Jefferies Financial Group Inc. trimmed its stake in shares of ResMed Inc. (NYSE:RMD – Free Report) by 34.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,319 shares of the medical equipment provider’s stock after selling 7,516 shares during the period. Jefferies Financial Group Inc.’s holdings in ResMed were worth $3,449,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Imprint Wealth LLC purchased a new position in ResMed during the third quarter valued at $26,000. WFA of San Diego LLC purchased a new position in ResMed during the second quarter valued at $26,000. International Assets Investment Management LLC purchased a new position in ResMed during the fourth quarter valued at $25,000. ORG Partners LLC lifted its holdings in ResMed by 181.6% during the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 69 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in ResMed during the third quarter valued at $31,000. 54.98% of the stock is owned by hedge funds and other institutional investors.
ResMed Price Performance
Shares of NYSE RMD opened at $207.80 on Wednesday. ResMed Inc. has a 52 week low of $198.61 and a 52 week high of $293.81. The stock has a market capitalization of $30.27 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 1.33 and a beta of 0.84. The firm has a 50-day simple moving average of $218.78 and a 200-day simple moving average of $240.33. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06.
ResMed Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 14th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, May 14th. ResMed’s dividend payout ratio (DPR) is presently 23.14%.
Analyst Upgrades and Downgrades
Several research firms have issued reports on RMD. Royal Bank Of Canada increased their price objective on shares of ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a report on Friday, May 1st. JPMorgan Chase & Co. started coverage on shares of ResMed in a research report on Wednesday, April 15th. They issued an “overweight” rating for the company. Evercore set a $255.00 target price on shares of ResMed and gave the company an “outperform” rating in a research report on Monday, April 13th. Wall Street Zen cut shares of ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, KeyCorp reduced their target price on shares of ResMed from $302.00 to $290.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $286.18.
View Our Latest Stock Analysis on RMD
Insider Activity
In related news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $207.82, for a total transaction of $1,037,229.62. Following the completion of the sale, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $96,890,463.86. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 18,973 shares of company stock valued at $4,386,031. 0.65% of the stock is owned by company insiders.
ResMed Profile
ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.
ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.
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