ResMed Inc. (NYSE:RMD) Stock Holdings Lowered by LGT Capital Partners LTD.

LGT Capital Partners LTD. lowered its position in shares of ResMed Inc. (NYSE:RMD) by 7.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 520,116 shares of the medical equipment provider’s stock after selling 43,891 shares during the quarter. ResMed accounts for about 4.4% of LGT Capital Partners LTD.’s holdings, making the stock its 6th biggest holding. LGT Capital Partners LTD.’s holdings in ResMed were worth $126,971,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. W.G. Shaheen & Associates DBA Whitney & Co boosted its holdings in ResMed by 2.0% in the third quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 57,455 shares of the medical equipment provider’s stock valued at $14,026,000 after acquiring an additional 1,111 shares in the last quarter. Meeder Asset Management Inc. lifted its position in shares of ResMed by 7,381.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,217 shares of the medical equipment provider’s stock worth $785,000 after purchasing an additional 3,174 shares during the period. Caprock Group LLC increased its position in shares of ResMed by 95.9% during the third quarter. Caprock Group LLC now owns 5,732 shares of the medical equipment provider’s stock valued at $1,399,000 after buying an additional 2,806 shares during the period. Mawer Investment Management Ltd. lifted its holdings in ResMed by 3.2% in the third quarter. Mawer Investment Management Ltd. now owns 76,554 shares of the medical equipment provider’s stock worth $18,688,000 after buying an additional 2,394 shares during the period. Finally, Quest Partners LLC grew its holdings in shares of ResMed by 472.5% during the 3rd quarter. Quest Partners LLC now owns 1,872 shares of the medical equipment provider’s stock worth $457,000 after acquiring an additional 1,545 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Up 2.0 %

Shares of RMD stock opened at $239.42 on Tuesday. The company has a 50 day simple moving average of $242.62 and a two-hundred day simple moving average of $223.82. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12 month low of $148.03 and a 12 month high of $260.49. The stock has a market cap of $35.15 billion, a P/E ratio of 31.71, a P/E/G ratio of 1.71 and a beta of 0.69.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm posted $1.64 EPS. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, research analysts expect that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is 28.08%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Robert W. Baird upped their price target on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Wolfe Research restated an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. KeyCorp raised their price target on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Bank of America boosted their price target on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and an average price target of $225.70.

Insider Buying and Selling at ResMed

In other ResMed news, Director Witte Jan De sold 796 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the transaction, the director now directly owns 6,723 shares in the company, valued at $1,672,749.63. This represents a 10.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kaushik Ghoshal sold 5,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the transaction, the insider now directly owns 21,788 shares in the company, valued at $5,502,777.28. This trade represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,174 shares of company stock valued at $14,882,278 over the last ninety days. 0.71% of the stock is currently owned by company insiders.

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.