Jump Financial LLC Grows Stock Position in ResMed Inc. (NYSE:RMD)

Jump Financial LLC boosted its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 24.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,978 shares of the medical equipment provider's stock after buying an additional 1,552 shares during the period. Jump Financial LLC's holdings in ResMed were worth $1,824,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RMD. OFI Invest Asset Management bought a new stake in ResMed in the fourth quarter worth $39,000. BankPlus Trust Department acquired a new stake in shares of ResMed in the fourth quarter valued at about $44,000. Rosenberg Matthew Hamilton purchased a new position in ResMed during the fourth quarter worth about $54,000. SBI Securities Co. Ltd. purchased a new stake in shares of ResMed in the 4th quarter valued at approximately $67,000. Finally, Kentucky Trust Co purchased a new position in ResMed in the fourth quarter valued at $82,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Performance

ResMed stock traded up $23.53 during mid-day trading on Thursday, reaching $237.97. The company's stock had a trading volume of 971,529 shares, compared to its average volume of 1,025,247. The firm's fifty day moving average price is $221.75 and its two-hundred day moving average price is $234.03. The company has a market capitalization of $34.95 billion, a P/E ratio of 28.14, a PEG ratio of 1.53 and a beta of 0.75. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. ResMed Inc. has a 12-month low of $179.00 and a 12-month high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.37. The firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Sell-side analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Thursday, February 13th. ResMed's dividend payout ratio (DPR) is 25.03%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RMD. Morgan Stanley initiated coverage on ResMed in a report on Wednesday, March 19th. They set an "overweight" rating and a $280.00 price target on the stock. Piper Sandler reduced their price objective on ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a research note on Thursday. JPMorgan Chase & Co. boosted their price target on ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday. StockNews.com upgraded ResMed from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. Finally, The Goldman Sachs Group started coverage on shares of ResMed in a report on Thursday, January 16th. They issued a "buy" rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $249.83.

Insider Buying and Selling

In other news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the sale, the chief executive officer now owns 455,472 shares of the company's stock, valued at $107,842,105.44. This represents a 1.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Kaushik Ghoshal sold 9,113 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the sale, the insider now owns 9,725 shares in the company, valued at approximately $2,289,265. This trade represents a 48.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,013 shares of company stock worth $11,298,816. Insiders own 0.71% of the company's stock.

ResMed 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.