Q1 2018 EPS Estimates for ResMed Inc. Lowered by Jefferies Group (NYSE:RMD)
ResMed Inc. (NYSE:RMD) – Research analysts at Jefferies Group decreased their Q1 2018 EPS estimates for shares of ResMed in a research note issued on Tuesday. Jefferies Group analyst A. Petrone now expects that the medical equipment provider will post earnings of $0.63 per share for the quarter, down from their prior estimate of $0.64. Jefferies Group currently has a “Sell” rating and a $56.00 price target on the stock. Jefferies Group also issued estimates for ResMed’s Q2 2018 earnings at $0.74 EPS, Q3 2018 earnings at $0.72 EPS, Q4 2018 earnings at $0.77 EPS, FY2018 earnings at $2.86 EPS, FY2019 earnings at $3.09 EPS and FY2020 earnings at $3.31 EPS.
ResMed (NYSE:RMD) last released its earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.02. ResMed had a net margin of 16.56% and a return on equity of 22.55%. The firm had revenue of $556.69 million during the quarter, compared to analyst estimates of $557.68 million. During the same period last year, the business earned $0.74 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. ILLEGAL ACTIVITY NOTICE: This piece was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another site, it was stolen and republished in violation of US & international copyright and trademark law. The original version of this piece can be read at https://www.thecerbatgem.com/2017/08/03/q1-2018-eps-estimates-for-resmed-inc-lowered-by-jefferies-group-nysermd.html.
Several other brokerages have also recently weighed in on RMD. Zacks Investment Research raised shares of ResMed from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. BMO Capital Markets upped their price target on shares of ResMed from $61.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday. Citigroup Inc. raised shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday. Credit Suisse Group cut shares of ResMed from an “outperform” rating to a “neutral” rating in a research report on Wednesday. Finally, Needham & Company LLC reaffirmed a “sell” rating on shares of ResMed in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. ResMed presently has an average rating of “Hold” and an average price target of $65.63.
ResMed (NYSE RMD) traded up 1.496% during trading on Thursday, hitting $73.595. 612,950 shares of the stock traded hands. The firm has a market cap of $10.44 billion, a PE ratio of 32.279 and a beta of 0.83. The firm has a 50-day moving average price of $77.30 and a 200 day moving average price of $71.87. ResMed has a 12 month low of $56.59 and a 12 month high of $79.63.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank boosted its position in ResMed by 26.6% in the first quarter. Toronto Dominion Bank now owns 1,543 shares of the medical equipment provider’s stock worth $111,000 after buying an additional 324 shares in the last quarter. Creative Planning boosted its position in ResMed by 97.1% in the second quarter. Creative Planning now owns 1,671 shares of the medical equipment provider’s stock worth $130,000 after buying an additional 823 shares in the last quarter. Van ECK Associates Corp boosted its position in ResMed by 7.5% in the first quarter. Van ECK Associates Corp now owns 1,945 shares of the medical equipment provider’s stock worth $140,000 after buying an additional 136 shares in the last quarter. Huntington National Bank bought a new position in ResMed during the second quarter worth about $156,000. Finally, Morgan Dempsey Capital Management LLC boosted its position in 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 in the last quarter. 60.65% of the stock is owned by institutional investors and hedge funds.
In other ResMed news, Director Richard Sulpizio sold 65,887 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $77.82, for a total value of $5,127,326.34. Following the completion of the transaction, the director now owns 4,429 shares of the company’s stock, valued at $344,664.78. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Brett Sandercock sold 1,250 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $77.49, for a total transaction of $96,862.50. Following the completion of the transaction, the chief financial officer now directly owns 59,258 shares of the company’s stock, valued at approximately $4,591,902.42. The disclosure for this sale can be found here. Insiders have sold 153,896 shares of company stock valued at $11,753,799 in the last three months. 1.97% of the stock is currently owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, August 17th will be given a dividend of $0.35 per share. This is a boost from ResMed’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.40 dividend on an annualized basis and a yield of 1.93%. ResMed’s dividend payout ratio is presently 54.77%.
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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