Bellevue Group AG Has $39.09 Million Stock Holdings in ResMed Inc. (NYSE:RMD)

Bellevue Group AG grew its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 160,128 shares of the medical equipment provider's stock after purchasing an additional 4,247 shares during the quarter. Bellevue Group AG owned about 0.11% of ResMed worth $39,090,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its holdings in ResMed by 4.8% in the first quarter. Janus Henderson Group PLC now owns 19,516 shares of the medical equipment provider's stock valued at $3,865,000 after acquiring an additional 902 shares during the last quarter. Tidal Investments LLC grew its position in shares of ResMed by 58.2% during the 1st quarter. Tidal Investments LLC now owns 8,954 shares of the medical equipment provider's stock worth $1,773,000 after buying an additional 3,294 shares during the period. Cetera Advisors LLC bought a new stake in shares of ResMed during the first quarter worth approximately $257,000. GAMMA Investing LLC lifted its holdings in ResMed by 56.1% in the second quarter. GAMMA Investing LLC now owns 1,324 shares of the medical equipment provider's stock valued at $253,000 after buying an additional 476 shares during the period. Finally, DNB Asset Management AS boosted its stake in ResMed by 4.1% in the second quarter. DNB Asset Management AS now owns 24,049 shares of the medical equipment provider's stock valued at $4,603,000 after acquiring an additional 938 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. KeyCorp upped their target price on shares of ResMed from $251.00 to $266.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Wolfe Research reiterated an "underperform" rating and issued a $180.00 price objective on shares of ResMed in a report on Wednesday, September 18th. Royal Bank of Canada upped their price objective on shares of ResMed from $224.00 to $232.00 and gave the company a "sector perform" rating in a research report on Friday, October 25th. Baird R W upgraded ResMed to a "strong-buy" rating in a report on Tuesday, September 24th. Finally, Bank of America increased their price target on ResMed from $240.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $225.70.

Insider Activity

In related news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the completion of the sale, the chief executive officer now owns 464,169 shares of the company's stock, valued at approximately $115,290,296.22. The trade was a 3.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Witte Jan De sold 796 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the transaction, the director now directly owns 6,723 shares in the company, valued at approximately $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,334 shares of company stock valued at $16,379,713 over the last three months. Insiders own 0.71% of the company's stock.

ResMed Stock Down 0.1 %

NYSE:RMD traded down $0.31 during trading hours on Friday, reaching $249.02. 351,327 shares of the stock were exchanged, compared to its average volume of 842,042. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. ResMed Inc. has a twelve month low of $156.39 and a twelve month high of $260.49. The firm has a 50 day moving average of $242.24 and a 200 day moving average of $225.66. The stock has a market cap of $36.56 billion, a PE ratio of 32.98, a PEG ratio of 1.81 and a beta of 0.69.

ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the business earned $1.64 earnings per share. ResMed's quarterly revenue was up 11.1% on a year-over-year basis. On average, equities analysts expect that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.85%. ResMed's dividend payout ratio (DPR) is currently 28.08%.

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.