Wall Street analysts expect ResMed Inc. (NYSE:RMD) to post earnings of $0.87 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for ResMed’s earnings, with the lowest EPS estimate coming in at $0.76 and the highest estimate coming in at $0.98. ResMed posted earnings of $0.81 per share in the same quarter last year, which suggests a positive year over year growth rate of 7.4%. The company is scheduled to announce its next quarterly earnings results after the market closes on Thursday, October 24th.
According to Zacks, analysts expect that ResMed will report full year earnings of $3.92 per share for the current year, with EPS estimates ranging from $3.67 to $4.22. For the next financial year, analysts expect that the business will report earnings of $4.29 per share, with EPS estimates ranging from $3.98 to $4.49. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that follow ResMed.
ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, July 25th. The medical equipment provider reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.03. ResMed had a net margin of 15.52% and a return on equity of 26.49%. The firm had revenue of $705.00 million during the quarter, compared to the consensus estimate of $701.56 million. During the same period in the prior year, the firm earned $0.95 EPS. The business’s revenue was up 13.1% on a year-over-year basis.
RMD has been the subject of a number of research reports. UBS Group raised shares of ResMed from a “neutral” rating to a “buy” rating and increased their price target for the company from $122.00 to $140.00 in a report on Monday, July 29th. Goldman Sachs Group raised shares of ResMed from a “neutral” rating to a “buy” rating in a report on Monday, July 29th. ValuEngine downgraded shares of ResMed from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research raised shares of ResMed from a “hold” rating to a “buy” rating and set a $131.00 price target for the company in a report on Monday, July 8th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $121.50.
In related news, COO Robert Andrew Douglas sold 3,302 shares of ResMed stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $130.25, for a total transaction of $430,085.50. Following the completion of the transaction, the chief operating officer now directly owns 48,716 shares of the company’s stock, valued at approximately $6,345,259. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard Mchale sold 12,306 shares of ResMed stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $127.06, for a total transaction of $1,563,600.36. Following the transaction, the insider now directly owns 11,215 shares of the company’s stock, valued at $1,424,977.90. The disclosure for this sale can be found here. Insiders have sold a total of 72,668 shares of company stock valued at $9,581,078 over the last ninety days. 1.22% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in RMD. Invesco Ltd. lifted its holdings in ResMed by 208.2% during the 2nd quarter. Invesco Ltd. now owns 1,955,124 shares of the medical equipment provider’s stock valued at $238,584,000 after purchasing an additional 1,320,770 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in ResMed by 13,733.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 542,824 shares of the medical equipment provider’s stock valued at $66,241,000 after purchasing an additional 538,900 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its holdings in ResMed by 66.9% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 773,844 shares of the medical equipment provider’s stock valued at $94,433,000 after purchasing an additional 310,273 shares during the last quarter. Vanguard Group Inc. lifted its holdings in ResMed by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 15,327,232 shares of the medical equipment provider’s stock valued at $1,870,382,000 after purchasing an additional 212,459 shares during the last quarter. Finally, WCM Investment Management LLC lifted its holdings in ResMed by 2.2% during the 2nd quarter. WCM Investment Management LLC now owns 7,215,810 shares of the medical equipment provider’s stock valued at $880,545,000 after purchasing an additional 156,013 shares during the last quarter. 66.46% of the stock is owned by hedge funds and other institutional investors.
ResMed stock traded down $0.42 during mid-day trading on Tuesday, reaching $131.21. The company had a trading volume of 477,506 shares, compared to its average volume of 469,677. The company has a quick ratio of 1.43, a current ratio of 2.06 and a debt-to-equity ratio of 0.61. ResMed has a 52 week low of $90.64 and a 52 week high of $141.25. The company has a 50 day moving average of $134.06 and a 200-day moving average of $121.86. The firm has a market cap of $18.92 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 3.17 and a beta of 0.41.
ResMed Company Profile
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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