First Hawaiian Bank Grows Stock Holdings in ResMed Inc. (NYSE:RMD)

First Hawaiian Bank grew its holdings in shares of ResMed Inc. (NYSE:RMD) by 13.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 15,848 shares of the medical equipment provider’s stock after purchasing an additional 1,852 shares during the period. First Hawaiian Bank’s holdings in ResMed were worth $3,624,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. UMB Bank n.a. boosted its holdings in ResMed by 1.9% in the third quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock valued at $602,000 after purchasing an additional 47 shares in the last quarter. Ascent Group LLC grew its position in shares of ResMed by 1.7% in the 3rd quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock valued at $714,000 after buying an additional 48 shares during the last quarter. SkyView Investment Advisors LLC raised its stake in ResMed by 2.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after acquiring an additional 51 shares in the last quarter. Inspire Advisors LLC lifted its position in ResMed by 1.9% in the second quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock valued at $586,000 after acquiring an additional 56 shares during the last quarter. Finally, Concurrent Investment Advisors LLC boosted its stake in ResMed by 3.1% in the third quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock valued at $469,000 after acquiring an additional 57 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ResMed

In other news, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the transaction, the insider now directly owns 21,718 shares of the company’s stock, valued at $5,279,428.62. The trade was a 22.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the sale, the director now directly owns 81,218 shares in the company, valued at approximately $19,951,201.70. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,359 shares of company stock valued at $3,735,309 in the last 90 days. 0.71% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on RMD. Bank of America lifted their target price on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Baird R W upgraded ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Robert W. Baird upped their price target on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. KeyCorp raised their price objective on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Wolfe Research reiterated an “underperform” rating and set a $180.00 target price on shares of ResMed in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and a consensus price target of $227.91.

ResMed Price Performance

Shares of NYSE RMD traded down $0.53 during midday trading on Wednesday, hitting $235.87. The company had a trading volume of 874,289 shares, compared to its average volume of 694,140. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $240.32 and a two-hundred day simple moving average of $230.45. ResMed Inc. has a twelve month low of $168.29 and a twelve month high of $260.49. The firm has a market capitalization of $34.62 billion, a price-to-earnings ratio of 31.24, a price-to-earnings-growth ratio of 1.73 and a beta of 0.70.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the company earned $1.64 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. Equities research analysts anticipate that ResMed Inc. will post 9.34 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend was Thursday, November 7th. ResMed’s dividend payout ratio is currently 28.08%.

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.