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ResMed (RMD) Stock Trades Down, Here Is Why
Shares of medical device company ResMed (RMD) fell 2.6% after its Chairman and CEO, Michael J. Farrell, sold $1.25 million worth of shares. This insider selling, even if pre-arranged, raised investor concerns, while analysts at Baird also lowered their price target for the stock to $272 from $281, maintaining a Neutral rating. Despite its low volatility, the market sees this news as significant.