Jump Financial LLC Has $290,000 Stake in ResMed Inc. (NYSE:RMD)

Jump Financial LLC reduced its stake in shares of ResMed Inc. (NYSE:RMD) by 88.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,685 shares of the medical equipment provider’s stock after selling 12,481 shares during the period. Jump Financial LLC’s holdings in ResMed were worth $290,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Morgan Stanley increased its position in shares of ResMed by 102.4% during the third quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock worth $344,481,000 after buying an additional 1,178,547 shares during the period. LGT Capital Partners LTD. acquired a new stake in ResMed during the 4th quarter worth about $117,621,000. abrdn plc raised its position in shares of ResMed by 79.2% in the 3rd quarter. abrdn plc now owns 901,485 shares of the medical equipment provider’s stock worth $133,303,000 after acquiring an additional 398,302 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of ResMed by 109.9% in the 3rd quarter. Hsbc Holdings PLC now owns 490,214 shares of the medical equipment provider’s stock valued at $72,785,000 after purchasing an additional 256,624 shares during the period. Finally, UBS Group AG boosted its position in shares of ResMed by 109.3% during the 3rd quarter. UBS Group AG now owns 457,717 shares of the medical equipment provider’s stock valued at $67,683,000 after purchasing an additional 239,001 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of RMD stock opened at $213.26 on Monday. The firm’s 50 day moving average is $200.16 and its 200 day moving average is $182.58. The stock has a market capitalization of $31.33 billion, a P/E ratio of 32.76, a PEG ratio of 2.11 and a beta of 0.64. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $229.97. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the firm posted $1.68 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that ResMed Inc. will post 7.64 earnings per share for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.92 annualized dividend and a yield of 0.90%. ResMed’s dividend payout ratio is currently 29.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RMD shares. KeyCorp lifted their target price on ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Royal Bank of Canada upped their target price on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. Needham & Company LLC increased their price target on ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Mizuho reissued a “buy” rating and issued a $215.00 price target on shares of ResMed in a report on Wednesday, March 27th. Finally, Oppenheimer decreased their price objective on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $202.80.

Insider Buying and Selling at ResMed

In related news, Director Witte Jan De sold 360 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total transaction of $78,584.40. Following the completion of the transaction, the director now owns 7,519 shares of the company’s stock, valued at $1,641,322.51. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Witte Jan De sold 360 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total transaction of $78,584.40. Following the completion of the transaction, the director now directly owns 7,519 shares in the company, valued at $1,641,322.51. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the sale, the general counsel now directly owns 6,688 shares of the company’s stock, valued at $1,158,696. The disclosure for this sale can be found here. Insiders sold 15,749 shares of company stock valued at $3,398,025 in the last quarter. 1.21% of the stock is currently owned by corporate insiders.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.