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

First Hawaiian Bank grew its position in shares of ResMed Inc. (NYSE:RMD) by 13.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Birch Capital Management LLC raised its position in ResMed by 21.4% during the fourth quarter. Birch Capital Management LLC now owns 35,543 shares of the medical equipment provider’s stock valued at $8,128,000 after purchasing an additional 6,268 shares during the period. Nordea Investment Management AB raised its holdings in shares of ResMed by 92.7% in the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock valued at $103,214,000 after acquiring an additional 215,561 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of ResMed by 21.8% in the 4th quarter. GAMMA Investing LLC now owns 3,046 shares of the medical equipment provider’s stock worth $697,000 after purchasing an additional 545 shares during the period. Versant Capital Management Inc boosted its stake in shares of ResMed by 66.3% during the fourth quarter. Versant Capital Management Inc now owns 459 shares of the medical equipment provider’s stock valued at $105,000 after purchasing an additional 183 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of ResMed by 2.9% during the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after purchasing an additional 5,284 shares in the last quarter. Institutional investors 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 business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the sale, the director now directly owns 81,218 shares in the company, valued at $19,951,201.70. This represents a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the transaction, the insider now owns 21,718 shares of the company’s stock, valued at $5,279,428.62. This trade represents a 22.10 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,359 shares of company stock worth $3,735,309. 0.71% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on RMD shares. Stifel Nicolaus assumed coverage on shares of ResMed in a research report on Friday, December 13th. They set a “hold” rating and a $250.00 price target for the company. Baird R W raised shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. KeyCorp lifted their price target on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Bank of America upped their target price on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Wolfe Research reissued an “underperform” rating and issued a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.91.

ResMed Price Performance

Shares of ResMed stock traded down $0.53 on Wednesday, reaching $235.87. The company’s stock 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 company has a market capitalization of $34.62 billion, a P/E ratio of 31.24, a PEG ratio of 1.73 and a beta of 0.70. The stock has a 50-day moving average price of $240.32 and a 200-day moving average price of $230.45. ResMed Inc. has a 52-week low of $168.29 and a 52-week high of $260.49.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. ResMed’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.64 EPS. Analysts expect that ResMed Inc. will post 9.34 EPS for the current year.

ResMed Announces Dividend

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

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.