ResMed Inc. (RMD) to Release Earnings on Thursday
ResMed Inc. (NYSE:RMD) is scheduled to post its quarterly earnings results after the market closes on Thursday, October 26th. Analysts expect ResMed to post earnings of $0.66 per share for the quarter.
ResMed (NYSE:RMD) last posted its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.02. ResMed had a net margin of 16.56% and a return on equity of 21.99%. The firm had revenue of $556.69 million for the quarter, compared to analyst estimates of $557.68 million. During the same period in the prior year, the firm posted $0.74 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, analysts expect ResMed to post $3.06 EPS for the current fiscal year and $3.40 EPS for the next fiscal year.
Shares of ResMed Inc. (RMD) opened at 78.87 on Thursday. The firm’s 50-day moving average is $77.89 and its 200 day moving average is $74.33. The company has a market capitalization of $11.22 billion, a price-to-earnings ratio of 32.86 and a beta of 0.77. ResMed Inc. has a 52-week low of $56.59 and a 52-week high of $81.87.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 21st. Shareholders of record on Thursday, August 17th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 1.78%. ResMed’s dividend payout ratio (DPR) is 58.09%.
In related news, CFO Brett Sandercock sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $77.49, for a total value of $96,862.50. Following the completion of the sale, the chief financial officer now owns 59,258 shares in the company, valued at approximately $4,591,902.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Pendarvis sold 6,364 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $72.10, for a total value of $458,844.40. Following the completion of the sale, the insider now owns 84,476 shares of the company’s stock, valued at approximately $6,090,719.60. The disclosure for this sale can be found here. Insiders have sold 107,232 shares of company stock valued at $8,109,182 in the last three months. 1.77% of the stock is owned by insiders.
A number of research firms have recently commented on RMD. Zacks Investment Research upgraded ResMed from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research note on Thursday, October 12th. Jefferies Group LLC reiterated a “sell” rating and set a $56.00 target price on shares of ResMed in a research note on Thursday, October 12th. Barclays PLC boosted their price objective on ResMed from $65.00 to $68.00 and gave the company an “underweight” rating in a research note on Monday, September 25th. Needham & Company LLC restated a “sell” rating on shares of ResMed in a research note on Friday, September 8th. Finally, Credit Suisse Group cut ResMed from an “outperform” rating to a “neutral” rating in a research note on Tuesday, August 8th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. ResMed presently has a consensus rating of “Hold” and an average price target of $68.33.
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.
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