ResMed (NYSE:RMD) Releases Earnings Results, Beats Expectations By $0.22 EPS

ResMed (NYSE:RMD) announced its earnings results on Thursday. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22, Briefing.com reports. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.92%. ResMed’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.68 earnings per share.

ResMed Trading Up 18.9 %

Shares of RMD opened at $218.06 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11. ResMed has a one year low of $132.24 and a one year high of $243.52. The stock has a 50-day moving average price of $187.07 and a 200 day moving average price of $172.12. The company has a market capitalization of $32.07 billion, a P/E ratio of 33.50, a P/E/G ratio of 2.68 and a beta of 0.67.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Wednesday, May 8th. ResMed’s dividend payout ratio (DPR) is 29.49%.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the transaction, the director now directly owns 157,404 shares in the company, valued at approximately $28,751,414.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the sale, the director now owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now owns 6,688 shares in the company, valued at approximately $1,158,696. The disclosure for this sale can be found here. Insiders have sold 11,216 shares of company stock worth $2,046,617 in the last three months. 1.21% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

RMD has been the subject of a number of recent analyst reports. Needham & Company LLC boosted their target price on shares of ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a report on Friday. JPMorgan Chase & Co. raised their price objective on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. KeyCorp increased their target price on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research report on Friday. Royal Bank of Canada boosted their price objective on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Friday. Finally, Oppenheimer cut their target price on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $202.80.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It operates in two segments, Sleep and Respiratory Care, and Software as a Service. 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, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.