RESMED INC
RMD, RSMDF · Surgical & Medical Instruments & Apparatus · 145.1M shares · +1%/yr ↑ shares · EDGAR filings ↗
Reference price $193.96 · est. market cap ~$28.1B — last insider sale, 2026-06-08 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
A88Sleep/respiratory-device leader with elite margins, strong FCF, and a debt-light balance sheet.
Strengths
- Elite margins/returns — operating margin 33% (100th), net margin 27% (98th), ROA 17% (96th)
- Strong FCF — FCF $1.7B (98th), FCF margin 32%
- Debt-light — D/E 0.1
Risks
- GLP-1/sleep-apnea-treatment-shift debate — per 10-K
- Device-recall/competitive risk — per 10-K
- Premium valuation — per 10-K
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, RENAISSANCE TECHNOLOGIES LLC
- Strong balance sheetStrong balance sheet — $1.2B cash & investments
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, CITADEL ADVISORS LLC +2 more (as of 2026-03-31)
- Insider sellingInsider selling — 16 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$10M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
59.4%
Operating margin
32.7%
Net margin
27.2%
Return on equity
23.5%
Return on assets
17.1%
ROIC
20.1%
Revenue growth (QoQ)
0.6%
Net-income growth
37.2%
Debt / equity
0.1×
Net debt / EBITDA
-0.3×
Current ratio
3.4×
Free cash flow
$1.7B
EBITDA
$1.9B
Tangible book value
$2.5B
Cash & investments
$1.2B
Stock comp / revenue
1.8%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-08 | Farrell Michael J. | Option exercise | 5.0K | $146.34 |
| 2026-06-08 | Farrell Michael J. | Sell | 5.0K | $193.96 |
| 2026-06-01 | Rider Michael J | Tax withheld | 269 | $190.57 |
| 2026-05-07 | Farrell Michael J. | Sell | 5.0K | $207.82 |
| 2026-05-07 | Farrell Michael J. | Option exercise | 5.0K | $146.34 |
| 2026-04-07 | Farrell Michael J. | Sell | 5.0K | $225.50 |
| 2026-04-07 | Farrell Michael J. | Option exercise | 5.0K | $146.34 |
| 2026-04-01 | Sandercock Brett | Sell | 1.0K | $224.31 |
| 2026-04-01 | FARRELL PETER C | Sell | 2.0K | $225.00 |
| 2026-03-09 | Farrell Michael J. | Sell | 5.0K | $251.03 |
| 2026-03-09 | Farrell Michael J. | Option exercise | 5.0K | $146.34 |
| 2026-03-04 | FARRELL PETER C | Sell | 2.0K | $260.22 |
| 2026-03-02 | Sandercock Brett | Sell | 1.0K | $254.30 |
| 2026-02-09 | Farrell Michael J. | Sell | 5.0K | $273.78 |
| 2026-02-09 | Farrell Michael J. | Option exercise | 5.0K | $146.34 |
| 2026-02-04 | FARRELL PETER C | Sell | 2.0K | $251.31 |
| 2026-02-04 | Rider Michael J | Sell | 50 | $260.00 |
| 2026-02-02 | Sandercock Brett | Sell | 1.0K | $257.03 |
| 2026-01-07 | FARRELL PETER C | Sell | 2.0K | $248.83 |
| 2026-01-07 | Farrell Michael J. | Option exercise | 5.0K | $146.34 |
| 2026-01-07 | Farrell Michael J. | Sell | 5.0K | $248.46 |
