LGT Capital Partners LTD. Sells 62,275 Shares of ResMed Inc. $RMD

LGT Capital Partners LTD. reduced its holdings in ResMed Inc. (NYSE:RMD) by 13.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 405,568 shares of the medical equipment provider’s stock after selling 62,275 shares during the period. ResMed comprises approximately 4.6% of LGT Capital Partners LTD.’s holdings, making the stock its 4th biggest position. LGT Capital Partners LTD.’s holdings in ResMed were worth $104,637,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of RMD. Wealthfront Advisers LLC raised its position in ResMed by 16.6% during the 1st quarter. Wealthfront Advisers LLC now owns 9,380 shares of the medical equipment provider’s stock worth $2,100,000 after purchasing an additional 1,338 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of ResMed by 926.7% in the first quarter. Larson Financial Group LLC now owns 308 shares of the medical equipment provider’s stock valued at $69,000 after buying an additional 278 shares during the period. Forum Financial Management LP raised its position in shares of ResMed by 28.1% during the first quarter. Forum Financial Management LP now owns 1,528 shares of the medical equipment provider’s stock worth $342,000 after acquiring an additional 335 shares during the last quarter. Creekmur Asset Management LLC raised its position in shares of ResMed by 4,109.1% during the first quarter. Creekmur Asset Management LLC now owns 926 shares of the medical equipment provider’s stock worth $207,000 after acquiring an additional 904 shares during the last quarter. Finally, Private Advisor Group LLC lifted its stake in shares of ResMed by 18.3% in the first quarter. Private Advisor Group LLC now owns 3,244 shares of the medical equipment provider’s stock worth $726,000 after acquiring an additional 501 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Performance

NYSE:RMD opened at $244.74 on Friday. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81. The company has a fifty day moving average of $266.27 and a 200-day moving average of $262.80. The firm has a market capitalization of $35.72 billion, a P/E ratio of 25.73, a P/E/G ratio of 1.75 and a beta of 0.87.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the company posted $2.20 earnings per share. The business’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, sell-side analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 13th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, November 13th. ResMed’s payout ratio is presently 24.56%.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $252.05, for a total value of $504,100.00. Following the transaction, the director owned 66,110 shares in the company, valued at approximately $16,663,025.50. This represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 8,011 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $249.75, for a total value of $2,000,747.25. Following the completion of the sale, the chief executive officer directly owned 467,866 shares of the company’s stock, valued at $116,849,533.50. This trade represents a 1.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 21,182 shares of company stock worth $5,658,783 in the last quarter. Company insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the topic of several analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of ResMed in a report on Wednesday, October 8th. Citigroup assumed coverage on shares of ResMed in a research report on Thursday, September 18th. They issued a “buy” rating and a $330.00 price target on the stock. CLSA upgraded shares of ResMed from a “hold” rating to an “outperform” rating in a research report on Tuesday, September 2nd. Royal Bank Of Canada lifted their target price on shares of ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Finally, William Blair upgraded shares of ResMed to a “strong-buy” rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $297.45.

ResMed 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.