Bayesian Capital Management LP Has $5.05 Million Stock Position in ResMed Inc. (NYSE:RMD)

Bayesian Capital Management LP lifted its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 183.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,100 shares of the medical equipment provider's stock after purchasing an additional 14,300 shares during the period. ResMed accounts for about 0.6% of Bayesian Capital Management LP's investment portfolio, making the stock its 25th biggest holding. Bayesian Capital Management LP's holdings in ResMed were worth $5,054,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Optiver Holding B.V. bought a new stake in shares of ResMed during the 4th quarter worth about $33,000. Itau Unibanco Holding S.A. boosted its position in ResMed by 1,000.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock worth $38,000 after purchasing an additional 150 shares during the period. OFI Invest Asset Management acquired a new position in ResMed during the fourth quarter valued at approximately $39,000. Coppell Advisory Solutions LLC grew its holdings in ResMed by 1,750.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider's stock valued at $42,000 after purchasing an additional 175 shares during the last quarter. Finally, BankPlus Trust Department acquired a new stake in shares of ResMed in the fourth quarter worth $44,000. 54.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $209.85, for a total value of $1,680,688.65. Following the transaction, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at $95,580,799.20. The trade was a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the sale, the director now directly owns 77,218 shares of the company's stock, valued at $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,013 shares of company stock worth $11,298,816 over the last ninety days. Corporate insiders own 0.71% of the company's stock.

Analyst Ratings Changes

RMD has been the topic of several recent analyst reports. Citigroup upgraded shares of ResMed from a "neutral" rating to a "buy" rating in a report on Wednesday, March 5th. Royal Bank of Canada boosted their price objective on ResMed from $247.00 to $255.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 24th. Piper Sandler dropped their price target on ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Morgan Stanley initiated coverage on ResMed in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 price objective for the company. Finally, Stifel Nicolaus dropped their target price on shares of ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $258.83.

ResMed Trading Up 1.4 %

RMD stock opened at $239.84 on Friday. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The firm has a market cap of $35.17 billion, a P/E ratio of 28.32, a P/E/G ratio of 1.53 and a beta of 0.75. ResMed Inc. has a 1-year low of $179.42 and a 1-year high of $263.05. The business's 50 day moving average is $222.32 and its 200-day moving average is $233.94.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. The firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The business's revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.13 earnings per share. Equities analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed's dividend payout ratio is currently 23.79%.

ResMed 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.

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