ResMed (RMD) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS
ResMed (NYSE:RMD) posted its quarterly earnings results on Thursday. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by $0.03, American Banking & Market News reports. The company had revenue of $384.30 million for the quarter, compared to the consensus estimate of $398.09 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis.
In other ResMed news, Director Peter Farrell sold 25,000 shares of the company’s stock on the open market in a transaction dated Thursday, January 9th. The stock was sold at an average price of $48.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the director now directly owns 489,876 shares in the company, valued at approximately $23,514,048. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of ResMed (NYSE:RMD) traded up 0.77% during mid-day trading on Thursday, hitting $46.88. The stock had a trading volume of 1,854,028 shares. ResMed has a one year low of $41.98 and a one year high of $57.34. The stock’s 50-day moving average is $46.67 and its 200-day moving average is $49.41. The company has a market cap of $6.661 billion and a price-to-earnings ratio of 21.44.
A number of research firms have recently commented on RMD. Analysts at Macquarie downgraded shares of ResMed from an “outperform” rating to a “neutral” rating in a research note to investors on Friday, January 17th. On the ratings front, analysts at Zacks downgraded shares of ResMed from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, November 4th. They now have a $59.40 price target on the stock. Finally, analysts at Jefferies Group raised their price target on shares of ResMed from $40.00 to $46.00 in a research note to investors on Friday, October 25th. They now have a “hold” rating on the stock. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $50.18.
ResMed Inc, (NYSE:RMD) is a holding company for the ResMed Group.
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