ResMed Inc. (NYSE:RMD) Expected to Post Earnings of $1.35 Per Share

Equities analysts expect that ResMed Inc. (NYSE:RMD) will post $1.35 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for ResMed’s earnings, with the lowest EPS estimate coming in at $1.25 and the highest estimate coming in at $1.47. ResMed posted earnings per share of $1.27 in the same quarter last year, which suggests a positive year over year growth rate of 6.3%. The company is expected to issue its next quarterly earnings results after the market closes on Thursday, October 28th.

According to Zacks, analysts expect that ResMed will report full-year earnings of $6.26 per share for the current fiscal year, with EPS estimates ranging from $5.90 to $6.91. For the next fiscal year, analysts anticipate that the business will post earnings of $6.71 per share, with EPS estimates ranging from $6.32 to $7.08. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow ResMed.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, August 5th. The medical equipment provider reported $1.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.10. ResMed had a net margin of 14.84% and a return on equity of 28.03%. The company had revenue of $876.10 million for the quarter, compared to the consensus estimate of $781.10 million. During the same quarter in the previous year, the company earned $1.33 EPS.

A number of analysts have recently commented on the company. Macquarie raised ResMed from a “neutral” rating to an “outperform” rating in a research note on Tuesday, June 22nd. Royal Bank of Canada increased their target price on ResMed from $223.00 to $238.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 27th. Bank of America cut ResMed from a “neutral” rating to an “underperform” rating and increased their target price for the stock from $216.00 to $221.00 in a research note on Wednesday, June 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Monday, August 9th. Finally, JPMorgan Chase & Co. downgraded ResMed from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $245.00 to $246.00 in a report on Monday, July 26th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $248.67.

In other ResMed news, COO Robert Andrew Douglas sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, August 16th. The stock was sold at an average price of $275.57, for a total transaction of $2,204,560.00. Following the sale, the chief operating officer now directly owns 24,767 shares of the company’s stock, valued at $6,825,042.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brett Sandercock sold 10,736 shares of the business’s stock in a transaction that occurred on Friday, August 20th. The shares were sold at an average price of $281.73, for a total value of $3,024,653.28. Following the completion of the sale, the chief financial officer now owns 94,979 shares of the company’s stock, valued at approximately $26,758,433.67. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,410 shares of company stock valued at $12,310,233. Company insiders own 1.33% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. FFT Wealth Management LLC acquired a new stake in ResMed in the 2nd quarter valued at about $35,000. CSat Investment Advisory L.P. lifted its position in shares of ResMed by 68.4% during the 1st quarter. CSat Investment Advisory L.P. now owns 165 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 67 shares during the last quarter. Twin Lakes Capital Management LLC purchased a new stake in shares of ResMed during the 1st quarter worth $39,000. Tradition Wealth Management LLC purchased a new stake in shares of ResMed during the 2nd quarter worth $62,000. Finally, Koshinski Asset Management Inc. purchased a new stake in shares of ResMed during the 3rd quarter worth $91,000. 65.58% of the stock is currently owned by institutional investors and hedge funds.

NYSE RMD traded up $1.42 on Friday, hitting $253.67. 13,516 shares of the company were exchanged, compared to its average volume of 594,432. The firm has a 50 day moving average of $278.37 and a two-hundred day moving average of $241.70. The company has a market cap of $36.95 billion, a P/E ratio of 77.85, a P/E/G ratio of 3.14 and a beta of 0.30. The company has a current ratio of 1.73, a quick ratio of 1.23 and a debt-to-equity ratio of 0.22. ResMed has a 1-year low of $174.84 and a 1-year high of $301.34.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 23rd. Shareholders of record on Thursday, August 19th were issued a $0.42 dividend. The ex-dividend date was Wednesday, August 18th. This represents a $1.68 annualized dividend and a yield of 0.66%. This is a boost from ResMed’s previous quarterly dividend of $0.39. ResMed’s dividend payout ratio (DPR) is 31.52%.

About ResMed

ResMed, Inc engages in providing digital health and cloud-connected medical devices. Its digital health technologies and cloud-connected medical devices transform care for people with sleep apnea, chronic obstructive pulmonary disease, or COPD, and other chronic diseases. The firm operates through the following segments: Sleep and Respiratory Care, and Software as a Service.

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Earnings History and Estimates for ResMed (NYSE:RMD)

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