Swiss Life Asset Management Ltd Purchases 3,987 Shares of ResMed Inc. $RMD

Swiss Life Asset Management Ltd grew its position in ResMed Inc. (NYSE:RMD) by 10.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 42,023 shares of the medical equipment provider’s stock after purchasing an additional 3,987 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in ResMed were worth $11,503,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quadcap Wealth Management LLC boosted its position in shares of ResMed by 2.5% during the 2nd quarter. Quadcap Wealth Management LLC now owns 1,880 shares of the medical equipment provider’s stock worth $485,000 after acquiring an additional 45 shares in the last quarter. Terra Nova Asset Management LLC raised its position in ResMed by 0.6% during the third quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock valued at $2,136,000 after purchasing an additional 46 shares in the last quarter. NBT Bank N A NY lifted its stake in ResMed by 22.9% during the third quarter. NBT Bank N A NY now owns 252 shares of the medical equipment provider’s stock worth $69,000 after purchasing an additional 47 shares during the last quarter. OFI Invest Asset Management lifted its stake in ResMed by 10.4% during the third quarter. OFI Invest Asset Management now owns 509 shares of the medical equipment provider’s stock worth $139,000 after purchasing an additional 48 shares during the last quarter. Finally, IMA Advisory Services Inc. boosted its holdings in shares of ResMed by 52.7% in the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 48 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

RMD has been the topic of several recent analyst reports. Robert W. Baird set a $281.00 price target on ResMed in a research note on Friday, January 30th. Weiss Ratings lowered ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Piper Sandler lifted their target price on ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Royal Bank Of Canada boosted their target price on ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Finally, Wall Street Zen cut shares of ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $299.27.

ResMed Stock Performance

NYSE RMD opened at $226.46 on Friday. The company has a market capitalization of $32.99 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 1.51 and a beta of 0.88. The company has a quick ratio of 2.32, a current ratio of 3.06 and a debt-to-equity ratio of 0.06. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81. The stock has a fifty day simple moving average of $253.06 and a 200 day simple moving average of $256.85.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.43 EPS. Sell-side analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Thursday, February 12th were issued a $0.60 dividend. The ex-dividend date was Thursday, February 12th. This represents a $2.40 annualized dividend and a yield of 1.1%. ResMed’s dividend payout ratio is presently 23.74%.

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $260.22, for a total transaction of $520,440.00. Following the completion of the transaction, the director owned 62,773 shares in the company, valued at approximately $16,334,790.06. This trade represents a 3.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $251.03, for a total transaction of $1,252,890.73. Following the completion of the transaction, the chief executive officer owned 466,223 shares in the company, valued at $117,035,959.69. This trade represents a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 21,073 shares of company stock valued at $5,405,198 in the last three months. Insiders own 0.65% of the company’s stock.

ResMed Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.