Equities analysts expect ResMed Inc. (NYSE:RMD) to announce $0.98 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for ResMed’s earnings. The lowest EPS estimate is $0.88 and the highest is $1.03. ResMed posted earnings per share of $1.00 during the same quarter last year, which suggests a negative year over year growth rate of 2%. The company is scheduled to issue its next earnings results after the market closes on Thursday, January 30th.
On average, analysts expect that ResMed will report full-year earnings of $4.11 per share for the current fiscal year, with EPS estimates ranging from $3.91 to $4.25. For the next year, analysts anticipate that the firm will post earnings of $4.41 per share, with EPS estimates ranging from $3.76 to $4.81. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover ResMed.
ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.06. The business had revenue of $681.06 million during the quarter, compared to analyst estimates of $660.87 million. ResMed had a net margin of 15.52% and a return on equity of 26.72%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share.
RMD has been the subject of a number of research analyst reports. KeyCorp initiated coverage on shares of ResMed in a research report on Friday, November 22nd. They issued a “sector weight” rating for the company. ValuEngine lowered shares of ResMed from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Finally, Oppenheimer initiated coverage on shares of ResMed in a research report on Thursday, January 9th. They issued a “hold” rating for the company. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $121.50.
In related news, insider Rajwant Sodhi sold 1,350 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $144.38, for a total value of $194,913.00. Also, CEO Michael J. Farrell sold 6,651 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $157.43, for a total value of $1,047,066.93. Following the completion of the transaction, the chief executive officer now owns 361,351 shares in the company, valued at approximately $56,887,487.93. The disclosure for this sale can be found here. Insiders sold 56,889 shares of company stock worth $8,439,612 in the last 90 days. 1.22% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Schroder Investment Management Group grew its holdings in ResMed by 6.7% during the second quarter. Schroder Investment Management Group now owns 270,758 shares of the medical equipment provider’s stock valued at $33,041,000 after purchasing an additional 16,885 shares during the last quarter. Renaissance Technologies LLC acquired a new position in ResMed during the second quarter valued at approximately $3,539,000. Commonwealth Bank of Australia grew its holdings in ResMed by 31.7% during the second quarter. Commonwealth Bank of Australia now owns 1,978 shares of the medical equipment provider’s stock valued at $239,000 after purchasing an additional 476 shares during the last quarter. APG Asset Management N.V. grew its holdings in ResMed by 20.8% during the second quarter. APG Asset Management N.V. now owns 67,357 shares of the medical equipment provider’s stock valued at $7,218,000 after purchasing an additional 11,600 shares during the last quarter. Finally, AXA acquired a new position in ResMed during the second quarter valued at approximately $259,000. Hedge funds and other institutional investors own 66.51% of the company’s stock.
NYSE RMD opened at $158.32 on Wednesday. The company has a 50 day simple moving average of $153.93 and a 200-day simple moving average of $138.83. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.11 and a quick ratio of 1.46. The firm has a market capitalization of $22.56 billion, a price-to-earnings ratio of 43.49, a price-to-earnings-growth ratio of 2.74 and a beta of 0.42. ResMed has a 52-week low of $90.64 and a 52-week high of $158.58.
About ResMed
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.
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