Jefferies Financial Group Inc. acquired a new stake in shares of ResMed Inc. (NYSE:RMD - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 103,833 shares of the medical equipment provider's stock, valued at approximately $20,235,000. Jefferies Financial Group Inc. owned approximately 0.07% of ResMed as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in RMD. Imprint Wealth LLC bought a new position in shares of ResMed in the 3rd quarter worth approximately $26,000. WFA of San Diego LLC purchased a new stake in ResMed in the second quarter worth $26,000. International Assets Investment Management LLC bought a new position in ResMed in the fourth quarter worth $25,000. Sunbelt Securities Inc. bought a new position in ResMed in the third quarter worth $31,000. Finally, Bell Investment Advisors Inc purchased a new position in ResMed during the second quarter valued at $26,000. Hedge funds and other institutional investors own 54.98% of the company's stock.
Insider Buying and Selling at ResMed
In other news, Director Peter C. Farrell sold 8,000 shares of the company's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the transaction, the director directly owned 52,773 shares of the company's stock, valued at $11,873,925. This represents a 13.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $205.69, for a total value of $1,026,598.79. Following the sale, the chief executive officer directly owned 466,256 shares in the company, valued at $95,904,196.64. This trade represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 22,973 shares of company stock valued at $4,885,436 in the last 90 days. Company insiders own 0.65% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on RMD shares. UBS Group reaffirmed a "buy" rating and issued a $300.00 target price on shares of ResMed in a research report on Tuesday, July 21st. Jefferies Financial Group lowered their price target on shares of ResMed from $240.00 to $225.00 and set a "hold" rating for the company in a research report on Friday, July 10th. Rothschild & Co Redburn started coverage on shares of ResMed in a research note on Wednesday, August 19th. They set a "neutral" rating and a $230.00 price objective on the stock. Royal Bank Of Canada raised their target price on shares of ResMed from $234.00 to $244.00 and gave the company a "sector perform" rating in a research note on Friday, August 7th. Finally, Citigroup reiterated 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. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $239.38.
View Our Latest Stock Report on RMD
ResMed Trading Down 0.0%
NYSE:RMD opened at $235.64 on Friday. The company's 50 day moving average price is $210.78 and its 200-day moving average price is $219.03. ResMed Inc. has a 52 week low of $180.26 and a 52 week high of $284.87. The company has a quick ratio of 2.42, a current ratio of 3.10 and a debt-to-equity ratio of 0.06. The stock has a market cap of $33.99 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 1.48 and a beta of 0.76.
ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.06. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.55 earnings per share. On average, equities research analysts forecast that ResMed Inc. will post 12.03 earnings per share for the current fiscal year.
ResMed Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, August 20th will be paid a $0.66 dividend. This is an increase from ResMed's previous quarterly dividend of $0.60. This represents a $2.64 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Thursday, August 20th. ResMed's dividend payout ratio (DPR) is presently 25.31%.
ResMed Company Profile
(
Free Report)
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.
Further Reading
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