Mutual of America Capital Management LLC trimmed its position in ResMed Inc. (NYSE:RMD) by 85.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,299 shares of the medical equipment provider’s stock after selling 98,581 shares during the quarter. Mutual of America Capital Management LLC’s holdings in ResMed were worth $1,254,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of RMD. FMR LLC increased its stake in shares of ResMed by 38.2% in the second quarter. FMR LLC now owns 5,542,582 shares of the medical equipment provider’s stock worth $431,601,000 after buying an additional 1,531,772 shares during the period. Koch Industries Inc. increased its position in ResMed by 17,065.2% during the 2nd quarter. Koch Industries Inc. now owns 985,796 shares of the medical equipment provider’s stock valued at $973,000 after purchasing an additional 980,053 shares during the period. BlackRock Inc. increased its position in ResMed by 6.8% during the 2nd quarter. BlackRock Inc. now owns 14,240,077 shares of the medical equipment provider’s stock valued at $1,108,877,000 after purchasing an additional 904,939 shares during the period. Vanguard Group Inc. increased its position in ResMed by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 11,914,671 shares of the medical equipment provider’s stock valued at $927,797,000 after purchasing an additional 378,964 shares during the period. Finally, First Trust Advisors LP increased its position in ResMed by 191.8% during the 2nd quarter. First Trust Advisors LP now owns 350,012 shares of the medical equipment provider’s stock valued at $27,255,000 after purchasing an additional 230,056 shares during the period. 59.66% of the stock is currently owned by institutional investors.
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In other news, CFO Brett Sandercock sold 1,250 shares of ResMed stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $84.50, for a total value of $105,625.00. Following the completion of the transaction, the chief financial officer now owns 71,772 shares in the company, valued at $6,064,734. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Pendarvis sold 6,364 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $77.21, for a total transaction of $491,364.44. Following the completion of the transaction, the insider now owns 93,172 shares of the company’s stock, valued at $7,193,810.12. The disclosure for this sale can be found here. Insiders sold 80,868 shares of company stock valued at $6,156,100 in the last quarter. Corporate insiders own 1.77% of the company’s stock.
RMD has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of ResMed from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research report on Thursday, October 12th. Citigroup Inc upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, August 2nd. BidaskClub cut shares of ResMed from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. BMO Capital Markets boosted their target price on shares of ResMed from $61.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, August 2nd. Finally, Credit Suisse Group cut shares of ResMed from an “outperform” rating to a “neutral” rating in a report on Tuesday, August 8th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $67.57.
ResMed Inc. (NYSE RMD) opened at $83.12 on Friday. The company has a market capitalization of $11.76 billion, a price-to-earnings ratio of 28.87, a P/E/G ratio of 1.84 and a beta of 0.79. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.72 and a quick ratio of 3.86.
ResMed (NYSE:RMD) last posted its earnings results on Thursday, October 26th. The medical equipment provider reported $0.66 earnings per share for the quarter, hitting the consensus estimate of $0.66. The firm had revenue of $523.66 million during the quarter, compared to the consensus estimate of $506.08 million. ResMed had a net margin of 16.58% and a return on equity of 21.53%. The company’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the company earned $0.62 earnings per share. equities analysts forecast that ResMed Inc. will post 3.01 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 9th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, November 8th. This represents a $1.40 annualized dividend and a dividend yield of 1.68%. ResMed’s payout ratio is 56.68%.
ResMed Company Profile
ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
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