Huntington National Bank Buys 120 Shares of ResMed Inc. (NYSE:RMD)

Huntington National Bank grew its position in ResMed Inc. (NYSE:RMD) by 6.9% in the third quarter, Holdings Channel.com reports. The fund owned 1,868 shares of the medical equipment provider’s stock after buying an additional 120 shares during the period. Huntington National Bank’s holdings in ResMed were worth $456,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in shares of ResMed by 51.4% during the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock valued at $1,105,022,000 after acquiring an additional 1,959,642 shares during the period. Marshall Wace LLP acquired a new position in shares of ResMed in the 2nd quarter worth approximately $77,285,000. Greenvale Capital LLP grew its holdings in shares of ResMed by 61.1% during the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after purchasing an additional 275,000 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in shares of ResMed by 48.3% in the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock valued at $141,694,000 after buying an additional 241,195 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of ResMed in the second quarter valued at about $42,036,000. Institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Robert W. Baird lifted their price target on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. KeyCorp upped their price objective on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Baird R W upgraded ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $225.70.

ResMed Price Performance

Shares of RMD opened at $234.74 on Friday. ResMed Inc. has a twelve month low of $147.39 and a twelve month high of $260.49. The company has a 50 day moving average of $242.83 and a 200-day moving average of $223.55. The stock has a market capitalization of $34.46 billion, a P/E ratio of 31.09, a P/E/G ratio of 1.71 and a beta of 0.69. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. ResMed’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.64 earnings per share. As a group, equities research analysts forecast that ResMed Inc. will post 9.28 EPS for the current fiscal year.

ResMed Announces Dividend

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

Insider Activity

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the completion of the sale, the chief executive officer now directly owns 464,169 shares in the company, valued at $115,290,296.22. This trade represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Witte Jan De sold 796 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the transaction, the director now directly owns 6,723 shares in the company, valued at $1,672,749.63. The trade was a 10.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,056 shares of company stock valued at $15,086,020 over the last three months. Insiders own 0.71% of the company’s stock.

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.