ResMed (RMD) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS
ResMed (NYSE:RMD) issued its quarterly earnings data on Thursday. The company reported $0.64 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.66 by $0.02, AmericanBankingNews.com reports. The company had revenue of $415.20 million for the quarter, compared to the consensus estimate of $433.42 million. During the same quarter last year, the company posted $0.62 earnings per share. ResMed’s revenue was up .1% compared to the same quarter last year.
A number of research firms have recently commented on RMD. Analysts at Deutsche Bank downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research note on Thursday, July 3rd. They now have a $52.00 price target on the stock. On a related note, analysts at Zacks reiterated a “neutral” rating on shares of ResMed in a research note on Wednesday, June 11th. They now have a $55.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. upgraded shares of ResMed from a “neutral” rating to an “overweight” rating in a research note on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. ResMed has a consensus rating of “Hold” and an average target price of $46.90.
ResMed (NYSE:RMD) traded down 0.12% during mid-day trading on Thursday, hitting $51.74. The stock had a trading volume of 1,286,473 shares. ResMed has a 52 week low of $41.52 and a 52 week high of $57.34. The stock’s 50-day moving average is $50.8 and its 200-day moving average is $47.67. The company has a market cap of $7.261 billion and a price-to-earnings ratio of 22.73.
ResMed Inc, (NYSE:RMD) is a holding company for the ResMed Group.
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