683,763 Shares in ResMed Inc. (NYSE:RMD) Acquired by LGT Capital Partners LTD.

LGT Capital Partners LTD. purchased a new position in ResMed Inc. (NYSE:RMD) in the 4th quarter, HoldingsChannel reports. The fund purchased 683,763 shares of the medical equipment provider’s stock, valued at approximately $117,621,000. ResMed accounts for about 3.5% of LGT Capital Partners LTD.’s holdings, making the stock its 10th biggest position.

A number of other institutional investors have also recently made changes to their positions in the company. Planned Solutions Inc. bought a new stake in ResMed during the 4th quarter worth approximately $34,000. Simon Quick Advisors LLC purchased a new position in shares of ResMed in the fourth quarter valued at about $212,000. Kingswood Wealth Advisors LLC bought a new position in shares of ResMed in the fourth quarter worth about $206,000. Portside Wealth Group LLC grew its position in shares of ResMed by 8.8% during the fourth quarter. Portside Wealth Group LLC now owns 1,556 shares of the medical equipment provider’s stock worth $268,000 after purchasing an additional 126 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in ResMed by 11.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 21,519 shares of the medical equipment provider’s stock worth $3,702,000 after purchasing an additional 2,239 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Up 0.9 %

NYSE RMD opened at $198.04 on Friday. The stock has a market cap of $29.13 billion, a P/E ratio of 32.73, a P/E/G ratio of 2.43 and a beta of 0.65. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $243.52. The company has a fifty day simple moving average of $185.35 and a two-hundred day simple moving average of $165.60.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.07. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. ResMed had a net margin of 19.77% and a return on equity of 23.86%. ResMed’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the firm posted $1.66 EPS. On average, analysts forecast that ResMed Inc. will post 7.45 earnings per share for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 8th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.92 annualized dividend and a yield of 0.97%. ResMed’s dividend payout ratio is presently 31.74%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Royal Bank of Canada boosted their price target on shares of ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 25th. Mizuho reissued a “buy” rating and issued a $215.00 price objective on shares of ResMed in a research report on Wednesday. KeyCorp started coverage on ResMed in a research note on Tuesday, February 6th. They set an “overweight” rating and a $227.00 price target for the company. UBS Group increased their target price on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Finally, Oppenheimer raised their price target on shares of ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and a consensus target price of $198.30.

Insider Activity

In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the transaction, the general counsel now directly owns 6,688 shares of the company’s stock, valued at $1,158,696. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the transaction, the general counsel now directly owns 6,688 shares in the company, valued at approximately $1,158,696. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the sale, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The disclosure for this sale can be found here. Insiders have sold 11,216 shares of company stock worth $2,046,617 in the last ninety days. Company insiders own 1.21% of the company’s stock.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.