LGT Capital Partners LTD. reduced its stake in ResMed Inc. (NYSE:RMD - Free Report) by 7.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 520,116 shares of the medical equipment provider's stock after selling 43,891 shares during the quarter. ResMed accounts for 4.4% of LGT Capital Partners LTD.'s investment portfolio, making the stock its 6th biggest holding. LGT Capital Partners LTD. owned about 0.35% of ResMed worth $126,971,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently bought and sold shares of RMD. iA Global Asset Management Inc. acquired a new stake in shares of ResMed during the first quarter valued at $3,055,000. Versor Investments LP lifted its position in ResMed by 327.3% during the second quarter. Versor Investments LP now owns 4,700 shares of the medical equipment provider's stock worth $900,000 after buying an additional 3,600 shares during the period. Assenagon Asset Management S.A. lifted its position in ResMed by 245.2% during the second quarter. Assenagon Asset Management S.A. now owns 33,507 shares of the medical equipment provider's stock worth $6,414,000 after buying an additional 23,801 shares during the period. Addenda Capital Inc. lifted its position in ResMed by 17.4% during the second quarter. Addenda Capital Inc. now owns 58,986 shares of the medical equipment provider's stock worth $11,291,000 after buying an additional 8,747 shares during the period. Finally, Asset Management One Co. Ltd. lifted its position in ResMed by 5.1% during the third quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider's stock worth $14,369,000 after buying an additional 2,878 shares during the period. Institutional investors and hedge funds own 54.98% of the company's stock.
Insider Activity at ResMed
In other ResMed news, CFO Brett Sandercock sold 1,000 shares of the business's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $246.42, for a total value of $246,420.00. Following the completion of the sale, the chief financial officer now owns 96,812 shares of the company's stock, valued at $23,856,413.04. The trade was a 1.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total value of $479,800.00. Following the completion of the sale, the director now owns 87,204 shares of the company's stock, valued at approximately $20,920,239.60. This trade represents a 2.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,174 shares of company stock valued at $14,882,278. 0.71% of the stock is owned by corporate insiders.
ResMed Price Performance
Shares of NYSE RMD traded down $0.90 during midday trading on Tuesday, reaching $238.52. The company's stock had a trading volume of 344,831 shares, compared to its average volume of 1,044,724. The company has a market cap of $35.01 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 1.71 and a beta of 0.69. ResMed Inc. has a one year low of $148.03 and a one year high of $260.49. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average price of $242.62 and a 200 day moving average price of $223.82.
ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.03 by $0.17. The company had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the company posted $1.64 earnings per share. On average, equities research analysts expect that ResMed Inc. will post 9.28 EPS for the current year.
ResMed Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. ResMed's dividend payout ratio is 28.08%.
Analysts Set New Price Targets
A number of research firms have recently commented on RMD. Robert W. Baird raised their price objective on ResMed from $280.00 to $283.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Baird R W upgraded ResMed to a "strong-buy" rating in a report on Tuesday, September 24th. Bank of America raised their price objective on ResMed from $240.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a report on Friday, October 25th. Finally, KeyCorp raised their target price on ResMed from $251.00 to $266.00 and gave the company an "overweight" rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $225.70.
Read Our Latest Research Report on RMD
About ResMed
(
Free Report)
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.
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