Wellington Management Group LLP Purchases 15,772 Shares of ResMed Inc. (NYSE:RMD)

Wellington Management Group LLP grew its stake in ResMed Inc. (NYSE:RMD - Free Report) by 35.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,926 shares of the medical equipment provider's stock after purchasing an additional 15,772 shares during the period. Wellington Management Group LLP's holdings in ResMed were worth $14,629,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp grew its stake in ResMed by 51.4% during the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider's stock worth $1,105,022,000 after buying an additional 1,959,642 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of ResMed in the 2nd quarter worth approximately $77,285,000. Greenvale Capital LLP grew its position in ResMed by 61.1% during the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider's stock worth $138,780,000 after acquiring an additional 275,000 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in ResMed by 726.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider's stock valued at $69,281,000 after purchasing an additional 249,454 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its position in ResMed by 48.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider's stock valued at $141,694,000 after purchasing an additional 241,195 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wolfe Research restated an "underperform" rating and set a $180.00 target price on shares of ResMed in a report on Wednesday, September 18th. Royal Bank of Canada increased their price objective on shares of ResMed from $224.00 to $232.00 and gave the stock a "sector perform" rating in a report on Friday, October 25th. Robert W. Baird boosted their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Bank of America increased their price target on shares of ResMed from $240.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Finally, StockNews.com upgraded shares of ResMed from a "hold" rating to a "buy" rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, ResMed presently has a consensus rating of "Moderate Buy" and an average price target of $227.91.

ResMed Trading Down 1.6 %

NYSE:RMD traded down $3.99 during mid-day trading on Friday, hitting $238.52. The company had a trading volume of 580,589 shares, compared to its average volume of 661,581. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. ResMed Inc. has a fifty-two week low of $164.12 and a fifty-two week high of $260.49. The firm has a market cap of $35.01 billion, a P/E ratio of 31.59, a P/E/G ratio of 1.73 and a beta of 0.68. The business's fifty day moving average is $242.75 and its two-hundred day moving average is $227.59.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.17. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. ResMed's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the company posted $1.64 EPS. As a group, research analysts expect that ResMed Inc. will post 9.34 earnings per share for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Thursday, November 7th. ResMed's dividend payout ratio is currently 28.08%.

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $231.91, for a total transaction of $3,405,134.53. Following the completion of the sale, the chief executive officer now directly owns 464,169 shares of the company's stock, valued at approximately $107,645,432.79. This represents a 3.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the transaction, the director now directly owns 81,218 shares in the company, valued at approximately $19,951,201.70. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,725 shares of company stock worth $11,253,448 in the last quarter. Corporate insiders own 0.71% of the company's stock.

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.