Analysts forecast that ResMed Inc. (NYSE:RMD) will announce $702.43 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for ResMed’s earnings, with the lowest sales estimate coming in at $667.30 million and the highest estimate coming in at $733.00 million. ResMed posted sales of $681.06 million in the same quarter last year, which would indicate a positive year over year growth rate of 3.1%. The firm is expected to issue its next earnings results on Thursday, October 22nd.
On average, analysts expect that ResMed will report full-year sales of $3.08 billion for the current financial year, with estimates ranging from $2.98 billion to $3.20 billion. For the next financial year, analysts anticipate that the business will post sales of $3.36 billion, with estimates ranging from $3.18 billion to $3.53 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for ResMed.
ResMed (NYSE:RMD) last posted its earnings results on Wednesday, August 5th. The medical equipment provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.36. The firm had revenue of $770.30 million for the quarter, compared to the consensus estimate of $755.01 million. ResMed had a return on equity of 30.34% and a net margin of 21.02%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.95 EPS.
A number of analysts have recently commented on RMD shares. Morgan Stanley cut shares of ResMed from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 6th. Bank of America cut shares of ResMed from a “buy” rating to an “underperform” rating in a research note on Monday, August 3rd. Zacks Investment Research cut shares of ResMed from a “buy” rating to a “hold” rating and set a $184.00 target price for the company. in a research note on Tuesday, August 11th. Goldman Sachs Group cut shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Thursday, August 6th. Finally, Oppenheimer boosted their target price on shares of ResMed from $200.00 to $210.00 in a research note on Thursday, August 6th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $186.00.
Shares of RMD stock traded down $4.30 on Tuesday, reaching $173.56. 476,623 shares of the company were exchanged, compared to its average volume of 636,087. The company has a market cap of $25.15 billion, a price-to-earnings ratio of 40.65, a P/E/G ratio of 2.65 and a beta of 0.36. The business has a 50-day moving average price of $189.21 and a 200 day moving average price of $170.13. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.84 and a current ratio of 2.53. ResMed has a 1 year low of $108.85 and a 1 year high of $208.99.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, August 20th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.90%. ResMed’s dividend payout ratio is presently 32.77%.
In related news, insider David Pendarvis sold 5,919 shares of ResMed stock in a transaction on Monday, July 6th. The stock was sold at an average price of $194.64, for a total transaction of $1,152,074.16. Following the sale, the insider now directly owns 139,861 shares in the company, valued at $27,222,545.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Rajwant Sodhi sold 1,500 shares of ResMed stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $200.06, for a total value of $300,090.00. The disclosure for this sale can be found here. Insiders sold 26,109 shares of company stock worth $4,791,735 in the last 90 days. Corporate insiders own 1.22% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in shares of ResMed by 7.0% during the second quarter. BlackRock Inc. now owns 13,203,838 shares of the medical equipment provider’s stock worth $2,535,139,000 after buying an additional 859,377 shares during the period. WCM Investment Management LLC lifted its holdings in ResMed by 3.7% during the second quarter. WCM Investment Management LLC now owns 8,468,653 shares of the medical equipment provider’s stock worth $1,625,981,000 after acquiring an additional 299,913 shares during the period. State Street Corp lifted its holdings in ResMed by 3.4% during the first quarter. State Street Corp now owns 6,657,104 shares of the medical equipment provider’s stock worth $980,525,000 after acquiring an additional 218,417 shares during the period. Geode Capital Management LLC lifted its holdings in ResMed by 1.3% during the first quarter. Geode Capital Management LLC now owns 2,459,327 shares of the medical equipment provider’s stock worth $361,642,000 after acquiring an additional 30,612 shares during the period. Finally, Invesco Ltd. increased its position in ResMed by 21.5% in the first quarter. Invesco Ltd. now owns 2,446,398 shares of the medical equipment provider’s stock worth $360,330,000 after buying an additional 432,805 shares during the last quarter. Institutional investors and hedge funds own 69.38% of the company’s stock.
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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