Vaughan David Investments LLC IL Sells 4,092 Shares of ResMed Inc. $RMD

Vaughan David Investments LLC IL reduced its position in ResMed Inc. (NYSE:RMD) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 204,137 shares of the medical equipment provider’s stock after selling 4,092 shares during the period. ResMed makes up 1.2% of Vaughan David Investments LLC IL’s investment portfolio, making the stock its 24th largest holding. Vaughan David Investments LLC IL owned about 0.14% of ResMed worth $55,878,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of RMD. Jones Financial Companies Lllp increased its position in shares of ResMed by 52.6% during the first quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock worth $645,000 after acquiring an additional 994 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in ResMed by 264.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 39,708 shares of the medical equipment provider’s stock worth $10,245,000 after purchasing an additional 28,801 shares in the last quarter. Diversified Trust Co purchased a new stake in shares of ResMed in the second quarter worth approximately $274,000. Park Avenue Securities LLC bought a new position in shares of ResMed in the second quarter valued at approximately $1,389,000. Finally, ABLE Financial Group LLC grew its holdings in ResMed by 13.7% during the second quarter. ABLE Financial Group LLC now owns 2,305 shares of the medical equipment provider’s stock worth $595,000 after buying an additional 277 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

NYSE:RMD opened at $257.50 on Tuesday. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.89 and a quick ratio of 2.13. The business has a fifty day simple moving average of $249.59 and a two-hundred day simple moving average of $263.32. The company has a market capitalization of $37.58 billion, a P/E ratio of 26.38, a P/E/G ratio of 1.73 and a beta of 0.88.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.06. ResMed had a return on equity of 25.45% and a net margin of 27.35%.The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the company earned $2.20 EPS. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. ResMed’s payout ratio is 24.56%.

Insider Activity

In related news, Director Witte Jan De sold 2,055 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $255.00, for a total transaction of $524,025.00. Following the sale, the director directly owned 4,261 shares in the company, valued at approximately $1,086,555. This represents a 32.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $248.83, for a total transaction of $497,660.00. Following the sale, the director directly owned 66,773 shares in the company, valued at $16,615,125.59. The trade was a 2.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,594 shares of company stock valued at $5,403,495 over the last quarter. Company insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on RMD. Robert W. Baird reiterated a “neutral” rating and issued a $275.00 target price (down previously from $300.00) on shares of ResMed in a report on Tuesday, December 16th. Baird R W downgraded ResMed from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. UBS Group reaffirmed a “buy” rating and issued a $345.00 target price on shares of ResMed in a report on Friday, December 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ResMed in a research report on Monday, December 29th. Finally, Morgan Stanley set a $305.00 price objective on ResMed in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and a consensus price target of $296.09.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.