Mutual of America Capital Management LLC Sells 878 Shares of ResMed Inc. (NYSE:RMD)

Mutual of America Capital Management LLC lowered its holdings in ResMed Inc. (NYSE:RMD) by 4.3% in the fourth quarter, Holdings Channel reports. The firm owned 19,725 shares of the medical equipment provider’s stock after selling 878 shares during the quarter. Mutual of America Capital Management LLC’s holdings in ResMed were worth $3,393,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC bought a new position in ResMed in the third quarter valued at $26,000. Compass Wealth Management LLC bought a new position in ResMed in the fourth quarter valued at $26,000. International Assets Investment Management LLC bought a new position in ResMed in the third quarter valued at $27,000. EverSource Wealth Advisors LLC grew its position in ResMed by 224.6% in the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 128 shares in the last quarter. Finally, Riverview Trust Co grew its position in ResMed by 255.9% in the third quarter. Riverview Trust Co now owns 210 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 151 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

Insiders Place Their Bets

In other ResMed news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the sale, the general counsel now owns 6,688 shares in the company, valued at approximately $1,158,696. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the sale, the general counsel now owns 6,688 shares in the company, valued at approximately $1,158,696. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the sale, the director now owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Insiders sold 11,216 shares of company stock worth $2,046,617 in the last quarter. 1.21% of the stock is currently owned by corporate insiders.

ResMed Stock Performance

NYSE RMD opened at $173.86 on Thursday. The firm has a 50-day moving average of $186.42 and a 200-day moving average of $170.17. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11. The stock has a market cap of $25.57 billion, a PE ratio of 28.74, a P/E/G ratio of 2.29 and a beta of 0.67. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $243.52.

ResMed (NYSE:RMD) last posted its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.07. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. ResMed had a net margin of 19.77% and a return on equity of 23.86%. ResMed’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.66 EPS. On average, sell-side analysts anticipate that ResMed Inc. will post 7.46 EPS for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 8th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.10%. The ex-dividend date was Wednesday, February 7th. ResMed’s dividend payout ratio (DPR) is 31.74%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research report on Tuesday, January 9th. KeyCorp assumed coverage on shares of ResMed in a research report on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 price objective for the company. UBS Group lifted their price objective on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Needham & Company LLC lifted their price objective on shares of ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Finally, Oppenheimer lifted their price objective on shares of ResMed from $185.00 to $205.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, ResMed has an average rating of “Moderate Buy” and a consensus price target of $199.20.

ResMed Company 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.