Wellington Management Group LLP Sells 50,968 Shares of ResMed Inc. (NYSE:RMD)

Wellington Management Group LLP lessened its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 85.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,958 shares of the medical equipment provider's stock after selling 50,968 shares during the period. Wellington Management Group LLP's holdings in ResMed were worth $2,049,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Invesco Ltd. raised its holdings in shares of ResMed by 32.2% during the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock valued at $531,706,000 after acquiring an additional 566,046 shares during the period. Norges Bank purchased a new position in ResMed during the 4th quarter worth approximately $118,605,000. Captrust Financial Advisors grew its position in ResMed by 813.4% during the 4th quarter. Captrust Financial Advisors now owns 443,340 shares of the medical equipment provider's stock worth $101,387,000 after purchasing an additional 394,803 shares in the last quarter. AQR Capital Management LLC raised its stake in ResMed by 133.6% during the 4th quarter. AQR Capital Management LLC now owns 625,054 shares of the medical equipment provider's stock valued at $142,944,000 after purchasing an additional 357,466 shares during the period. Finally, BLI Banque de Luxembourg Investments purchased a new stake in shares of ResMed in the fourth quarter valued at $74,793,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RMD. Morgan Stanley set a $286.00 price target on ResMed and gave the company an "overweight" rating in a report on Tuesday, May 20th. Royal Bank of Canada upped their target price on ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a report on Thursday, April 24th. Mizuho set a $265.00 price target on shares of ResMed in a report on Wednesday, April 16th. Stifel Nicolaus lowered their price objective on shares of ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. increased their target price on shares of ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $259.33.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $243.23, for a total value of $1,948,029.07. Following the completion of the sale, the chief executive officer now directly owns 455,503 shares in the company, valued at approximately $110,791,994.69. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Witte Jan De sold 2,000 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total transaction of $486,940.00. Following the sale, the director now directly owns 5,806 shares of the company's stock, valued at approximately $1,413,586.82. This represents a 25.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,123 shares of company stock worth $5,063,896. 0.71% of the stock is owned by corporate insiders.

ResMed Stock Down 0.5%

RMD stock traded down $1.18 during trading hours on Monday, hitting $251.02. The company's stock had a trading volume of 976,773 shares, compared to its average volume of 1,013,601. The stock has a 50 day moving average price of $232.85 and a two-hundred day moving average price of $234.54. ResMed Inc. has a 12 month low of $179.42 and a 12 month high of $263.05. The company has a market capitalization of $36.81 billion, a PE ratio of 29.64, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.01. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. ResMed's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.13 EPS. On average, equities research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.84%. ResMed's dividend payout ratio (DPR) is presently 23.79%.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.