Mutual of America Capital Management LLC Sells 269 Shares of ResMed Inc. $RMD

Mutual of America Capital Management LLC lowered its stake in shares of ResMed Inc. (NYSE:RMD) by 1.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 16,847 shares of the medical equipment provider’s stock after selling 269 shares during the period. Mutual of America Capital Management LLC’s holdings in ResMed were worth $4,347,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Golden State Wealth Management LLC lifted its position in ResMed by 384.8% during the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 127 shares during the period. Zions Bancorporation National Association UT bought a new position in shares of ResMed during the 1st quarter valued at $45,000. Groupe la Francaise bought a new position in shares of ResMed during the 1st quarter valued at $45,000. Harbour Investments Inc. lifted its holdings in shares of ResMed by 264.2% during the 2nd quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock valued at $63,000 after buying an additional 177 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in shares of ResMed by 926.7% during the 1st quarter. Larson Financial Group LLC now owns 308 shares of the medical equipment provider’s stock valued at $69,000 after buying an additional 278 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

NYSE RMD opened at $266.32 on Thursday. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81. The stock has a market cap of $38.87 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 1.79 and a beta of 0.83. The company’s 50 day moving average is $276.14 and its two-hundred day moving average is $258.27. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11.

ResMed (NYSE:RMD) last released its earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the business earned $2.08 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. As a group, research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 14th were paid a dividend of $0.60 per share. This is a boost from ResMed’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.9%. ResMed’s dividend payout ratio is 25.24%.

Insider Activity

In other news, General Counsel Michael J. Rider sold 100 shares of ResMed stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total transaction of $27,436.00. Following the sale, the general counsel owned 11,327 shares in the company, valued at $3,107,675.72. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $282.85, for a total transaction of $2,265,345.65. Following the completion of the sale, the chief executive officer owned 467,792 shares in the company, valued at approximately $132,314,967.20. This represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,743 shares of company stock worth $5,284,514 over the last quarter. Insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RMD. Royal Bank Of Canada increased their target price on ResMed from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Mizuho increased their price objective on shares of ResMed from $270.00 to $290.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Stifel Nicolaus increased their price objective on shares of ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, August 1st. Citigroup began coverage on shares of ResMed in a research note on Thursday, September 18th. They issued a “buy” rating and a $330.00 price objective on the stock. Finally, William Blair upgraded shares of ResMed to a “strong-buy” rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $294.55.

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.