Pictet Asset Management Holding SA Sells 12,152 Shares of ResMed Inc. $RMD

Pictet Asset Management Holding SA decreased its position in shares of ResMed Inc. (NYSE:RMD) by 16.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,498 shares of the medical equipment provider’s stock after selling 12,152 shares during the period. Pictet Asset Management Holding SA’s holdings in ResMed were worth $13,805,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Imprint Wealth LLC acquired a new stake in shares of ResMed in the 3rd quarter valued at $26,000. WFA of San Diego LLC acquired a new stake in ResMed in the second quarter valued at about $26,000. International Assets Investment Management LLC bought a new position in ResMed in the fourth quarter valued at about $25,000. ORG Partners LLC raised its stake in ResMed by 181.6% during the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 69 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new position in shares of ResMed in the third quarter worth about $31,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RMD has been the topic of several research reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of ResMed in a report on Wednesday. JPMorgan Chase & Co. started coverage on shares of ResMed in a research note on Wednesday, April 15th. They set an “overweight” rating on the stock. Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Robert W. Baird set a $225.00 price objective on ResMed in a research report on Friday, May 1st. Finally, KeyCorp lowered their target price on ResMed from $290.00 to $266.00 and set an “overweight” rating for the company in a report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $270.82.

Insider Activity

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $193.96, for a total value of $968,054.36. Following the completion of the sale, the chief executive officer directly owned 466,256 shares in the company, valued at approximately $90,435,013.76. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 14,973 shares of company stock worth $3,130,754. 0.65% of the stock is currently owned by corporate insiders.

ResMed Stock Performance

Shares of RMD opened at $209.37 on Friday. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06. The firm’s fifty day simple moving average is $201.40 and its two-hundred day simple moving average is $229.65. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81. The stock has a market capitalization of $30.37 billion, a P/E ratio of 20.19, a price-to-earnings-growth ratio of 1.18 and a beta of 0.78.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.07. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the company posted $2.37 EPS. As a group, analysts predict that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th were paid a $0.60 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $2.40 annualized dividend and a yield of 1.1%. ResMed’s payout ratio is 23.14%.

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.