RE:buy outWith a market cap at less than 1% of Resmeds Market cap or less than 10% of AHCO's market cap or many other companies, it is possible for a buy out. VMD is even sitting on a small nest egg of cash.
While management might resist a buy out, I can see many of the institutions voting in favour of a buyout.
The best way for management to prevent this is to increase the P/E multiple. That would require a return to meaningful growth of the top and bottom lines, resolving the OIG uncertainty, making productive use of the cash, do more proactive investor relations and, of course, resisting the narcotic temptation of excessive incentive compensation including the phantom shares, incentive options, RSUs and other schemes that reduce profits.