Mutual of America Capital Management LLC Lowers Holdings in ResMed Inc. (NYSE:RMD)

Mutual of America Capital Management LLC reduced its stake in shares of ResMed Inc. (NYSE:RMD) by 3.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,569 shares of the medical equipment provider’s stock after selling 760 shares during the quarter. Mutual of America Capital Management LLC’s holdings in ResMed were worth $3,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in ResMed by 24.9% in the 1st 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 last quarter. Mediolanum International Funds Ltd purchased a new stake in shares of ResMed in the first quarter worth about $2,246,000. Janney Montgomery Scott LLC boosted its stake in ResMed by 5.3% during the first quarter. Janney Montgomery Scott LLC now owns 81,313 shares of the medical equipment provider’s stock valued at $16,102,000 after buying an additional 4,075 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in ResMed by 3,599.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock valued at $98,823,000 after buying an additional 485,540 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in ResMed in the 4th quarter worth approximately $7,535,000. Institutional investors own 54.98% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $192.97, for a total value of $2,833,378.51. Following the completion of the sale, the chief executive officer now owns 440,799 shares in the company, valued at $85,060,983.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction on Monday, July 8th. The stock was sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the completion of the sale, the chief executive officer now directly owns 440,799 shares of the company’s stock, valued at approximately $85,060,983.03. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the transaction, the insider now directly owns 21,788 shares in the company, valued at approximately $5,502,777.28. The disclosure for this sale can be found here. Insiders have sold 102,931 shares of company stock worth $22,644,807 in the last three months. Corporate insiders own 1.21% of the company’s stock.

ResMed Trading Up 0.5 %

Shares of NYSE RMD opened at $246.18 on Tuesday. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $255.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. The company has a market cap of $36.17 billion, a price-to-earnings ratio of 37.82, a PEG ratio of 2.50 and a beta of 0.69. The business’s 50 day moving average price is $227.73 and its 200-day moving average price is $209.99.

ResMed (NYSE:RMD) last released its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.60 earnings per share. On average, sell-side analysts expect that ResMed Inc. will post 8.92 earnings per share for the current year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.86%. This is a boost from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, August 15th. ResMed’s payout ratio is 32.57%.

Wall Street Analyst Weigh In

RMD has been the subject of a number of research reports. StockNews.com downgraded ResMed from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Wednesday, September 18th. Wolfe Research restated an “underperform” rating and issued a $180.00 target price on shares of ResMed in a report on Wednesday, September 18th. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Finally, Citigroup cut ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, ResMed has a consensus rating of “Hold” and a consensus price target of $199.70.

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.