Vaughan David Investments LLC IL Purchases Shares of 170,459 ResMed Inc. (NYSE:RMD)

Vaughan David Investments LLC IL purchased a new stake in shares of ResMed Inc. (NYSE:RMDFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 170,459 shares of the medical equipment provider’s stock, valued at approximately $29,322,000.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of ResMed by 3.3% in the first quarter. Geode Capital Management LLC now owns 3,231,885 shares of the medical equipment provider’s stock worth $706,314,000 after buying an additional 103,438 shares during the period. Morgan Stanley increased its holdings in shares of ResMed by 102.4% in the third quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock worth $344,481,000 after buying an additional 1,178,547 shares during the period. Norges Bank purchased a new position in shares of ResMed in the fourth quarter worth about $244,477,000. abrdn plc increased its holdings in shares of ResMed by 79.2% in the third quarter. abrdn plc now owns 901,485 shares of the medical equipment provider’s stock worth $133,303,000 after buying an additional 398,302 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of ResMed by 12.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 849,576 shares of the medical equipment provider’s stock worth $176,822,000 after buying an additional 92,261 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on RMD. KeyCorp began coverage on ResMed in a report on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 price objective on the stock. UBS Group raised their target price on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Mizuho reissued a “buy” rating and issued a $215.00 target price on shares of ResMed in a research note on Wednesday, March 27th. Royal Bank of Canada raised their target price on ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 25th. Finally, Oppenheimer raised their target price on ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and an average price target of $199.20.

Read Our Latest Analysis on ResMed

ResMed Stock Down 1.9 %

ResMed stock traded down $3.65 during trading hours on Friday, hitting $185.86. 657,149 shares of the stock traded hands, compared to its average volume of 983,021. The firm’s 50-day moving average price is $187.01 and its two-hundred day moving average price is $168.98. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. The company has a market cap of $27.34 billion, a PE ratio of 31.32, a PEG ratio of 2.40 and a beta of 0.67. ResMed Inc. has a one year low of $132.24 and a one year high of $243.52.

ResMed (NYSE:RMDGet Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.07. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The business’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.66 EPS. On average, research analysts forecast that ResMed Inc. will post 7.45 EPS for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 8th were given a $0.48 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.03%. ResMed’s dividend payout ratio is currently 31.74%.

Insider Transactions at ResMed

In other news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the sale, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the transaction, the general counsel now directly owns 6,688 shares in the company, valued at approximately $1,158,696. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was 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 disclosure for this sale can be found here. Insiders have sold a total of 11,216 shares of company stock valued at $2,046,617 in the last ninety days. 1.21% of the stock is currently owned by corporate insiders.

ResMed Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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