Equities research analysts predict that ResMed Inc. (NYSE:RMD) will announce $0.75 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for ResMed’s earnings. The lowest EPS estimate is $0.70 and the highest is $0.76. ResMed reported earnings per share of $0.74 during the same quarter last year, which indicates a positive year over year growth rate of 1.4%. The firm is scheduled to report its next quarterly earnings results after the market closes on Tuesday, August 1st.
On average, analysts expect that ResMed will report full-year earnings of $2.80 per share for the current financial year, with EPS estimates ranging from $2.76 to $2.83. For the next financial year, analysts forecast that the business will post earnings of $3.12 per share, with EPS estimates ranging from $2.93 to $3.33. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that that provide coverage for ResMed.
ResMed (NYSE:RMD) last released its earnings results on Thursday, April 27th. The medical equipment provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. The company had revenue of $514.20 million during the quarter, compared to analysts’ expectations of $525.84 million. ResMed had a net margin of 15.96% and a return on equity of 22.53%. ResMed’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period last year, the business earned $0.68 EPS.
RMD has been the topic of several analyst reports. BidaskClub upgraded ResMed from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Zacks Investment Research downgraded ResMed from a “buy” rating to a “hold” rating in a report on Tuesday, March 28th. Citigroup Inc. downgraded ResMed from a “buy” rating to a “neutral” rating in a report on Friday, April 28th. William Blair reiterated an “outperform” rating on shares of ResMed in a report on Thursday, April 13th. Finally, Jefferies Group LLC reiterated a “sell” rating and set a $56.00 target price on shares of ResMed in a report on Friday, April 28th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. ResMed currently has a consensus rating of “Hold” and an average target price of $64.50.
ResMed (RMD) remained flat at $76.82 during mid-day trading on Wednesday. The company had a trading volume of 646,157 shares. The stock’s 50-day moving average price is $72.98 and its 200-day moving average price is $69.45. ResMed has a 52 week low of $56.59 and a 52 week high of $79.44. The firm has a market capitalization of $10.89 billion, a price-to-earnings ratio of 33.69 and a beta of 0.84.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, May 11th were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, May 9th. This represents a $1.32 annualized dividend and a yield of 1.72%. ResMed’s dividend payout ratio is presently 57.64%.
In other news, insider James Hollingshead sold 7,139 shares of the business’s stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $68.37, for a total value of $488,093.43. Following the completion of the sale, the insider now directly owns 44,934 shares in the company, valued at approximately $3,072,137.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jr. Gregor K. Emmert purchased 424,000 shares of the stock in a transaction dated Wednesday, June 28th. The stock was purchased at an average price of $0.06 per share, with a total value of $25,440.00. Insiders have sold a total of 180,260 shares of company stock worth $13,495,616 over the last 90 days. 1.97% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the stock. Commerzbank Aktiengesellschaft FI increased its stake in shares of ResMed by 0.3% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 5,238 shares of the medical equipment provider’s stock worth $377,000 after buying an additional 14 shares during the period. Morgan Dempsey Capital Management LLC increased its stake in shares of ResMed by 2.3% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,189 shares of the medical equipment provider’s stock worth $158,000 after buying an additional 50 shares during the period. Intrust Bank NA increased its stake in shares of ResMed by 1.0% in the first quarter. Intrust Bank NA now owns 7,101 shares of the medical equipment provider’s stock worth $511,000 after buying an additional 73 shares during the period. Pacer Advisors Inc. increased its stake in shares of ResMed by 3.0% in the first quarter. Pacer Advisors Inc. now owns 2,699 shares of the medical equipment provider’s stock worth $194,000 after buying an additional 79 shares during the period. Finally, Atria Investments LLC increased its stake in shares of ResMed by 1.9% in the first quarter. Atria Investments LLC now owns 4,564 shares of the medical equipment provider’s stock worth $328,000 after buying an additional 83 shares during the period. Institutional investors and hedge funds own 60.75% of the company’s stock.
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ResMed Company Profile
ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
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