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 Intel (NASDAQ:INTC) 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 ServiceNow (NYSE:NOW) on 2/3/2025.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 1/30/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/30/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) 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 NVIDIA (NASDAQ:NVDA) on 1/29/2025.

ResMed Price Performance

Shares of NYSE:RMD traded down $6.55 during trading on Friday, reaching $232.93. The company had a trading volume of 1,025,931 shares, compared to its average volume of 1,059,213. The company has a fifty day moving average of $238.51 and a two-hundred day moving average of $238.47. The stock has a market capitalization of $34.21 billion, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 1.57 and a beta of 0.70. ResMed Inc. has a 12 month low of $170.56 and a 12 month high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

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

ResMed Dividend Announcement

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

Insider Activity at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the transaction, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. 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 is accessible through this link. Also, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the transaction, the insider now directly owns 21,718 shares of the company’s stock, valued at $5,279,428.62. This trade represents a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,307 shares of company stock valued at $4,403,180 in the last three months. Company insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. The Goldman Sachs Group initiated coverage on shares of ResMed in a report on Thursday, January 16th. They set a “buy” rating on the stock. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Stifel Nicolaus initiated coverage on shares of ResMed in a report on Friday, December 13th. They set a “hold” rating and a $250.00 target price on the stock. Finally, Robert W. Baird increased their target price on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $244.73.

Institutional Investors Weigh In On ResMed

Several institutional investors and hedge funds have recently modified their holdings of RMD. Exchange Traded Concepts LLC purchased a new stake in shares of ResMed in the 3rd quarter worth about $119,000. Creative Planning lifted its position in ResMed by 15.4% during the 3rd quarter. Creative Planning now owns 28,021 shares of the medical equipment provider’s stock valued at $6,840,000 after acquiring an additional 3,739 shares during the period. Vontobel Holding Ltd. lifted its position in ResMed by 8.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 3,662 shares of the medical equipment provider’s stock valued at $894,000 after acquiring an additional 288 shares during the period. Indiana Trust & Investment Management Co purchased a new position in ResMed during the 3rd quarter valued at about $98,000. Finally, Hengehold Capital Management LLC purchased a new position in ResMed during the 3rd quarter valued at about $213,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

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.