ResMed shares slide 4.4% as investors weigh Q3 results, unchanged outlook, and CFO transition

ResMed (RMD) is down 4.4% today. Here is some analysis on what might have caused this price movement.

Analysis: The drop looks like a “sell-the-news” reaction after ResMed posted strong fiscal Q3 results, while reiterating (not raising) its fiscal 2026 outlook ranges. The same-day announcement that long-time CFO Brett Sandercock will retire imminently may have added a short-term uncertainty premium, even though a successor was named.

Details:

ResMed reported fiscal Q3 (quarter ended March 31, 2026) revenue of about $1.43 billion, up 11% year over year (8% in constant currency), alongside non-GAAP EPS of $2.86.

Margins improved meaningfully in the quarter, with non-GAAP gross margin reported at 62.8% and operating cash flow of $554 million; the company also returned capital via dividends and share repurchases during the period.

In conjunction with earnings, ResMed reiterated key fiscal 2026 outlook ranges (including gross margin of 62–63% and SG&A of 19–20%), which may have disappointed investors looking for upward revisions after the beat.

ResMed separately announced that CFO Brett Sandercock will retire effective May 4, 2026, with Aaron Bloomer appointed as successor; Sandercock is expected to remain an advisor through calendar year 2027.

Sources:

ResMed Investor Relations, Reuters

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$RMD Insider Trading Activity

$RMD insiders have traded $RMD stock on the open market 22 times in the past 6 months. Of those trades, 0 have been purchases and 22 have been sales.

Here’s a breakdown of recent trading of $RMD stock by insiders over the last 6 months:

MICHAEL J. FARRELL (Chairman and CEO) has made 0 purchases and 6 sales selling 32,966 shares for an estimated $8,240,458.
PETER C FARRELL has made 0 purchases and 6 sales selling 12,000 shares for an estimated $2,977,760.
BRETT SANDERCOCK (Chief Financial Officer) has made 0 purchases and 5 sales selling 7,000 shares for an estimated $1,709,870.
WITTE JAN DE has made 0 purchases and 2 sales selling 2,542 shares for an estimated $645,896.
MICHAEL J RIDER (Global General Counsel) has made 0 purchases and 3 sales selling 150 shares for an estimated $37,295.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API.

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$RMD Hedge Fund Activity

We have seen 419 institutional investors add shares of $RMD stock to their portfolio, and 448 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 2,790,548 shares (-76.9%) from their portfolio in Q4 2025, for an estimated $672,159,296
FIRST TRUST ADVISORS LP added 1,072,394 shares (+240.9%) to their portfolio in Q4 2025, for an estimated $258,307,542
DEUTSCHE BANK AG\ added 787,949 shares (+126.0%) to their portfolio in Q4 2025, for an estimated $189,793,275
MORGAN STANLEY added 578,559 shares (+25.0%) to their portfolio in Q4 2025, for an estimated $139,357,506
FMR LLC removed 464,493 shares (-52.8%) from their portfolio in Q4 2025, for an estimated $111,882,428
ROYAL BANK OF CANADA removed 420,468 shares (-59.5%) from their portfolio in Q4 2025, for an estimated $101,278,127
DIAMANT ASSET MANAGEMENT, INC. added 402,164 shares (+21166.5%) to their portfolio in Q1 2026, for an estimated $90,277,774

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API.

$RMD Analyst Ratings

Wall Street analysts have issued reports on $RMD in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

JP Morgan issued a "Overweight" rating on 04/15/2026

To track analyst ratings and price targets for $RMD, check out Quiver Quantitative's $RMD forecast page.

$RMD Price Targets

Multiple analysts have issued price targets for $RMD recently. We have seen 7 analysts offer price targets for $RMD in the last 6 months, with a median target of $275.0.

Here are some recent targets:

Nathan Treybeck from Wells Fargo set a target price of $227.0 on 05/01/2026
Brett Fishbin from Keybanc set a target price of $290.0 on 04/27/2026
Laura Sutcliffe from Citigroup set a target price of $340.0 on 04/09/2026
Adam Maeder from Piper Sandler set a target price of $275.0 on 01/30/2026
Jonathan Block from Stifel set a target price of $265.0 on 01/30/2026
Craig Wong-Pan from RBC Capital set a target price of $314.0 on 01/30/2026
Joe Vruwink from Baird set a target price of $275.0 on 12/16/2025

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.