ResMed (RMD) Posts Earnings Results, Meets Estimates

ResMed (NYSE:RMD) issued its quarterly earnings data on Thursday. The medical equipment provider reported $0.95 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.95, Bloomberg Earnings reports. ResMed had a return on equity of 23.72% and a net margin of 13.52%. The company had revenue of $623.63 million during the quarter, compared to the consensus estimate of $622.78 million. During the same period last year, the company earned $0.77 earnings per share. The firm’s revenue was up 12.0% compared to the same quarter last year.

ResMed opened at $108.61 on Friday, according to ResMed has a one year low of $72.10 and a one year high of $109.97. The company has a market cap of $15.10 billion, a P/E ratio of 38.07 and a beta of 0.89. The company has a quick ratio of 2.85, a current ratio of 3.48 and a debt-to-equity ratio of 0.39.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 20th. Investors of record on Thursday, August 16th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.36%. This is a boost from ResMed’s previous quarterly dividend of $0.35. ResMed’s dividend payout ratio (DPR) is currently 49.65%.

In related news, Director Gary W. Pace sold 28,403 shares of the firm’s stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $97.37, for a total transaction of $2,765,600.11. Following the completion of the sale, the director now owns 128,981 shares of the company’s stock, valued at $12,558,879.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Hollingshead sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $105.93, for a total value of $63,558.00. The disclosure for this sale can be found here. Insiders have sold 67,416 shares of company stock valued at $6,797,896 in the last ninety days. 1.77% of the stock is currently owned by insiders.

RMD has been the subject of several recent analyst reports. Zacks Investment Research raised ResMed from a “sell” rating to a “hold” rating in a research note on Tuesday. UBS Group cut ResMed from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 24th. William Blair reaffirmed an “outperform” rating on shares of ResMed in a research note on Monday, April 16th. Finally, Goldman Sachs Group initiated coverage on ResMed in a research note on Sunday, July 1st. They set a “buy” rating for the company. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $77.33.

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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Earnings History for ResMed (NYSE:RMD)

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