Rep. Kelly Morrison Sells Off Shares of ResMed Inc. (NYSE:RMD)

Representative Kelly Morrison (D-Minnesota) recently sold shares of ResMed Inc. NYSE: RMD. In a filing disclosed on May 13th, the Representative disclosed that they had sold between $1,001 and $15,000 in ResMed stock on April 28th. The trade occurred in the Representative's "TRUST 1" account.

Representative Kelly Morrison also recently made the following trade(s):

• Purchased $15,001 - $50,000 in shares of Meta Platforms NASDAQ: META on 4/11/2025.
• Purchased $1,001 - $15,000 in shares of Broadcom NASDAQ: AVGO on 4/11/2025.
• Purchased $15,001 - $50,000 in shares of Broadcom NASDAQ: AVGO on 4/11/2025.
• Purchased $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 4/11/2025.
• Sold $15,001 - $50,000 in shares of Ashtead Group OTCMKTS: ASHTY on 4/10/2025.
• Sold $1,001 - $15,000 in shares of Ashtead Group OTCMKTS: ASHTY on 4/10/2025.
• Purchased $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 3/24/2025.
• Purchased $15,001 - $50,000 in shares of Meta Platforms NASDAQ: META on 3/24/2025.
• Purchased $1,001 - $15,000 in shares of Broadcom NASDAQ: AVGO on 3/21/2025.
• Sold $100,001 - $250,000 in shares of Target NYSE: TGT on 3/21/2025.

ResMed Stock Performance

Shares of RMD stock traded down $5.19 during mid-day trading on Tuesday, reaching $248.16. The stock had a trading volume of 1,431,462 shares, compared to its average volume of 1,021,538. The business's fifty day moving average is $226.57 and its 200-day moving average is $234.27. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The firm has a market cap of $36.39 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 1.53 and a beta of 0.78. ResMed Inc. has a 1-year low of $179.42 and a 1-year high of $263.05.

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

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Thursday, May 8th. ResMed's dividend payout ratio (DPR) is presently 23.79%.

Hedge Funds Weigh In On ResMed

Several hedge funds and other institutional investors have recently made changes to their positions in RMD. GAMMA Investing LLC lifted its position in shares of ResMed by 23,982.6% in the first quarter. GAMMA Investing LLC now owns 733,556 shares of the medical equipment provider's stock valued at $164,207,000 after acquiring an additional 730,510 shares in the last quarter. Invesco Ltd. lifted its position in shares of ResMed by 32.2% in 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 in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of ResMed by 1,168.5% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 590,895 shares of the medical equipment provider's stock valued at $132,272,000 after acquiring an additional 544,311 shares in the last quarter. Norges Bank purchased a new position in shares of ResMed in the fourth quarter valued at approximately $118,605,000. Finally, Captrust Financial Advisors lifted its position in shares of ResMed by 813.4% in the fourth quarter. Captrust Financial Advisors now owns 443,340 shares of the medical equipment provider's stock valued at $101,387,000 after acquiring an additional 394,803 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $242.25, for a total transaction of $484,500.00. Following the transaction, the director now owns 71,218 shares in the company, valued at approximately $17,252,560.50. This trade represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on Friday, March 7th. The shares were sold at an average price of $229.20, for a total value of $1,835,662.80. Following the completion of the sale, the chief executive officer now owns 455,472 shares in the company, valued at $104,394,182.40. This represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,949 shares of company stock worth $11,335,320. 0.71% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on RMD shares. Piper Sandler dropped their target price on ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. UBS Group dropped their target price on ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. StockNews.com raised ResMed from a "hold" rating to a "buy" rating in a report on Friday, May 2nd. Royal Bank of Canada raised their price objective on ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a report on Thursday, April 24th. Finally, Citigroup raised ResMed from a "neutral" rating to a "buy" rating in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, ResMed has a consensus rating of "Moderate Buy" and an average target price of $258.83.

About Representative Morrison

Kelly Morrison (Democratic Party) is a member of the U.S. House, representing Minnesota's 3rd Congressional District. She assumed office on January 3, 2025. Her current term ends on January 3, 2027. Morrison (Democratic Party) is running for re-election to the U.S. House to represent Minnesota's 3rd Congressional District. She declared candidacy for the 2026 election. Kelly Morrison was born in Minneapolis, Minnesota, and lives in Deephaven. Morrison earned a B.A. in history from Yale University and an M.D. from Case Western Reserve University. She completed her residency in obstetrics and gynecology at Northwestern University. Morrison's career experience includes working as a physician.

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.