LGT Capital Partners LTD. Has $26.99 Million Stock Holdings in ResMed Inc. $RMD

LGT Capital Partners LTD. decreased its position in shares of ResMed Inc. (NYSE:RMD) by 18.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 112,037 shares of the medical equipment provider’s stock after selling 25,752 shares during the period. ResMed makes up about 1.3% of LGT Capital Partners LTD.’s portfolio, making the stock its 26th biggest holding. LGT Capital Partners LTD.’s holdings in ResMed were worth $26,986,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Landscape Capital Management L.L.C. boosted its position in shares of ResMed by 123.2% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 49,017 shares of the medical equipment provider’s stock worth $13,417,000 after acquiring an additional 27,060 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of ResMed by 37.2% during the 4th quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock worth $262,027,000 after acquiring an additional 294,124 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of ResMed by 20.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 112,755 shares of the medical equipment provider’s stock worth $30,847,000 after acquiring an additional 18,966 shares in the last quarter. Rhumbline Advisers boosted its position in shares of ResMed by 3.8% during the 3rd quarter. Rhumbline Advisers now owns 318,937 shares of the medical equipment provider’s stock worth $87,302,000 after acquiring an additional 11,696 shares in the last quarter. Finally, Intech Investment Management LLC boosted its position in shares of ResMed by 40.9% during the 3rd quarter. Intech Investment Management LLC now owns 31,299 shares of the medical equipment provider’s stock worth $8,567,000 after acquiring an additional 9,083 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

RMD has been the topic of several analyst reports. Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. JPMorgan Chase & Co. initiated coverage on shares of ResMed in a research report on Wednesday, April 15th. They set an “overweight” rating on the stock. Robert W. Baird set a $225.00 price target on shares of ResMed in a research report on Friday, May 1st. KeyCorp reduced their price target on shares of ResMed from $302.00 to $290.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. Finally, Evercore set a $255.00 price target on shares of ResMed and gave the stock an “outperform” rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $286.18.

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $207.82, for a total value of $1,037,229.62. Following the completion of the transaction, the chief executive officer owned 466,223 shares of the company’s stock, valued at $96,890,463.86. This represents a 1.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. The SEC filing for this sale provides additional information. In the last three months, insiders sold 11,982 shares of company stock valued at $2,612,700. 0.65% of the stock is owned by insiders.

ResMed Price Performance

Shares of NYSE:RMD opened at $193.35 on Tuesday. The company has a market cap of $28.05 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 1.25 and a beta of 0.80. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The firm has a 50 day simple moving average of $212.53 and a 200 day simple moving average of $236.78. ResMed Inc. has a one year low of $180.26 and a one year high of $293.81.

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

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 14th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $2.40 annualized dividend and a yield of 1.2%. ResMed’s dividend payout ratio is presently 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.