Bank Julius Baer & Co. Ltd Zurich Invests $267,000 in ResMed Inc. (NYSE:RMD)

Bank Julius Baer & Co. Ltd Zurich bought a new stake in ResMed Inc. (NYSE:RMD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,060 shares of the medical equipment provider’s stock, valued at approximately $267,000.

Other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC increased its position in shares of ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 110 shares during the period. Ashton Thomas Securities LLC bought a new stake in ResMed during the third quarter valued at $34,000. BankPlus Trust Department acquired a new stake in ResMed during the 4th quarter worth about $44,000. Rosenberg Matthew Hamilton acquired a new stake in ResMed during the 4th quarter worth about $54,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of ResMed in the 4th quarter worth about $67,000. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

Shares of NYSE RMD opened at $237.42 on Tuesday. The stock has a market cap of $34.87 billion, a price-to-earnings ratio of 28.03, a PEG ratio of 1.53 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05. The firm’s 50-day simple moving average is $236.86 and its 200 day simple moving average is $240.13.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio is 25.03%.

Insider Transactions at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $227.71, for a total value of $455,420.00. Following the completion of the sale, the director now directly owns 75,218 shares of the company’s stock, valued at approximately $17,127,890.78. This represents a 2.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the sale, the insider now owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. This trade represents a 48.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,186 shares of company stock worth $4,996,646 in the last quarter. 0.71% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RMD has been the subject of several recent analyst reports. Piper Sandler raised their target price on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. KeyCorp lifted their price objective on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. The Goldman Sachs Group began coverage on shares of ResMed in a research report on Thursday, January 16th. They set a “buy” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, January 31st. Finally, Citigroup upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $243.82.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.