Analysts forecast that ResMed Inc. (NYSE:RMD) will report sales of $701.70 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for ResMed’s earnings. The lowest sales estimate is $698.10 million and the highest is $708.00 million. ResMed reported sales of $623.63 million in the same quarter last year, which indicates a positive year over year growth rate of 12.5%. The company is expected to issue its next quarterly earnings report after the market closes on Thursday, July 25th.
According to Zacks, analysts expect that ResMed will report full-year sales of $2.60 billion for the current fiscal year, with estimates ranging from $2.59 billion to $2.62 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $2.86 billion, with estimates ranging from $2.79 billion to $2.92 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for ResMed.
ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. ResMed had a return on equity of 26.46% and a net margin of 17.65%. The business had revenue of $662.23 million during the quarter, compared to the consensus estimate of $657.82 million. During the same quarter in the prior year, the company earned $0.92 earnings per share. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year.
RMD has been the subject of several analyst reports. Zacks Investment Research upgraded Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Monday, July 8th. ValuEngine downgraded Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. set a €8.75 ($10.17) price target on Commerzbank and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, UBS Group downgraded ResMed from a “buy” rating to a “neutral” rating in a report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $116.25.
In other ResMed news, CFO Brett Sandercock sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $102.98, for a total value of $308,940.00. Following the transaction, the chief financial officer now directly owns 82,390 shares of the company’s stock, valued at $8,484,522.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John P. Wareham sold 44,342 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $113.86, for a total value of $5,048,780.12. Following the completion of the transaction, the director now directly owns 24,085 shares in the company, valued at $2,742,318.10. The disclosure for this sale can be found here. Insiders sold a total of 102,061 shares of company stock valued at $11,769,200 over the last quarter. 1.24% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in RMD. Farmers & Merchants Investments Inc. boosted its position in ResMed by 49.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 295 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 97 shares during the last quarter. Executive Wealth Management LLC purchased a new position in ResMed in the 4th quarter worth approximately $35,000. Pinnacle Bank purchased a new position in ResMed in the 4th quarter worth approximately $42,000. RPg Family Wealth Advisory LLC purchased a new position in ResMed in the 1st quarter worth approximately $50,000. Finally, Financial Gravity Wealth Inc. purchased a new position in ResMed in the 1st quarter worth approximately $51,000. 67.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:RMD traded up $0.19 on Thursday, hitting $123.83. 400,400 shares of the company traded hands, compared to its average volume of 847,683. ResMed has a 52 week low of $90.64 and a 52 week high of $125.79. The company has a current ratio of 2.38, a quick ratio of 1.69 and a debt-to-equity ratio of 0.65. The business has a 50 day moving average price of $121.35. The company has a market capitalization of $17.70 billion, a P/E ratio of 35.08, a PEG ratio of 2.97 and a beta of 0.46.
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.
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