Bessemer Group Inc. Has $3.57 Million Holdings in ResMed Inc. (NYSE:RMD)

Bessemer Group Inc. cut its stake in ResMed Inc. (NYSE:RMD) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,587 shares of the medical equipment provider’s stock after selling 51 shares during the period. Bessemer Group Inc.’s holdings in ResMed were worth $3,565,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP grew its position in ResMed by 35.7% during the third quarter. Wellington Management Group LLP now owns 59,926 shares of the medical equipment provider’s stock worth $14,629,000 after buying an additional 15,772 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of ResMed by 21.9% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 4,689 shares of the medical equipment provider’s stock worth $1,145,000 after acquiring an additional 841 shares during the period. MML Investors Services LLC grew its holdings in shares of ResMed by 3.1% during the 3rd quarter. MML Investors Services LLC now owns 8,697 shares of the medical equipment provider’s stock worth $2,123,000 after purchasing an additional 260 shares in the last quarter. M&T Bank Corp increased its position in shares of ResMed by 4.5% during the third quarter. M&T Bank Corp now owns 10,737 shares of the medical equipment provider’s stock valued at $2,622,000 after purchasing an additional 462 shares during the period. Finally, Coldstream Capital Management Inc. raised its stake in shares of ResMed by 10.1% in the third quarter. Coldstream Capital Management Inc. now owns 3,025 shares of the medical equipment provider’s stock valued at $736,000 after purchasing an additional 278 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the transaction, the chief executive officer now owns 455,472 shares of the company’s stock, valued at $95,580,799.20. This represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of the sale, the director now owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,013 shares of company stock worth $11,298,816. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. KeyCorp lifted their price target on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Stifel Nicolaus dropped their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. Morgan Stanley assumed coverage on ResMed in a report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 price objective on the stock. Finally, Piper Sandler increased their target price on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $249.73.

ResMed Trading Up 1.4 %

RMD stock opened at $213.59 on Friday. The business has a fifty day moving average price of $225.64 and a 200 day moving average price of $235.44. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05. The stock has a market capitalization of $31.37 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 1.53 and a beta of 0.75.

ResMed (NYSE:RMD) last announced its 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%. Analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.99%. ResMed’s payout ratio is 25.03%.

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.