103,833 Shares in ResMed Inc. $RMD Acquired by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. bought a new position in ResMed Inc. (NYSE:RMD) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 103,833 shares of the medical equipment provider’s stock, valued at approximately $20,235,000.

A number of other hedge funds have also added to or reduced their stakes in RMD. International Assets Investment Management LLC purchased a new position in shares of ResMed in the 4th quarter worth $25,000. WFA of San Diego LLC purchased a new stake in ResMed during the second quarter valued at $26,000. Imprint Wealth LLC purchased a new stake in ResMed during the third quarter valued at $26,000. Bell Investment Advisors Inc bought a new position in ResMed in the second quarter valued at about $26,000. Finally, Sunbelt Securities Inc. bought a new position in ResMed in the third quarter valued at about $31,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the completion of the sale, the chief executive officer owned 466,256 shares in the company, valued at approximately $95,904,196.64. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 8,000 shares of ResMed stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $225.00, for a total value of $1,800,000.00. Following the sale, the director directly owned 52,773 shares in the company, valued at $11,873,925. This trade represents a 13.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 22,973 shares of company stock worth $4,885,436 over the last 90 days. Company insiders own 0.65% of the company’s stock.

ResMed Trading Down 0.0%

Shares of NYSE:RMD opened at $235.64 on Friday. The stock has a 50 day moving average of $210.78 and a 200 day moving average of $219.03. The company has a current ratio of 3.10, a quick ratio of 2.42 and a debt-to-equity ratio of 0.06. The company has a market cap of $33.99 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 1.48 and a beta of 0.76. ResMed Inc. has a 12-month low of $180.26 and a 12-month high of $284.87.

ResMed (NYSE:RMD) last released its earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.06. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. ResMed had a net margin of 26.94% and a return on equity of 25.58%. ResMed’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.55 EPS. As a group, equities research analysts expect that ResMed Inc. will post 12.03 EPS for the current year.

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.66 per share. This is a boost from ResMed’s previous quarterly dividend of $0.60. This represents a $2.64 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 20th. ResMed’s payout ratio is 25.31%.

Analysts Set New Price Targets

RMD has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their price target on ResMed from $234.00 to $244.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. The Goldman Sachs Group reiterated a “buy” rating on shares of ResMed in a research note on Wednesday, July 1st. Morgan Stanley restated an “equal weight” rating and set a $230.00 target price (down from $286.00) on shares of ResMed in a research report on Wednesday, June 17th. Citigroup reaffirmed a “neutral” rating and set a $235.00 target price (down from $270.00) on shares of ResMed in a report on Sunday, July 12th. Finally, Piper Sandler decreased their price target on shares of ResMed from $233.00 to $225.00 and set a “neutral” rating on the stock in a research report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $239.38.

About ResMed

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.