$0.76 EPS Expected for ResMed Inc. (RMD) This Quarter
Wall Street brokerages predict that ResMed Inc. (NYSE:RMD) will post earnings per share (EPS) of $0.76 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for ResMed’s earnings, with the lowest EPS estimate coming in at $0.72 and the highest estimate coming in at $0.81. ResMed reported earnings per share of $0.73 in the same quarter last year, which suggests a positive year over year growth rate of 4.1%. The company is expected to issue its next quarterly earnings results on Monday, January 22nd.
On average, analysts expect that ResMed will report full year earnings of $3.01 per share for the current year, with EPS estimates ranging from $2.86 to $3.19. For the next financial year, analysts anticipate that the firm will post earnings of $3.34 per share, with EPS estimates ranging from $3.09 to $3.71. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for ResMed.
ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.66 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.66. The business had revenue of $523.66 million during the quarter, compared to analysts’ expectations of $506.08 million. ResMed had a return on equity of 21.53% and a net margin of 16.58%. The company’s revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 EPS.
A number of equities analysts have issued reports on RMD shares. BidaskClub lowered ResMed from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research raised ResMed from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a research note on Thursday, July 6th. Citigroup Inc. raised ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, August 2nd. BMO Capital Markets increased their price target on ResMed from $61.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, August 2nd. Finally, Credit Suisse Group lowered ResMed from an “outperform” rating to a “neutral” rating in a research note on Wednesday, August 2nd. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. ResMed has a consensus rating of “Hold” and a consensus target price of $67.57.
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ResMed (NYSE RMD) opened at 82.99 on Tuesday. The stock’s 50 day moving average price is $78.43 and its 200-day moving average price is $74.99. ResMed has a 12-month low of $56.59 and a 12-month high of $87.81. The stock has a market capitalization of $11.80 billion, a PE ratio of 34.58 and a beta of 0.77.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 9th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, November 8th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.69%. ResMed’s dividend payout ratio (DPR) is presently 56.68%.
In other news, CFO Brett Sandercock sold 1,250 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $77.56, for a total transaction of $96,950.00. Following the completion of the sale, the chief financial officer now owns 65,941 shares in the company, valued at approximately $5,114,383.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter C. Farrell sold 20,000 shares of the stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $77.01, for a total value of $1,540,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 105,982 shares of company stock valued at $8,012,319 in the last quarter. Insiders own 1.77% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of ResMed by 6.8% in the second quarter. BlackRock Inc. now owns 14,240,077 shares of the medical equipment provider’s stock valued at $1,108,877,000 after purchasing an additional 904,939 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of ResMed by 3.3% in the second quarter. Vanguard Group Inc. now owns 11,914,671 shares of the medical equipment provider’s stock valued at $927,797,000 after purchasing an additional 378,964 shares in the last quarter. FMR LLC lifted its holdings in shares of ResMed by 38.2% in the second quarter. FMR LLC now owns 5,542,582 shares of the medical equipment provider’s stock valued at $431,601,000 after purchasing an additional 1,531,772 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of ResMed by 0.9% in the third quarter. Baillie Gifford & Co. now owns 4,913,626 shares of the medical equipment provider’s stock valued at $378,154,000 after purchasing an additional 44,340 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of ResMed by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 2,266,663 shares of the medical equipment provider’s stock valued at $176,505,000 after purchasing an additional 25,925 shares in the last quarter. Institutional investors own 59.66% of the company’s stock.
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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