Pictet Asset Management Holding SA Sells 1,029 Shares of ResMed Inc. (NYSE:RMD)

Pictet Asset Management Holding SA lessened its holdings in ResMed Inc. (NYSE:RMD) by 1.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 69,306 shares of the medical equipment provider’s stock after selling 1,029 shares during the quarter. Pictet Asset Management Holding SA’s holdings in ResMed were worth $15,850,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in RMD. Nomura Asset Management Co. Ltd. grew its position in shares of ResMed by 0.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 43,244 shares of the medical equipment provider’s stock worth $9,889,000 after purchasing an additional 335 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of ResMed during the fourth quarter valued at approximately $2,288,000. Norges Bank purchased a new position in shares of ResMed in the fourth quarter worth $118,605,000. NEOS Investment Management LLC boosted its position in shares of ResMed by 25.8% during the fourth quarter. NEOS Investment Management LLC now owns 6,039 shares of the medical equipment provider’s stock worth $1,381,000 after acquiring an additional 1,238 shares during the last quarter. Finally, UniSuper Management Pty Ltd grew its stake in ResMed by 3.4% during the fourth quarter. UniSuper Management Pty Ltd now owns 65,610 shares of the medical equipment provider’s stock valued at $15,004,000 after acquiring an additional 2,138 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the sale, the director now directly owns 77,218 shares of the company’s stock, valued at $18,695,249.98. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kaushik Ghoshal sold 9,745 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the transaction, the insider now directly owns 9,725 shares in the company, valued at approximately $2,327,289.75. This trade represents a 50.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,940 shares of company stock worth $9,164,385 over the last quarter. Company insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

RMD has been the topic of several research analyst reports. Stifel Nicolaus decreased their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. Piper Sandler increased their price target on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. JPMorgan Chase & Co. upped their price objective on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, KeyCorp raised their target price on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $249.73.

ResMed Trading Down 0.8 %

Shares of RMD opened at $222.14 on Wednesday. The company’s fifty day simple moving average is $232.86 and its 200-day simple moving average is $237.64. The company has a market cap of $32.62 billion, a P/E ratio of 26.23, a P/E/G ratio of 1.53 and a beta of 0.74. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a twelve month low of $172.19 and a twelve month high of $263.05.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.95%. The ex-dividend date was Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

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.