Bessemer Group Inc. Decreases Stock Position in ResMed Inc. (NYSE:RMD)

Bessemer Group Inc. decreased its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 59.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,367 shares of the medical equipment provider's stock after selling 9,220 shares during the period. Bessemer Group Inc.'s holdings in ResMed were worth $1,427,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in ResMed by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider's stock worth $4,156,089,000 after purchasing an additional 160,590 shares during the period. Geode Capital Management LLC increased its stake in ResMed by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider's stock worth $899,860,000 after purchasing an additional 85,270 shares during the period. Invesco Ltd. increased its stake in ResMed by 32.2% in the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock worth $531,706,000 after purchasing an additional 566,046 shares during the period. Northern Trust Corp increased its stake in ResMed by 20.6% in the fourth quarter. Northern Trust Corp now owns 1,702,590 shares of the medical equipment provider's stock worth $389,365,000 after purchasing an additional 290,664 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in ResMed by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider's stock worth $218,861,000 after purchasing an additional 32,973 shares during the period. Hedge funds and other institutional investors own 54.98% of the company's stock.

Insiders Place Their Bets

In other news, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at $95,580,799.20. This trade represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $242.25, for a total value of $484,500.00. Following the completion of the transaction, the director now owns 71,218 shares of the company's stock, valued at approximately $17,252,560.50. The trade was a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,132 shares of company stock valued at $7,075,837. 0.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

RMD has been the topic of several research reports. Wall Street Zen lowered ResMed from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. Morgan Stanley set a $286.00 price target on ResMed and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Mizuho set a $265.00 price target on ResMed in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. raised their price target on ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ResMed currently has a consensus rating of "Moderate Buy" and an average price target of $259.33.

ResMed Price Performance

Shares of RMD stock opened at $255.02 on Monday. ResMed Inc. has a 1-year low of $186.22 and a 1-year high of $263.05. The stock's 50-day moving average is $244.99 and its 200 day moving average is $235.27. The company has a market cap of $37.39 billion, a P/E ratio of 28.62, a PEG ratio of 1.76 and a beta of 0.78. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.41 and a quick ratio of 2.49.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.01. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a return on equity of 25.67% and a net margin of 26.15%. The company's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company earned $2.13 earnings per share. Research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Thursday, May 8th. ResMed's dividend payout ratio is presently 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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