Jefferies Financial Group Inc. Cuts Stock Holdings in ResMed Inc. (NYSE:RMD)

Jefferies Financial Group Inc. lowered its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 46.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,306 shares of the medical equipment provider's stock after selling 6,271 shares during the period. Jefferies Financial Group Inc.'s holdings in ResMed were worth $1,671,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Colonial Trust Co SC raised its position in ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock valued at $29,000 after acquiring an additional 125 shares in the last quarter. Optiver Holding B.V. acquired a new stake in ResMed during the fourth quarter worth about $33,000. Itau Unibanco Holding S.A. grew its holdings in shares of ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock worth $38,000 after purchasing an additional 150 shares in the last quarter. OFI Invest Asset Management acquired a new stake in ResMed during the fourth quarter worth $39,000. Finally, Coppell Advisory Solutions LLC raised its position in ResMed by 1,750.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider's stock worth $42,000 after purchasing an additional 175 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

Insider Transactions at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $227.71, for a total transaction of $455,420.00. Following the transaction, the director now owns 75,218 shares in the company, valued at $17,127,890.78. This represents a 2.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $229.20, for a total value of $1,835,662.80. Following the completion of the transaction, the chief executive officer now owns 455,472 shares in the company, valued at approximately $104,394,182.40. This represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,949 shares of company stock worth $11,335,320 over the last quarter. Company insiders own 0.71% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RMD. Citigroup raised shares of ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. KeyCorp set a $274.00 price objective on ResMed in a report on Thursday, April 24th. Piper Sandler reduced their price target on ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Mizuho set a $265.00 price objective on shares of ResMed in a report on Wednesday, April 16th. Finally, Morgan Stanley initiated coverage on ResMed in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $258.83.

ResMed Stock Down 1.2%

Shares of ResMed stock traded down $3.13 during trading hours on Tuesday, reaching $250.22. 463,527 shares of the company's stock were exchanged, compared to its average volume of 1,015,708. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $226.00 and a two-hundred day moving average of $234.17. The stock has a market cap of $36.69 billion, a P/E ratio of 29.54, a P/E/G ratio of 1.53 and a beta of 0.78. ResMed Inc. has a fifty-two week low of $179.42 and a fifty-two week high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The company's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.13 EPS. On average, sell-side analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed's dividend payout ratio is presently 23.79%.

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.