ResMed Inc. (NYSE:RMD) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its holdings in ResMed Inc. (NYSE:RMD) by 85.1% during the 4th quarter, according to the company in its most recent 13F 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 quarter. Wellington Management Group LLP’s holdings in ResMed were worth $2,049,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in ResMed by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider’s stock worth $4,156,089,000 after buying an additional 160,590 shares during the period. Geode Capital Management LLC increased its holdings in ResMed by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider’s stock worth $899,860,000 after buying an additional 85,270 shares during the period. Invesco Ltd. increased its holdings in ResMed by 32.2% in the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider’s stock worth $531,706,000 after buying an additional 566,046 shares during the period. Northern Trust Corp increased its holdings in ResMed by 20.6% in the 4th quarter. Northern Trust Corp now owns 1,702,590 shares of the medical equipment provider’s stock worth $389,365,000 after buying an additional 290,664 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in ResMed by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider’s stock worth $218,861,000 after buying an additional 32,973 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Buying and Selling at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $219.74, for a total value of $439,480.00. Following the transaction, the director now directly owns 73,218 shares of the company’s stock, valued at approximately $16,088,923.32. This trade represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Kaushik Ghoshal sold 9,745 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the completion of the transaction, the insider now directly owns 9,725 shares in the company, valued at approximately $2,327,289.75. This represents a 50.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,868 shares of company stock valued at $7,395,972 over the last ninety days. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RMD. Stifel Nicolaus cut their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. Wall Street Zen lowered ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. UBS Group lowered their price objective on ResMed from $290.00 to $285.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, Mizuho set a $265.00 price objective on ResMed in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.33.

ResMed Stock Performance

RMD opened at $249.70 on Friday. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The company has a market cap of $36.61 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 1.53 and a beta of 0.78. ResMed Inc. has a 52-week low of $179.42 and a 52-week high of $263.05. The firm’s fifty day simple moving average is $232.25 and its two-hundred day simple moving average is $234.55.

ResMed (NYSE:RMD) last posted 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 for the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same period last year, the firm posted $2.13 earnings per share. Equities analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.85%. The ex-dividend date is Thursday, May 8th. ResMed’s payout ratio is 23.79%.

ResMed Company Profile

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.