Bayesian Capital Management LP Has $1.78 Million Holdings in ResMed Inc. (NYSE:RMD)

Bayesian Capital Management LP lifted its holdings in shares of ResMed Inc. (NYSE:RMD) by 110.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,965 shares of the medical equipment provider’s stock after purchasing an additional 4,700 shares during the period. Bayesian Capital Management LP’s holdings in ResMed were worth $1,775,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Handelsbanken Fonder AB raised its stake in ResMed by 22.5% during the fourth quarter. Handelsbanken Fonder AB now owns 70,272 shares of the medical equipment provider’s stock worth $12,088,000 after buying an additional 12,899 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in ResMed by 13.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider’s stock worth $7,781,000 after buying an additional 5,517 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in ResMed by 24.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock worth $35,068,000 after buying an additional 35,273 shares during the last quarter. Vaughan David Investments LLC IL bought a new position in ResMed during the fourth quarter worth $29,322,000. Finally, Dimensional Fund Advisors LP raised its stake in ResMed by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 536,459 shares of the medical equipment provider’s stock worth $92,285,000 after buying an additional 40,605 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Up 0.1 %

ResMed stock traded up $0.16 during midday trading on Tuesday, hitting $208.70. 360,757 shares of the stock were exchanged, compared to its average volume of 1,047,835. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $229.97. The stock has a market capitalization of $30.66 billion, a price-to-earnings ratio of 32.07, a price-to-earnings-growth ratio of 1.70 and a beta of 0.66. The business’s 50-day moving average price is $203.93 and its 200-day moving average price is $195.45. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $236.00 target price on shares of ResMed in a research note on Monday, June 24th. KeyCorp lifted their price target on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Citigroup downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Finally, Royal Bank of Canada lifted their price target on shares of ResMed from $200.00 to $204.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $203.20.

Insider Buying and Selling

In related news, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $194.35, for a total transaction of $194,350.00. Following the transaction, the chief financial officer now directly owns 90,056 shares in the company, valued at $17,502,383.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other ResMed news, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $194.35, for a total value of $194,350.00. Following the transaction, the chief financial officer now directly owns 90,056 shares in the company, valued at $17,502,383.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the completion of the transaction, the chief executive officer now owns 440,752 shares in the company, valued at $95,422,808. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,409 shares of company stock worth $9,602,796. 1.21% of the stock is owned by insiders.

ResMed Company Profile

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.