Mutual of America Capital Management LLC Sells 435 Shares of ResMed Inc. (NYSE:RMD)

Mutual of America Capital Management LLC cut its stake in shares of ResMed Inc. (NYSE:RMD) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,134 shares of the medical equipment provider’s stock after selling 435 shares during the period. Mutual of America Capital Management LLC’s holdings in ResMed were worth $4,427,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Natixis Advisors LLC grew its stake in ResMed by 31.9% during the third quarter. Natixis Advisors LLC now owns 51,498 shares of the medical equipment provider’s stock valued at $12,572,000 after acquiring an additional 12,445 shares in the last quarter. Archer Investment Corp boosted its holdings in ResMed by 5,159.1% in the 3rd quarter. Archer Investment Corp now owns 1,157 shares of the medical equipment provider’s stock valued at $282,000 after purchasing an additional 1,135 shares during the period. Empowered Funds LLC grew its position in shares of ResMed by 284.3% during the 3rd quarter. Empowered Funds LLC now owns 8,208 shares of the medical equipment provider’s stock valued at $2,004,000 after purchasing an additional 6,072 shares in the last quarter. Empirical Finance LLC increased its holdings in shares of ResMed by 2.0% in the third quarter. Empirical Finance LLC now owns 5,009 shares of the medical equipment provider’s stock worth $1,223,000 after purchasing an additional 99 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in shares of ResMed by 7.9% in the third quarter. CIBC Asset Management Inc now owns 21,687 shares of the medical equipment provider’s stock worth $5,294,000 after purchasing an additional 1,581 shares during the period. 54.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ResMed

In other news, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $246.42, for a total value of $246,420.00. Following the sale, the chief financial officer now directly owns 96,812 shares in the company, valued at approximately $23,856,413.04. This trade represents a 1.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of the business’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 value of $3,646,963.54. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold 62,174 shares of company stock valued at $14,882,278 in the last quarter. Company insiders own 0.71% of the company’s stock.

ResMed Stock Up 0.8 %

Shares of NYSE:RMD opened at $243.60 on Friday. The stock has a market capitalization of $35.76 billion, a P/E ratio of 32.26, a price-to-earnings-growth ratio of 1.73 and a beta of 0.69. The stock’s 50-day moving average price is $241.96 and its 200-day moving average price is $224.23. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12-month low of $151.95 and a 12-month high of $260.49.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.64 EPS. On average, equities analysts anticipate that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. ResMed’s dividend payout ratio is currently 28.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RMD shares. Bank of America lifted their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Robert W. Baird upped their price objective 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. Royal Bank of Canada raised their target price on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, KeyCorp boosted their price target on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $225.70.

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.