| 2026-01-02 | Sandercock Brett | Sell | 1.0K | $241.75 |
| 2026-01-02 | Rider Michael J | Sell | 50 | $241.75 |
| 2025-12-08 | Farrell Michael J. | Option exercise | 5.0K | $146.34 |
| 2025-12-08 | Farrell Michael J. | Sell | 5.0K | $251.41 |
| 2025-12-03 | FARRELL PETER C | Sell | 2.0K | $251.47 |
| 2025-12-01 | Rider Michael J | Sell | 50 | $244.16 |
| 2025-12-01 | Sandercock Brett | Sell | 1.0K | $244.16 |
| 2025-11-25 | De Witte Jan | Sell | 2.1K | $255.00 |
| 2025-11-20 | DelOrefice Christopher | Grant | 1.1K | — |
| 2025-11-20 | Leong Justin | Grant | 1.8K | — |
| 2025-11-20 | Hernandez John | Grant | 1.1K | — |
| 2025-11-20 | Mowad-Nassar Nicole | Grant | 536 | — |
| 2025-11-20 | Tan Desney | Grant | 1.1K | — |
| 2025-11-20 | Gill Harjit | Grant | 1.1K | — |
| 2025-11-20 | Drexler Karen | Grant | 1.1K | — |
| 2025-11-20 | Burt Carol | Grant | 1.1K | — |
| 2025-11-20 | TAYLOR RONALD R | Grant | 1.1K | — |
| 2025-11-20 | Sandercock Brett | Grant | 2.7K | — |
| 2025-11-20 | Farrell Michael J. | Grant | 14K | — |
| 2025-11-20 | Farrell Michael J. | Tax withheld | 7.3K | — |
| 2025-11-20 | De Witte Jan | Grant | 1.1K | — |
| 2025-11-20 | FARRELL PETER C | Grant | 536 | — |
| 2025-11-14 | FARRELL PETER C | Tax withheld | 7.3K | $244.46 |
| 2025-11-14 | FARRELL PETER C | Option exercise | 11K | $101.64 |
| 2025-11-12 | FARRELL PETER C | Sell | 2.0K | $252.05 |
| 2025-11-11 | Farrell Michael J. | Tax withheld | 2.2K | $250.10 |
| 2025-11-11 | Farrell Michael J. | Tax withheld | 3.5K | $250.10 |
| 2025-11-11 | Farrell Michael J. | Tax withheld | 2.2K | $250.10 |
| 2025-11-11 | De Witte Jan | Sell | 487 | $250.25 |
| 2025-11-11 | De Witte Jan | Tax withheld | 76 | $250.10 |
| 2025-11-11 | Rider Michael J | Tax withheld | 174 | $250.10 |
| 2025-11-11 | Rider Michael J | Tax withheld | 715 | $250.10 |
| 2025-11-11 | Rider Michael J | Tax withheld | 501 | $250.10 |
| 2025-11-11 | Rider Michael J | Tax withheld | 135 | $250.10 |
| 2025-11-11 | Gill Harjit | Tax withheld | 38 | $250.10 |
| 2025-11-11 | FARRELL PETER C | Tax withheld | 163 | $250.10 |
| 2025-11-07 | Farrell Michael J. | Option exercise | 983 | $101.64 |
| 2025-11-07 | Farrell Michael J. | Option exercise | 7.0K | $101.64 |
| 2025-11-07 | Farrell Michael J. | Sell | 8.0K | $249.75 |
| 2025-11-03 | Sandercock Brett | Option exercise | 2.0K | $101.64 |
| 2025-11-03 | Sandercock Brett | Sell | 3.0K | $247.54 |
| 2025-10-07 | Farrell Michael J. | Option exercise | 8.0K | $101.64 |
| 2025-10-07 | Farrell Michael J. | Sell | 8.0K | $282.85 |
| 2025-10-01 | Rider Michael J | Sell | 100 | $274.36 |
| 2025-10-01 | Sandercock Brett | Option exercise | 2.0K | $101.64 |
| 2025-10-01 | Sandercock Brett | Sell | 3.0K | $274.36 |
| 2025-09-08 | Farrell Michael J. | Option exercise | 8.0K | $101.64 |
