ResMed Inc. (NYSE:RMD) Holdings Trimmed by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its position in shares of ResMed Inc. (NYSE:RMD) by 4.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,725 shares of the medical equipment provider’s stock after selling 878 shares during the period. Mutual of America Capital Management LLC’s holdings in ResMed were worth $3,393,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hendershot Investments Inc. purchased a new position in shares of ResMed during the 4th quarter valued at $7,581,000. Executive Wealth Management LLC grew its holdings in shares of ResMed by 8.7% during the 4th quarter. Executive Wealth Management LLC now owns 10,972 shares of the medical equipment provider’s stock valued at $1,888,000 after acquiring an additional 880 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of ResMed during the 4th quarter valued at $423,000. Tobam grew its holdings in shares of ResMed by 93.1% during the 4th quarter. Tobam now owns 815 shares of the medical equipment provider’s stock valued at $140,000 after acquiring an additional 393 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of ResMed during the 4th quarter valued at $45,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RMD. Oppenheimer boosted their price target on shares of ResMed from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Mizuho restated a “buy” rating and set a $215.00 price target on shares of ResMed in a report on Wednesday, March 27th. 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 note on Thursday, January 25th. Royal Bank of Canada lifted their price objective on shares of ResMed from $181.00 to $182.00 and gave the company a “sector perform” rating in a research note on Thursday, January 25th. Finally, 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 note on Tuesday, January 9th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $199.20.

Insider Activity

In other news, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the transaction, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the transaction, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the transaction, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,216 shares of company stock valued at $2,046,617. Insiders own 1.21% of the company’s stock.

ResMed Stock Down 6.0 %

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

ResMed (NYSE:RMD) last released its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.07. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The business’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.66 EPS. As a group, analysts forecast that ResMed Inc. will post 7.46 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 8th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Wednesday, February 7th. ResMed’s dividend payout ratio is currently 31.74%.

About ResMed

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.