ResMed Inc. (RMD) Expected to Announce Quarterly Sales of $548.75 Million
Brokerages expect ResMed Inc. (NYSE:RMD) to announce $548.75 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for ResMed’s earnings, with estimates ranging from $543.5 million to $554 million. ResMed reported sales of $518.65 million during the same quarter last year, which indicates a positive year over year growth rate of 5.8%. The firm is expected to issue its next quarterly earnings report on Thursday, July 27th.
According to Zacks, analysts expect that ResMed will report full year sales of $548.75 million for the current financial year, with estimates ranging from $2.05 billion to $2.07 billion. For the next financial year, analysts forecast that the business will report sales of $2.24 billion per share, with estimates ranging from $2.2 billion to $2.29 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover ResMed.
ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, April 27th. The medical equipment provider reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.01. The business had revenue of $514.20 million during the quarter, compared to the consensus estimate of $525.84 million. ResMed had a net margin of 16.48% and a return on equity of 22.82%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 EPS.
Several equities research analysts recently weighed in on the stock. BMO Capital Markets reaffirmed a “hold” rating on shares of ResMed in a report on Friday, May 12th. Needham & Company LLC reaffirmed a “sell” rating on shares of ResMed in a report on Tuesday, January 24th. Citigroup Inc downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a report on Friday, April 28th. Zacks Investment Research raised shares of ResMed from a “sell” rating to a “hold” rating in a report on Wednesday, January 25th. Finally, Jefferies Group LLC reaffirmed a “sell” rating and issued a $56.00 price objective on shares of ResMed in a report on Friday, April 28th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $63.75.
Shares of ResMed (NYSE:RMD) traded down 1.409% during trading on Wednesday, hitting $67.515. 50,958 shares of the stock were exchanged. ResMed has a 12-month low of $56.28 and a 12-month high of $73.46. The stock has a 50-day moving average of $69.62 and a 200 day moving average of $66.32. The stock has a market cap of $9.57 billion, a P/E ratio of 29.612 and a beta of 0.82.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, May 11th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Tuesday, May 9th. ResMed’s payout ratio is 57.39%.
In other ResMed news, insider David Pendarvis sold 6,365 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $71.59, for a total value of $455,670.35. Following the completion of the sale, the insider now directly owns 84,261 shares of the company’s stock, valued at approximately $6,032,244.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brett Sandercock sold 1,250 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $72.48, for a total transaction of $90,600.00. Following the completion of the sale, the chief financial officer now directly owns 65,283 shares of the company’s stock, valued at $4,731,711.84. The disclosure for this sale can be found here. Insiders sold a total of 102,022 shares of company stock valued at $7,198,345 over the last three months. 1.97% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Commerzbank Aktiengesellschaft FI increased its stake in shares of ResMed by 0.3% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 5,238 shares of the medical equipment provider’s stock worth $377,000 after buying an additional 14 shares during the last quarter. Morgan Dempsey Capital Management LLC increased its stake in shares of ResMed by 2.3% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,189 shares of the medical equipment provider’s stock worth $158,000 after buying an additional 50 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of ResMed by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,870 shares of the medical equipment provider’s stock worth $1,295,000 after buying an additional 59 shares during the last quarter. Intrust Bank NA increased its stake in shares of ResMed by 1.0% in the first quarter. Intrust Bank NA now owns 7,101 shares of the medical equipment provider’s stock worth $511,000 after buying an additional 73 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of ResMed by 3.0% in the first quarter. Pacer Advisors Inc. now owns 2,699 shares of the medical equipment provider’s stock worth $194,000 after buying an additional 79 shares during the last quarter. 62.51% of the stock is owned by institutional investors.
ILLEGAL ACTIVITY WARNING: This news story was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of international trademark and copyright laws. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/05/17/resmed-inc-rmd-expected-to-announce-quarterly-sales-of-548-75-million.html.
ResMed Company Profile
ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ResMed Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed Inc. and related companies with MarketBeat.com's FREE daily email newsletter.