| 2025-09-08 | Farrell Michael J. | Sell | 8.0K | $278.14 |
| 2025-09-02 | Mowad-Nassar Nicole | Grant | 241 | — |
| 2025-09-02 | Sandercock Brett | Option exercise | 2.0K | $101.64 |
| 2025-09-02 | Sandercock Brett | Sell | 3.0K | $270.77 |
| 2025-08-18 | Hernandez John | Option exercise | 2.6K | $148.90 |
| 2025-08-18 | Hernandez John | Sell | 2.6K | $287.10 |
| 2025-08-15 | Rider Michael J | Grant | 2.9K | — |
| 2025-08-15 | Leong Justin | Grant | 5.5K | — |
| 2025-08-15 | Sandercock Brett | Grant | 5.5K | — |
| 2025-08-15 | Farrell Michael J. | Grant | 12K | — |
| 2025-08-07 | Farrell Michael J. | Option exercise | 8.0K | $101.64 |
| 2025-08-07 | Farrell Michael J. | Sell | 8.0K | $279.48 |
| 2025-08-01 | Sandercock Brett | Option exercise | 2.0K | $101.64 |
| 2025-08-01 | Sandercock Brett | Sell | 3.0K | $281.90 |
| 2025-08-01 | Rider Michael J | Sell | 50 | $281.90 |
| 2025-07-07 | Farrell Michael J. | Option exercise | 8.0K | $101.64 |
| 2025-07-07 | Farrell Michael J. | Sell | 8.0K | $256.72 |
| 2025-07-02 | FARRELL PETER C | Sell | 945 | $255.49 |
| 2025-07-01 | Sandercock Brett | Option exercise | 2.0K | $101.64 |
| 2025-07-01 | Sandercock Brett | Option exercise | 917 | $101.64 |
| 2025-07-01 | Sandercock Brett | Sell | 3.9K | $256.99 |
| 2025-07-01 | Rider Michael J | Sell | 66 | $256.99 |
| 2025-06-09 | Farrell Michael J. | Option exercise | 8.0K | $101.64 |
| 2025-06-09 | Farrell Michael J. | Sell | 8.0K | $251.21 |
| 2025-06-04 | FARRELL PETER C | Sell | 2.0K | $247.32 |
| 2025-06-02 | Rider Michael J | Sell | 41 | $243.78 |
| 2025-06-02 | Rider Michael J | Tax withheld | 267 | $244.79 |
| 2025-06-02 | Sandercock Brett | Sell | 1.0K | $243.78 |
| 2025-05-22 | Sandercock Brett | Sell | 3.6K | $244.59 |
| 2025-05-20 | De Witte Jan | Sell | 2.0K | $243.47 |
| 2025-05-07 | Farrell Michael J. | Option exercise | 8.0K | $101.64 |
| 2025-05-07 | Farrell Michael J. | Sell | 8.0K | $243.23 |
| 2025-05-07 | FARRELL PETER C | Sell | 2.0K | $242.25 |
| 2025-04-08 | Sandercock Brett | Sell | 1.0K | $215.58 |
| 2025-04-07 | Farrell Michael J. | Option exercise | 8.0K | $101.64 |
| 2025-04-07 | Farrell Michael J. | Sell | 8.0K | $209.85 |
| 2025-04-02 | FARRELL PETER C | Sell | 2.0K | $219.74 |
| 2025-04-01 | Rider Michael J | Sell | 64 | $222.86 |
| 2025-03-10 | Sandercock Brett | Sell | 1.0K | $230.36 |
| 2025-03-10 | Ghoshal Kaushik | Option exercise | 169 | $146.34 |
| 2025-03-10 | Ghoshal Kaushik | Option exercise | 105 | $211.76 |
| 2025-03-10 | Ghoshal Kaushik | Option exercise | 3.6K | $146.34 |
| 2025-03-10 | Ghoshal Kaushik | Option exercise | 5.9K | $211.76 |
| 2025-03-10 | Ghoshal Kaushik | Sell | 9.7K | $239.31 |
| 2025-03-07 | Farrell Michael J. | Option exercise | 8.0K | $101.64 |
| 2025-03-07 | Farrell Michael J. | Sell | 8.0K | $229.20 |
