Rep. Robert Bresnahan, Jr. Sells Off Shares of ResMed Inc. (NYSE:RMD)

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of ResMed Inc. (NYSE:RMD). In a filing disclosed on February 13th, the Representative disclosed that they had sold between $1,001 and $15,000 in ResMed stock on January 13th. The trade occurred in the Representative’s “JOINT OWNERSHIP LPL ACCOUNT” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of Lowe’s Companies (NYSE:LOW) on 2/7/2025.
• Purchased $1,001 – $15,000 in shares of ServiceNow (NYSE:NOW) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Take-Two Interactive Software (NASDAQ:TTWO) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/30/2025.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 1/30/2025.
• Sold $1,001 – $15,000 in shares of Robinhood Markets (NASDAQ:HOOD) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Manhattan Associates (NASDAQ:MANH) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 1/29/2025.

ResMed Trading Down 2.7 %

Shares of RMD opened at $232.93 on Friday. ResMed Inc. has a fifty-two week low of $170.56 and a fifty-two week high of $263.05. The stock has a market capitalization of $34.21 billion, a PE ratio of 27.50, a P/E/G ratio of 1.57 and a beta of 0.70. The company’s fifty day moving average is $238.51 and its 200 day moving average is $238.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Sell-side analysts expect that ResMed Inc. will post 9.44 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.91%. ResMed’s dividend payout ratio is currently 25.03%.

Hedge Funds Weigh In On ResMed

A number of hedge funds and other institutional investors have recently modified their holdings of RMD. Peak Financial Advisors LLC bought a new stake in ResMed during the 4th quarter valued at $2,972,000. Principal Financial Group Inc. boosted its position in ResMed by 2.9% during the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after purchasing an additional 5,284 shares in the last quarter. Spire Wealth Management grew its stake in ResMed by 11.3% in the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock valued at $2,470,000 after purchasing an additional 1,100 shares during the last quarter. Retireful LLC purchased a new stake in shares of ResMed during the third quarter valued at about $742,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of ResMed by 38.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,830 shares of the medical equipment provider’s stock valued at $2,989,000 after buying an additional 3,576 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total value of $491,300.00. Following the completion of the sale, the director now owns 81,218 shares of the company’s stock, valued at approximately $19,951,201.70. This trade represents a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the transaction, the chief executive officer now owns 455,472 shares in the company, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,307 shares of company stock worth $4,403,180. Corporate insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Robert W. Baird increased their price objective on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. The Goldman Sachs Group started coverage on ResMed in a report on Thursday, January 16th. They issued a “buy” rating on the stock. Stifel Nicolaus assumed coverage on ResMed in a report on Friday, December 13th. They set a “hold” rating and a $250.00 price objective for the company. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Piper Sandler boosted their target price on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and a consensus price target of $244.73.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.