Banque Cantonale Vaudoise Invests $1.73 Million in ResMed Inc. $RMD

Banque Cantonale Vaudoise purchased a new stake in shares of ResMed Inc. (NYSE:RMD) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,693 shares of the medical equipment provider’s stock, valued at approximately $1,726,000.

Several other institutional investors have also recently bought and sold shares of the stock. Terra Nova Asset Management LLC boosted its position in ResMed by 0.6% in the 3rd quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock valued at $2,136,000 after buying an additional 46 shares during the last quarter. Occidental Asset Management LLC boosted its holdings in ResMed by 3.0% in the fourth quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider’s stock valued at $409,000 after acquiring an additional 49 shares during the last quarter. Kera Capital Partners Inc. increased its position in ResMed by 6.6% in the fourth quarter. Kera Capital Partners Inc. now owns 841 shares of the medical equipment provider’s stock worth $217,000 after purchasing an additional 52 shares during the period. Andina Capital Management LLC increased its position in ResMed by 2.9% in the fourth quarter. Andina Capital Management LLC now owns 1,988 shares of the medical equipment provider’s stock worth $479,000 after purchasing an additional 56 shares during the period. Finally, Wedmont Private Capital raised its holdings in ResMed by 2.7% during the 4th quarter. Wedmont Private Capital now owns 2,183 shares of the medical equipment provider’s stock worth $542,000 after purchasing an additional 57 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Weiss Ratings downgraded shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. Royal Bank Of Canada lifted their price target on shares of ResMed from $314.00 to $321.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Morgan Stanley restated an “equal weight” rating and issued a $230.00 price objective (down from $286.00) on shares of ResMed in a report on Wednesday, June 17th. Evercore set a $255.00 price objective on shares of ResMed and gave the company an “outperform” rating in a report on Monday, April 13th. Finally, Wells Fargo & Company lowered their target price on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $270.82.

ResMed Price Performance

RMD opened at $200.49 on Friday. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81. The company has a fifty day simple moving average of $203.31 and a 200 day simple moving average of $231.18. The stock has a market cap of $29.08 billion, a P/E ratio of 19.33, a P/E/G ratio of 1.27 and a beta of 0.80.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the company posted $2.37 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, research analysts expect that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th were given 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 currently 23.14%.

Insider Activity

In other news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $193.96, for a total transaction of $968,054.36. Following the transaction, the chief executive officer owned 466,256 shares in the company, valued at $90,435,013.76. The trade was a 1.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the 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 SEC filing for this sale provides additional information. Insiders have sold a total of 16,973 shares of company stock worth $3,580,754 in the last quarter. 0.65% of the stock is currently owned by company 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.