ResMed Inc. (NYSE:RMD) Stock Holdings Trimmed by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division reduced its position in shares of ResMed Inc. (NYSE:RMD) by 75.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 515 shares of the medical equipment provider’s stock after selling 1,620 shares during the period. Central Pacific Bank Trust Division’s holdings in ResMed were worth $126,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of ResMed by 24.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock valued at $35,068,000 after acquiring an additional 35,273 shares during the period. Mediolanum International Funds Ltd acquired a new position in ResMed in the 1st quarter valued at approximately $2,246,000. Janney Montgomery Scott LLC lifted its position in ResMed by 5.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 81,313 shares of the medical equipment provider’s stock worth $16,102,000 after buying an additional 4,075 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in ResMed by 3,599.0% in the 1st quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock worth $98,823,000 after buying an additional 485,540 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of ResMed during the 4th quarter valued at $7,535,000. 54.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RMD has been the topic of a number of research reports. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Robert W. Baird began coverage on shares of ResMed in a report on Tuesday, September 24th. They issued an “outperform” rating and a $280.00 price objective for the company. StockNews.com lowered ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 30th. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.75.

ResMed Stock Performance

RMD opened at $233.98 on Friday. The company has a market capitalization of $34.37 billion, a price-to-earnings ratio of 35.94, a P/E/G ratio of 2.36 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. The business’s 50-day moving average price is $234.03 and its two-hundred day moving average price is $212.81. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $255.18.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.05. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The company’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.60 earnings per share. Equities analysts expect that ResMed Inc. will post 8.97 EPS for the current fiscal year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 15th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a yield of 0.91%. This is an increase from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio is currently 32.57%.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $237.20, for a total value of $474,400.00. Following the completion of the transaction, the director now owns 85,204 shares of the company’s stock, valued at approximately $20,210,388.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $217.07, for a total value of $10,419,360.00. Following the sale, the insider now directly owns 18,741 shares in the company, valued at $4,068,108.87. This represents a 0.00 % 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 Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $237.20, for a total transaction of $474,400.00. Following the completion of the transaction, the director now owns 85,204 shares in the company, valued at approximately $20,210,388.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 104,931 shares of company stock worth $23,119,207. 1.21% of the stock is currently owned by company insiders.

ResMed Profile

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.