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

Huntington National Bank increased its stake in shares of ResMed Inc. (NYSE:RMD) by 9.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,042 shares of the medical equipment provider’s stock after buying an additional 174 shares during the period. Huntington National Bank’s holdings in ResMed were worth $467,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Howard Capital Management Inc. increased its holdings in ResMed by 5.3% in the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock worth $206,000 after acquiring an additional 45 shares during the last quarter. SkyView Investment Advisors LLC boosted its position in ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after purchasing an additional 51 shares during the period. Wedmont Private Capital increased its stake in shares of ResMed by 2.6% in the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock worth $475,000 after purchasing an additional 52 shares in the last quarter. HighPoint Advisor Group LLC raised its position in shares of ResMed by 2.6% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,570 shares of the medical equipment provider’s stock valued at $610,000 after purchasing an additional 64 shares during the period. Finally, Brooklyn Investment Group lifted its stake in shares of ResMed by 8.1% during the 4th quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider’s stock valued at $208,000 after buying an additional 68 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

NYSE RMD opened at $204.72 on Friday. ResMed Inc. has a 52-week low of $172.19 and a 52-week high of $263.05. The company has a fifty day moving average of $230.74 and a 200-day moving average of $237.04. The company has a market capitalization of $30.07 billion, a P/E ratio of 24.17, a P/E/G ratio of 1.53 and a beta of 0.74. 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 (NYSE:RMD) last issued its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) 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 predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

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

Insider Buying and Selling at ResMed

In related news, insider Kaushik Ghoshal sold 9,745 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the completion of the sale, the insider now directly owns 9,725 shares in the company, valued at $2,327,289.75. This represents a 50.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,004 shares of company stock worth $9,618,128 over the last ninety days. Insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. KeyCorp increased their price objective on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Stifel Nicolaus reduced their target price on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. 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 analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.73.

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.