Vaughan David Investments LLC IL Acquires 2,158 Shares of ResMed Inc. (NYSE:RMD)

Vaughan David Investments LLC IL increased its position in shares of ResMed Inc. (NYSE:RMD) by 1.1% during the 4th quarter, HoldingsChannel reports. The fund owned 206,222 shares of the medical equipment provider’s stock after purchasing an additional 2,158 shares during the quarter. Vaughan David Investments LLC IL’s holdings in ResMed were worth $47,161,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in RMD. Peak Financial Advisors LLC bought a new position in shares of ResMed during the fourth quarter worth about $2,972,000. Principal Financial Group Inc. lifted its position in shares of ResMed by 2.9% in the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after buying an additional 5,284 shares during the last quarter. Spire Wealth Management lifted its holdings in ResMed by 11.3% during the 4th quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after purchasing an additional 1,100 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in ResMed by 2.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider’s stock worth $14,105,000 after purchasing an additional 1,629 shares during the last quarter. Finally, Retireful LLC acquired a new stake in ResMed during the 3rd quarter worth approximately $742,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,147 shares of company stock valued at $2,905,745 over the last 90 days. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the topic of a number of research reports. Piper Sandler boosted their price objective on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their target price on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Stifel Nicolaus began coverage on ResMed in a report on Friday, December 13th. They issued a “hold” rating and a $250.00 price target on the stock. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Finally, KeyCorp increased their price target on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

ResMed Stock Performance

Shares of NYSE:RMD opened at $229.47 on Tuesday. The firm has a market cap of $33.70 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 1.53 and a beta of 0.70. The firm’s 50 day simple moving average is $237.20 and its 200-day simple moving average is $239.52. ResMed Inc. has a one year low of $170.56 and a one year 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.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, equities analysts predict that ResMed Inc. will post 9.47 EPS 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 of this dividend is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.92%. 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.