ResMed Inc. (RMD) Expected to Post Quarterly Sales of $500.75 Million
Analysts expect ResMed Inc. (NYSE:RMD) to announce sales of $500.75 million for the current quarter, according to Zacks. Two analysts have made estimates for ResMed’s earnings, with the highest sales estimate coming in at $503.50 million and the lowest estimate coming in at $498.00 million. ResMed posted sales of $465.45 million during the same quarter last year, which suggests a positive year over year growth rate of 7.6%. The business is scheduled to issue its next quarterly earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that ResMed will report full-year sales of $500.75 million for the current financial year, with estimates ranging from $2.21 billion to $2.34 billion. For the next fiscal year, analysts anticipate that the company will post sales of $2.42 billion per share, with estimates ranging from $2.34 billion to $2.57 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow ResMed.
ResMed (NYSE:RMD) last released its earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.02. The business had revenue of $556.69 million for the quarter, compared to analysts’ expectations of $557.68 million. ResMed had a return on equity of 21.99% and a net margin of 16.56%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 earnings per share.
A number of analysts have recently weighed in on RMD shares. BidaskClub upgraded shares of ResMed from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Citigroup Inc. downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a report on Friday, April 28th. Zacks Investment Research upgraded shares of ResMed from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Needham & Company LLC restated a “sell” rating on shares of ResMed in a report on Wednesday, August 2nd. Finally, Credit Suisse Group downgraded shares of ResMed from an “outperform” rating to a “neutral” rating in a report on Wednesday, August 2nd. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. ResMed has a consensus rating of “Hold” and an average target price of $65.63.
COPYRIGHT VIOLATION NOTICE: “ResMed Inc. (RMD) Expected to Post Quarterly Sales of $500.75 Million” was first posted by American Banking News and is the sole property of of American Banking News. If you are reading this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/08/19/resmed-inc-rmd-expected-to-post-quarterly-sales-of-500-75-million.html.
ResMed (RMD) opened at 73.07 on Friday. The company has a 50-day moving average price of $75.87 and a 200-day moving average price of $72.42. The company has a market cap of $10.39 billion, a PE ratio of 30.45 and a beta of 0.83. ResMed has a 1-year low of $56.59 and a 1-year high of $79.63.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, August 17th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.92%. This is an increase from ResMed’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Tuesday, August 15th. ResMed’s dividend payout ratio is presently 58.09%.
In other news, insider Jr. Gregor K. Emmert purchased 424,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The shares were bought at an average cost of $0.06 per share, for a total transaction of $25,440.00. Also, CFO Brett Sandercock sold 1,250 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $71.02, for a total transaction of $88,775.00. The disclosure for this sale can be found here. Insiders have sold a total of 204,650 shares of company stock worth $15,516,845 over the last quarter. 1.97% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the stock. Korea Investment CORP increased its position in shares of ResMed by 305.2% in the first quarter. Korea Investment CORP now owns 49,439 shares of the medical equipment provider’s stock valued at $3,558,000 after buying an additional 37,239 shares during the last quarter. Crestwood Advisors Group LLC increased its position in shares of ResMed by 1.8% in the first quarter. Crestwood Advisors Group LLC now owns 204,965 shares of the medical equipment provider’s stock valued at $14,751,000 after buying an additional 3,653 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of ResMed by 5.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,759 shares of the medical equipment provider’s stock valued at $253,000 after buying an additional 194 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of ResMed by 1.1% in the first quarter. Nationwide Fund Advisors now owns 236,511 shares of the medical equipment provider’s stock valued at $17,022,000 after buying an additional 2,477 shares during the last quarter. Finally, Cape Cod Five Cents Savings Bank increased its position in shares of ResMed by 0.6% in the first quarter. Cape Cod Five Cents Savings Bank now owns 48,166 shares of the medical equipment provider’s stock valued at $3,467,000 after buying an additional 299 shares during the last quarter. Institutional investors own 60.66% of the company’s stock.
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.