LGT Capital Partners LTD. Cuts Stock Holdings in ResMed Inc. $RMD

LGT Capital Partners LTD. reduced its stake in ResMed Inc. (NYSE:RMD) by 66.0% during the 3rd quarter, Holdings Channel reports. The fund owned 137,789 shares of the medical equipment provider’s stock after selling 267,779 shares during the quarter. ResMed makes up approximately 1.8% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 21st biggest position. LGT Capital Partners LTD.’s holdings in ResMed were worth $37,717,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. SJS Investment Consulting Inc. raised its position in ResMed by 1,433.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 86 shares in the last quarter. WFA of San Diego LLC acquired a new stake in ResMed in the second quarter valued at approximately $26,000. Westside Investment Management Inc. raised its holdings in ResMed by 100.0% in the third quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 66 shares in the last quarter. GoalVest Advisory LLC purchased a new position in ResMed in the third quarter worth approximately $37,000. Finally, IMA Advisory Services Inc. grew its holdings in ResMed by 52.7% during the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock worth $38,000 after acquiring an additional 48 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on RMD shares. Citigroup increased their price objective on shares of ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Wells Fargo & Company increased their target price on ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Stifel Nicolaus raised their price target on ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a research note on Friday, January 30th. Wall Street Zen raised ResMed from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Finally, UBS Group reaffirmed a “buy” rating and set a $345.00 price objective on shares of ResMed in a research report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $299.27.

ResMed Trading Up 0.7%

NYSE RMD opened at $260.97 on Tuesday. The firm’s fifty day moving average price is $253.32 and its 200 day moving average price is $261.72. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. The company has a market capitalization of $38.02 billion, a price-to-earnings ratio of 25.81, a price-to-earnings-growth ratio of 1.72 and a beta of 0.87.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. ResMed’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.43 earnings per share. On average, sell-side analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, February 12th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. ResMed’s dividend payout ratio is 23.74%.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $251.31, for a total transaction of $502,620.00. Following the transaction, the director owned 64,773 shares in the company, valued at $16,278,102.63. This trade represents a 3.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total value of $1,240,063.86. Following the completion of the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $115,837,766.58. This represents a 1.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,082 shares of company stock worth $4,134,807 in the last 90 days. 0.65% of the stock is currently owned by company insiders.

ResMed Company Profile

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.