Equities analysts forecast that ResMed Inc. (NYSE:RMD) will announce $725.38 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for ResMed’s earnings, with the lowest sales estimate coming in at $721.00 million and the highest estimate coming in at $733.00 million. ResMed posted sales of $651.10 million during the same quarter last year, which would indicate a positive year over year growth rate of 11.4%. The company is scheduled to report its next quarterly earnings results after the market closes on Thursday, January 30th.
According to Zacks, analysts expect that ResMed will report full-year sales of $2.89 billion for the current financial year, with estimates ranging from $2.87 billion to $2.91 billion. For the next fiscal year, analysts expect that the company will report sales of $3.14 billion, with estimates ranging from $3.09 billion to $3.18 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for ResMed.
ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.87 by $0.06. ResMed had a net margin of 15.52% and a return on equity of 26.72%. The firm had revenue of $681.06 million for the quarter, compared to analyst estimates of $660.87 million. During the same period last year, the firm earned $0.81 EPS. The business’s quarterly revenue was up 15.8% compared to the same quarter last year.
Several equities analysts have commented on RMD shares. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, October 25th. Oppenheimer started coverage on shares of ResMed in a report on Thursday, January 9th. They issued a “hold” rating on the stock. KeyCorp started coverage on shares of ResMed in a report on Friday, November 22nd. They issued a “sector weight” rating on the stock. Finally, ValuEngine lowered shares of ResMed from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. 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 a consensus price target of $121.50.
RMD stock opened at $160.73 on Friday. The company has a quick ratio of 1.46, a current ratio of 2.11 and a debt-to-equity ratio of 0.60. ResMed has a 12 month low of $90.64 and a 12 month high of $160.75. The firm has a market cap of $22.76 billion, a P/E ratio of 44.16, a P/E/G ratio of 3.31 and a beta of 0.42. The company’s 50-day moving average price is $154.31 and its two-hundred day moving average price is $139.22.
In related news, insider David Pendarvis sold 4,367 shares of ResMed stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $147.85, for a total transaction of $645,660.95. Following the sale, the insider now directly owns 128,781 shares of the company’s stock, valued at approximately $19,040,270.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brett Sandercock sold 3,000 shares of ResMed stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $145.95, for a total transaction of $437,850.00. Following the sale, the chief financial officer now directly owns 72,690 shares in the company, valued at $10,609,105.50. The disclosure for this sale can be found here. Insiders have sold a total of 56,889 shares of company stock worth $8,439,612 over the last ninety days. 1.22% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in RMD. Squar Milner Financial Services LLC grew its holdings in shares of ResMed by 342.9% during the 3rd quarter. Squar Milner Financial Services LLC now owns 217 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 168 shares during the last quarter. Lenox Wealth Advisors LLC bought a new stake in shares of ResMed during the 4th quarter valued at approximately $32,000. Allworth Financial LP bought a new stake in shares of ResMed during the 4th quarter valued at approximately $39,000. CSat Investment Advisory L.P. grew its holdings in shares of ResMed by 97.0% during the 2nd quarter. CSat Investment Advisory L.P. now owns 388 shares of the medical equipment provider’s stock valued at $47,000 after purchasing an additional 191 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its holdings in shares of ResMed by 26.0% during the 3rd quarter. AdvisorNet Financial Inc now owns 392 shares of the medical equipment provider’s stock valued at $53,000 after purchasing an additional 81 shares during the last quarter. 66.51% of the stock is currently owned by institutional investors.
ResMed Company Profile
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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