ResMed Inc. (NYSE:RMD) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its position in ResMed Inc. (NYSE:RMD) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,624 shares of the medical equipment provider’s stock after selling 510 shares during the period. Mutual of America Capital Management LLC’s holdings in ResMed were worth $4,030,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of RMD. Geode Capital Management LLC boosted its stake in ResMed by 10.9% in the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after acquiring an additional 380,383 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in ResMed by 60.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock valued at $152,973,000 after acquiring an additional 250,746 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of ResMed by 726.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock worth $69,281,000 after buying an additional 249,454 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of ResMed in the fourth quarter worth $50,364,000. Finally, Nordea Investment Management AB raised its holdings in shares of ResMed by 92.7% in the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock worth $103,214,000 after buying an additional 215,561 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ResMed

In other news, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $235.40, for a total value of $2,145,200.20. Following the sale, the insider now owns 9,725 shares in the company, valued at $2,289,265. This trade represents a 48.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the sale, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,186 shares of company stock valued at $4,541,226. Corporate insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. KeyCorp raised their price target on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. JPMorgan Chase & Co. raised their price target on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Stifel Nicolaus decreased their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday. Finally, The Goldman Sachs Group assumed coverage on shares of ResMed in a report on Thursday, January 16th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and an average price target of $243.82.

ResMed Stock Down 3.3 %

RMD opened at $223.76 on Thursday. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The company has a fifty day moving average of $236.90 and a two-hundred day moving average of $239.90. The stock has a market capitalization of $32.86 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 1.53 and a beta of 0.70.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.95%. ResMed’s payout ratio is 25.03%.

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.