Lombard Odier Asset Management Switzerland SA purchased a new stake in shares of ResMed Inc. (NYSE:RMD – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 60,254 shares of the medical equipment provider’s stock, valued at approximately $13,165,000. ResMed comprises approximately 1.9% of Lombard Odier Asset Management Switzerland SA’s holdings, making the stock its 21st biggest position.

Several other institutional investors have also made changes to their positions in RMD. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of ResMed in the third quarter valued at approximately $26,000. Compass Wealth Management LLC acquired a new position in ResMed in the 4th quarter valued at $26,000. Creative Financial Designs Inc. ADV boosted its stake in ResMed by 72.4% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 131 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 55 shares during the period. Raleigh Capital Management Inc. bought a new stake in shares of ResMed in the second quarter valued at approximately $32,000. Finally, WFA of San Diego LLC bought a new stake in shares of ResMed in the second quarter valued at approximately $44,000. 63.79% of the stock is currently owned by institutional investors and hedge funds.

ResMed Price Performance

RMD stock traded down $0.13 during trading on Friday, hitting $157.60. The company had a trading volume of 143,114 shares, compared to its average volume of 991,451. The company has a current ratio of 2.99, a quick ratio of 1.75 and a debt-to-equity ratio of 0.32. The company has a fifty day moving average price of $146.49 and a two-hundred day moving average price of $179.64. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $243.52. The company has a market cap of $23.18 billion, a P/E ratio of 25.61, a P/E/G ratio of 2.72 and a beta of 0.52.

ResMed (NYSE:RMD – Get Free Report) last posted its earnings results on Thursday, October 26th. The medical equipment provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.01. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. ResMed had a net margin of 20.72% and a return on equity of 24.14%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.51 EPS. Equities research analysts expect that ResMed Inc. will post 7.29 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 9th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Wednesday, November 8th. ResMed’s dividend payout ratio is currently 31.17%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. StockNews.com initiated coverage on shares of ResMed in a research note on Thursday, October 5th. They set a “hold” rating for the company. Needham & Company LLC upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Mizuho decreased their target price on ResMed from $180.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, October 31st. KeyCorp cut their price target on ResMed from $280.00 to $260.00 and set an “overweight” rating for the company in a report on Friday, August 4th. Finally, Bank of America reduced their price objective on ResMed from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Monday, September 18th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $202.33.

Read Our Latest Stock Report on ResMed

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 5,675 shares of ResMed stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $146.35, for a total transaction of $830,536.25. Following the completion of the transaction, the chief executive officer now directly owns 449,360 shares of the company’s stock, valued at approximately $65,763,836. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other ResMed news, CEO Michael J. Farrell sold 5,678 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $152.04, for a total value of $863,283.12. Following the completion of the sale, the chief executive officer now owns 440,986 shares in the company, valued at approximately $67,047,511.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 5,675 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $146.35, for a total transaction of $830,536.25. Following the completion of the sale, the chief executive officer now owns 449,360 shares of the company’s stock, valued at approximately $65,763,836. The disclosure for this sale can be found here. Insiders sold 20,078 shares of company stock valued at $2,957,385 in the last ninety days. Insiders own 1.21% of the company’s stock.

ResMed Company Profile

(Free Report)

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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