Banque Pictet & Cie SA Sells 4,207 Shares of ResMed Inc. $RMD

Banque Pictet & Cie SA reduced its stake in ResMed Inc. (NYSE:RMD) by 30.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,829 shares of the medical equipment provider’s stock after selling 4,207 shares during the period. Banque Pictet & Cie SA’s holdings in ResMed were worth $2,368,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Terra Nova Asset Management LLC lifted its stake in shares of ResMed by 0.6% in the third quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock worth $2,136,000 after buying an additional 46 shares in the last quarter. NBT Bank N A NY increased its position in shares of ResMed by 22.9% during the third quarter. NBT Bank N A NY now owns 252 shares of the medical equipment provider’s stock valued at $69,000 after acquiring an additional 47 shares in the last quarter. OFI Invest Asset Management raised its holdings in ResMed by 10.4% in the 3rd quarter. OFI Invest Asset Management now owns 509 shares of the medical equipment provider’s stock worth $139,000 after acquiring an additional 48 shares during the last quarter. IMA Advisory Services Inc. lifted its position in 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 acquiring an additional 48 shares in the last quarter. Finally, Occidental Asset Management LLC lifted its position in ResMed by 3.0% in the 4th quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider’s stock valued at $409,000 after acquiring an additional 49 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction 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 transaction, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $117,035,959.69. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 23,023 shares of company stock valued at $5,843,111. Insiders own 0.65% of the company’s stock.

ResMed Trading Up 0.6%

ResMed stock opened at $224.23 on Friday. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. The company has a market cap of $32.67 billion, a P/E ratio of 22.18, a P/E/G ratio of 1.48 and a beta of 0.93. The company has a quick ratio of 2.32, a current ratio of 3.06 and a debt-to-equity ratio of 0.06. The business has a 50-day simple moving average of $247.09 and a two-hundred day simple moving average of $253.74.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Friday, January 30th. The medical equipment provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.13. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.43 EPS. Analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, February 12th. ResMed’s dividend payout ratio (DPR) is currently 23.74%.

Analyst Upgrades and Downgrades

RMD has been the subject of a number of research analyst reports. Weiss Ratings lowered ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 19th. Royal Bank Of Canada increased their price objective on ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Piper Sandler lifted their price objective on ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Robert W. Baird set a $281.00 target price on ResMed in a research report on Friday, January 30th. Finally, Wall Street Zen cut shares of ResMed from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $299.27.

About ResMed

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.