| 2025-03-05 | FARRELL PETER C | Sell | 2.0K | $227.71 |
| 2025-03-03 | Ghoshal Kaushik | Option exercise | 367 | $211.76 |
| 2025-03-03 | Ghoshal Kaushik | Option exercise | 3.5K | $146.34 |
| 2025-03-03 | Ghoshal Kaushik | Option exercise | 514 | $146.34 |
| 2025-03-03 | Ghoshal Kaushik | Option exercise | 4.7K | $211.76 |
| 2025-03-03 | Ghoshal Kaushik | Sell | 367 | $235.25 |
| 2025-03-03 | Ghoshal Kaushik | Sell | 3.5K | $235.40 |
| 2025-03-03 | Ghoshal Kaushik | Sell | 514 | $235.25 |
| 2025-03-03 | Ghoshal Kaushik | Sell | 4.7K | $235.43 |
| 2025-03-03 | Rider Michael J | Sell | 64 | $234.10 |
| 2025-02-10 | Sandercock Brett | Sell | 1.0K | $238.98 |
| 2025-02-07 | Farrell Michael J. | Option exercise | 8.0K | $101.64 |
| 2025-02-07 | Farrell Michael J. | Sell | 8.0K | $236.77 |
| 2025-02-05 | FARRELL PETER C | Sell | 2.0K | $242.11 |
| 2025-02-03 | Rider Michael J | Sell | 64 | $242.42 |
| 2025-01-08 | Sandercock Brett | Sell | 1.0K | $234.04 |
| 2025-01-02 | FARRELL PETER C | Sell | 2.0K | $230.99 |
| 2025-01-02 | Rider Michael J | Sell | 75 | $230.99 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT03513068 ↗ | Portable Oxygen Concentrator Improvements to Physical Activity, Oxygen Usage, and Quality of Life in Chronic Obstructive Pulmonary Disease Patients Using Long-term Oxygen Therapy (POC-STEP) COPD | NA | Terminated | 2020-09-02 |
| NCT03851094 ↗ | Evaluation of an Incentive-based Intervention to Improve 90-day Adherence in PAP-Naive Patients Obstructive Sleep Apnea | NA | Completed | 2020-05-18 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-04-30 | ResultsOtherExhibits | filing ↗ |
| 2026-04-30 | Exec/director changeExhibits | filing ↗ |
| 2026-01-29 | ResultsOtherExhibits | filing ↗ |
| 2025-11-20 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2025-10-30 | ResultsOtherExhibits | filing ↗ |
| 2025-08-18 | Exec/director changeExhibits | filing ↗ |
| 2025-08-01 | Exec/director change | filing ↗ |
| 2025-07-31 | ResultsOtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-Q | 2026-05-01 | 2026-03-31 | 0000943819-26-000025 ↗ |
| 8-K | 2026-04-30 | 2026-04-24 | 0001193125-26-197282 ↗ |
| 8-K | 2026-04-30 | 2026-04-30 | 0001193125-26-197192 ↗ |
| 10-Q | 2026-01-30 | 2025-12-31 | 0000943819-26-000007 ↗ |
| 8-K | 2026-01-29 | 2026-01-29 | 0001193125-26-029326 ↗ |
| 8-K | 2025-11-20 | 2025-11-19 | 0001193125-25-289878 ↗ |
| 10-Q | 2025-10-31 | 2025-09-30 | 0000943819-25-000090 ↗ |
| 8-K | 2025-10-30 | 2025-10-30 | 0001193125-25-258519 ↗ |
| 8-K | 2025-08-18 | 2025-08-15 | 0001193125-25-182695 ↗ |
| 10-K | 2025-08-08 | 2025-06-30 | 0000943819-25-000035 ↗ |
| 8-K | 2025-08-01 | 2025-07-28 | 0001193125-25-170718 ↗ |
| 8-K | 2025-07-31 | 2025-07-31 | 0001193125-25-170512 ↗ |