7,693 Shares in ResMed Inc. $RMD Acquired by Banque Cantonale Vaudoise

Key Points

• Banque Cantonale Vaudoise disclosed a new first-quarter stake in ResMed, buying 7,693 shares valued at about $1.73 million.
• ResMed reported better-than-expected quarterly results, with EPS of $2.86 versus $2.79 expected and revenue of $1.43 billion, up 10.8% year over year.
• The company also paid a quarterly dividend of $0.60 per share, while analysts currently maintain a Moderate Buy consensus with a target price around $270.82.

Banque Cantonale Vaudoise bought a new stake in ResMed Inc. (NYSE:RMD - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,693 shares of the medical equipment provider's stock, valued at approximately $1,726,000.

Other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in ResMed during the fourth quarter valued at about $25,000. ORG Partners LLC boosted its stake in shares of ResMed by 181.6% during the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider's stock worth $26,000 after acquiring an additional 69 shares in the last quarter. Imprint Wealth LLC acquired a new position in shares of ResMed during the 3rd quarter valued at about $26,000. WFA of San Diego LLC acquired a new position in shares of ResMed during the 2nd quarter valued at about $26,000. Finally, Sunbelt Securities Inc. acquired a new position in shares of ResMed during the 3rd quarter valued at about $31,000. 54.98% of the stock is owned by institutional investors.

ResMed Stock Up 1.0%

Shares of RMD stock opened at $200.49 on Friday. ResMed Inc. has a one year low of $180.26 and a one year high of $293.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The stock has a fifty day moving average price of $203.31 and a 200 day moving average price of $231.18. The stock has a market cap of $29.08 billion, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 1.27 and a beta of 0.80.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, topping analysts' consensus estimates of $2.79 by $0.07. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The firm's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm earned $2.37 EPS. Analysts predict that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. ResMed's dividend payout ratio (DPR) is presently 23.14%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on RMD shares. KeyCorp reduced their target price on ResMed from $290.00 to $266.00 and set an "overweight" rating for the company in a report on Monday. Citigroup dropped their price target on shares of ResMed from $340.00 to $270.00 and set a "buy" rating on the stock in a research report on Monday, June 15th. Wells Fargo & Company reduced their price objective on shares of ResMed from $270.00 to $227.00 and set an "equal weight" rating for the company in a research note on Friday, May 1st. Morgan Stanley reaffirmed an "equal weight" rating and set a $230.00 price objective (down from $286.00) on shares of ResMed in a report on Wednesday, June 17th. Finally, Weiss Ratings lowered shares of ResMed from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $270.82.

Insider Buying and Selling at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total value of $450,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the business's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $193.96, for a total value of $968,054.36. Following the completion of the transaction, the chief executive officer directly owned 466,256 shares in the company, valued at $90,435,013.76. The trade was a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,973 shares of company stock worth $3,580,754 in the last 90 days. 0.65% of the stock is owned by corporate insiders.

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.

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