ResMed Inc. (NYSE:RMD) Shares Sold by LGT Capital Partners LTD.

LGT Capital Partners LTD. lessened its position in ResMed Inc. (NYSE:RMD) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 505,836 shares of the medical equipment provider’s stock after selling 14,280 shares during the period. ResMed accounts for about 4.4% of LGT Capital Partners LTD.’s portfolio, making the stock its 6th biggest holding. LGT Capital Partners LTD. owned about 0.34% of ResMed worth $115,680,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RMD. Concurrent Investment Advisors LLC increased its holdings in ResMed by 3.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock worth $469,000 after purchasing an additional 57 shares in the last quarter. Graypoint LLC bought a new stake in shares of ResMed in the 3rd quarter valued at about $233,000. Principal Financial Group Inc. grew its position in shares of ResMed by 2.9% in the 3rd quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after buying an additional 5,284 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of ResMed in the 3rd quarter valued at about $60,000. Finally, Oxbow Advisors LLC grew its position in shares of ResMed by 3.0% in the 3rd quarter. Oxbow Advisors LLC now owns 12,306 shares of the medical equipment provider’s stock valued at $3,004,000 after buying an additional 364 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on RMD shares. Stifel Nicolaus reduced their price target on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday. StockNews.com lowered ResMed from a “buy” rating to a “hold” rating in a research report on Friday. KeyCorp upped their price target on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their price target on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday. One equities 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 company. Based on data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $243.82.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 approximately $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,186 shares of company stock valued at $4,996,646 over the last ninety days. 0.71% of the stock is currently owned by insiders.

ResMed Stock Up 3.3 %

RMD stock opened at $232.40 on Friday. The stock’s 50 day simple moving average is $236.70 and its 200 day simple moving average is $239.93. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The company has a market cap of $34.13 billion, a P/E ratio of 27.44, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping 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%. On average, research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is currently 25.03%.

ResMed Company Profile

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.