ResMed Inc. (NYSE:RMD) is LGT Capital Partners LTD.’s 6th Largest Position

LGT Capital Partners LTD. trimmed its holdings in shares of ResMed Inc. (NYSE:RMD) by 2.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 505,836 shares of the medical equipment provider’s stock after selling 14,280 shares during the period. ResMed makes up 4.4% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 6th largest position. LGT Capital Partners LTD.’s holdings in ResMed were worth $115,680,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. True Wealth Design LLC increased its position in shares of ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 110 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of ResMed during the third quarter valued at approximately $34,000. OFI Invest Asset Management purchased a new stake in shares of ResMed during the fourth quarter valued at approximately $39,000. BankPlus Trust Department purchased a new stake in shares of ResMed during the fourth quarter valued at approximately $44,000. Finally, Rosenberg Matthew Hamilton bought a new position in ResMed during the fourth quarter valued at $54,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Trading Up 3.3 %

NYSE RMD opened at $232.40 on Friday. The stock’s 50-day simple moving average is $236.70 and its two-hundred day simple moving average is $239.93. ResMed Inc. has a twelve month low of $172.19 and a twelve month high of $263.05. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $34.13 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating 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%. Research analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.91%. ResMed’s dividend payout ratio is currently 25.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RMD shares. KeyCorp lifted their price objective on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday. Stifel Nicolaus dropped their price objective on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday. Piper Sandler lifted their price objective on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $243.82.

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the transaction, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the transaction, the insider now owns 9,725 shares in the company, valued at approximately $2,289,265. This represents a 48.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,186 shares of company stock worth $4,996,646. Company insiders own 0.71% of the company’s stock.

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.