Huntington National Bank Acquires 174 Shares of ResMed Inc. (NYSE:RMD)

Huntington National Bank raised its holdings in shares of ResMed Inc. (NYSE:RMD) by 9.3% in the fourth quarter, HoldingsChannel reports. The firm owned 2,042 shares of the medical equipment provider’s stock after buying an additional 174 shares during the quarter. Huntington National Bank’s holdings in ResMed were worth $467,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. OFI Invest Asset Management purchased a new stake in ResMed in the fourth quarter worth $39,000. BankPlus Trust Department purchased a new stake in shares of ResMed in the 4th quarter worth about $44,000. Rosenberg Matthew Hamilton bought a new stake in shares of ResMed during the 4th quarter valued at about $54,000. SBI Securities Co. Ltd. purchased a new position in shares of ResMed during the fourth quarter valued at about $67,000. Finally, Kentucky Trust Co bought a new position in ResMed in the fourth quarter worth about $82,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on RMD. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. KeyCorp upped their price target on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. StockNews.com lowered ResMed from a “buy” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley started coverage on shares of ResMed in a research report on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 target price on the stock. Finally, Stifel Nicolaus lowered their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and an average target price of $249.73.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the transaction, the director now directly owns 77,218 shares of the company’s stock, valued at $18,695,249.98. This represents a 2.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kaushik Ghoshal sold 9,113 shares of the firm’s stock in a transaction on 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,004 shares of company stock valued at $9,618,128 in the last 90 days. 0.71% of the stock is currently owned by insiders.

ResMed Price Performance

Shares of RMD opened at $204.72 on Friday. The company has a market capitalization of $30.07 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. ResMed Inc. has a twelve month low of $172.19 and a twelve month high of $263.05. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $230.74 and a 200 day moving average of $237.04.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, equities research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s dividend payout ratio is currently 25.03%.

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.