First Hawaiian Bank Sells 3,327 Shares of ResMed Inc. (NYSE:RMD)

First Hawaiian Bank reduced its stake in shares of ResMed Inc. (NYSE:RMD) by 20.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 13,177 shares of the medical equipment provider’s stock after selling 3,327 shares during the period. First Hawaiian Bank’s holdings in ResMed were worth $2,522,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dorsey & Whitney Trust CO LLC lifted its position in shares of ResMed by 3.7% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock worth $292,000 after acquiring an additional 52 shares in the last quarter. MV Capital Management Inc. boosted its holdings in shares of ResMed by 39.0% in the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after acquiring an additional 60 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of ResMed by 1.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider’s stock worth $631,000 after acquiring an additional 60 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of ResMed by 7.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 902 shares of the medical equipment provider’s stock worth $155,000 after acquiring an additional 64 shares during the period. Finally, Gulf International Bank UK Ltd boosted its holdings in shares of ResMed by 0.5% in the first quarter. Gulf International Bank UK Ltd now owns 12,614 shares of the medical equipment provider’s stock worth $2,497,000 after acquiring an additional 66 shares during the period. 54.98% of the stock is owned by institutional investors.

ResMed Trading Down 3.6 %

NYSE:RMD traded down $7.96 on Monday, hitting $215.68. The stock had a trading volume of 1,547,474 shares, compared to its average volume of 1,067,435. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. The stock has a market cap of $31.69 billion, a price-to-earnings ratio of 32.94, a PEG ratio of 1.85 and a beta of 0.66. The company has a fifty day moving average price of $203.89 and a two-hundred day moving average price of $196.65. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $225.68.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.58%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the firm posted $1.60 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities research analysts expect that ResMed Inc. will post 8.71 earnings per share for the current fiscal year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio (DPR) is 29.49%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RMD shares. Needham & Company LLC reissued a “buy” rating and set a $236.00 price objective on shares of ResMed in a research note on Friday. KeyCorp lifted their price objective on ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research note on Friday. Royal Bank of Canada lifted their price objective on ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a research note on Friday. Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Finally, Oppenheimer downgraded ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $204.70.

Insider Activity

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the completion of the transaction, the chief executive officer now directly owns 440,752 shares in the company, valued at approximately $95,422,808. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the sale, the chief executive officer now directly owns 440,752 shares of the company’s stock, valued at $95,422,808. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Witte Jan De sold 360 shares of the stock in a transaction dated 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 approximately $1,641,322.51. The disclosure for this sale can be found here. Insiders sold 46,409 shares of company stock worth $9,602,796 in the last 90 days. 1.21% of the stock is currently owned by corporate insiders.

About ResMed

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.