Jefferies Financial Group Inc. Trims Holdings in ResMed Inc. $RMD

Jefferies Financial Group Inc. decreased its position in shares of ResMed Inc. (NYSE:RMD) by 70.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,518 shares of the medical equipment provider’s stock after selling 10,782 shares during the quarter. Jefferies Financial Group Inc.’s holdings in ResMed were worth $1,166,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Swedbank AB lifted its stake in ResMed by 445.1% during the 1st quarter. Swedbank AB now owns 397,319 shares of the medical equipment provider’s stock valued at $88,940,000 after acquiring an additional 324,428 shares during the period. Vanguard Group Inc. raised its holdings in shares of ResMed by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,493,702 shares of the medical equipment provider’s stock worth $4,139,815,000 after purchasing an additional 320,240 shares during the last quarter. Nuveen LLC acquired a new position in ResMed during the first quarter valued at $69,492,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in ResMed during the second quarter valued at $34,443,000. Finally, Geode Capital Management LLC boosted its holdings in ResMed by 2.4% in the second quarter. Geode Capital Management LLC now owns 4,215,145 shares of the medical equipment provider’s stock valued at $1,083,409,000 after purchasing an additional 98,717 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. KeyCorp boosted their price objective on ResMed from $298.00 to $299.00 and gave the company an “overweight” rating in a report on Friday, October 31st. UBS Group upgraded ResMed to a “strong-buy” rating in a research report on Tuesday, September 16th. Wall Street Zen lowered ResMed from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Robert W. Baird dropped their price objective on shares of ResMed from $320.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Finally, Wells Fargo & Company began coverage on shares of ResMed in a research note on Monday, October 13th. They issued an “equal weight” rating and a $280.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, ResMed has an average rating of “Moderate Buy” and an average price target of $297.45.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 8,011 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $249.75, for a total transaction of $2,000,747.25. Following the completion of the sale, the chief executive officer owned 467,866 shares of the company’s stock, valued at $116,849,533.50. The trade was a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Michael J. Rider sold 100 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total transaction of $27,436.00. Following the transaction, the general counsel owned 11,327 shares of the company’s stock, valued at approximately $3,107,675.72. This trade represents a 0.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 20,662 shares of company stock worth $5,443,526 in the last ninety days. 0.65% of the stock is owned by company insiders.

ResMed Stock Down 0.2%

Shares of RMD opened at $255.23 on Thursday. The firm has a market cap of $37.25 billion, a P/E ratio of 26.84, a PEG ratio of 1.75 and a beta of 0.87. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81. The stock’s 50 day moving average is $262.31 and its two-hundred day moving average is $263.43. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11.

ResMed (NYSE:RMD) last announced its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the firm posted $2.20 EPS. The business’s revenue was up 9.1% on a year-over-year basis. Analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, November 13th. ResMed’s dividend payout ratio (DPR) is presently 24.56%.

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.