LGT Capital Partners LTD. Sells 25,752 Shares of ResMed Inc. $RMD

Key Points

• LGT Capital Partners reduced its ResMed stake by 18.7% in the fourth quarter, selling 25,752 shares and ending with 112,037 shares valued at about $27.0 million.
• ResMed continues to see significant institutional and insider activity, with institutions holding 54.98% of the stock and recent insider sales including CEO Michael J. Farrell and Director Peter C. Farrell.
• The company recently beat earnings expectations with Q4 EPS of $2.86 on revenue of $1.43 billion, and it also announced a quarterly dividend of $0.60 per share payable on June 18.

LGT Capital Partners LTD. trimmed its position in ResMed Inc. (NYSE:RMD - Free Report) by 18.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 112,037 shares of the medical equipment provider's stock after selling 25,752 shares during the quarter. ResMed makes up 1.3% of LGT Capital Partners LTD.'s holdings, making the stock its 26th largest position. LGT Capital Partners LTD. owned about 0.08% of ResMed worth $26,986,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in ResMed in the 4th quarter valued at about $249,068,000. Swedbank AB grew its stake in ResMed by 103.1% in the 4th quarter. Swedbank AB now owns 1,102,476 shares of the medical equipment provider's stock valued at $265,553,000 after buying an additional 559,765 shares during the last quarter. Bank of New York Mellon Corp grew its stake in ResMed by 7.4% in the 4th quarter. Bank of New York Mellon Corp now owns 4,890,654 shares of the medical equipment provider's stock valued at $1,178,012,000 after buying an additional 337,738 shares during the last quarter. First Trust Advisors LP grew its stake in ResMed by 285.1% in the 3rd quarter. First Trust Advisors LP now owns 445,198 shares of the medical equipment provider's stock valued at $121,864,000 after buying an additional 329,588 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in ResMed by 2,373.1% in the 3rd quarter. Marshall Wace LLP now owns 310,987 shares of the medical equipment provider's stock valued at $85,126,000 after buying an additional 298,412 shares during the last quarter. 54.98% of the stock is owned by institutional investors.

Insider Buying and Selling

In other ResMed 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 transaction of $1,037,229.62. Following the transaction, the chief executive officer owned 466,223 shares in the company, 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 SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was 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 90 days, insiders have sold 11,982 shares of company stock worth $2,612,700. Company insiders own 0.65% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on RMD shares. Robert W. Baird set a $225.00 price target on shares of ResMed in a research note on Friday, May 1st. Royal Bank Of Canada upped their price target on shares of ResMed from $314.00 to $321.00 and gave the company an "outperform" rating in a research note on Friday, May 1st. Wells Fargo & Company decreased their price target on shares of ResMed from $270.00 to $227.00 and set an "equal weight" rating on the stock in a research note on Friday, May 1st. Citigroup decreased their price target on shares of ResMed from $345.00 to $340.00 and set a "buy" rating on the stock in a research note on Thursday, April 9th. Finally, Evercore set a $255.00 price target on shares of ResMed and gave the company an "outperform" rating in a research note on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $286.18.

ResMed Stock Performance

Shares of NYSE:RMD opened at $193.35 on Tuesday. The company's 50 day moving average price is $212.53 and its two-hundred day moving average price is $236.78. ResMed Inc. has a 12-month low of $180.26 and a 12-month high of $293.81. The firm has a market cap of $28.05 billion, a PE ratio of 18.65, a PEG ratio of 1.25 and a beta of 0.80. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the business posted $2.37 EPS. The business's revenue was up 10.8% compared to the same quarter last year. Equities research analysts predict that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, May 14th. ResMed's dividend payout ratio is presently 23.14%.

ResMed 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.

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