ResMed Inc. (RMD) Expected to Announce Earnings of $0.65 Per Share
Brokerages expect that ResMed Inc. (NYSE:RMD) will report $0.65 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have made estimates for ResMed’s earnings. The lowest EPS estimate is $0.63 and the highest is $0.67. ResMed reported earnings per share of $0.62 in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.8%. The firm is expected to announce its next earnings report after the market closes on Thursday, October 26th.
On average, analysts expect that ResMed will report full-year earnings of $3.01 per share for the current fiscal year, with EPS estimates ranging from $2.86 to $3.19. For the next year, analysts forecast that the firm will report earnings of $3.33 per share, with EPS estimates ranging from $3.09 to $3.71. Zacks’ earnings per share averages are an average based on a survey of analysts that cover ResMed.
ResMed (NYSE:RMD) last issued its quarterly earnings data 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 return on equity of 21.99% and a net margin of 16.56%. The business had revenue of $556.69 million for the quarter, compared to the consensus estimate of $557.68 million. During the same period in the prior year, the business earned $0.74 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis.
RMD has been the topic of a number of recent research reports. BidaskClub upgraded ResMed from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Needham & Company LLC restated a “sell” rating on shares of ResMed in a report on Friday, September 8th. Zacks Investment Research upgraded ResMed from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Barclays PLC lifted their target price on ResMed from $65.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, September 25th. Finally, Credit Suisse Group cut ResMed from an “outperform” rating to a “neutral” rating in a report on Wednesday, August 2nd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $68.50.
In other news, insider James Hollingshead sold 7,140 shares of the firm’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $77.43, for a total value of $552,850.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $96,862.50. Following the completion of the sale, 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. In the last ninety days, insiders sold 114,372 shares of company stock valued at $8,662,032. 1.77% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of ResMed by 17.3% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 42,898 shares of the medical equipment provider’s stock worth $3,340,000 after buying an additional 6,316 shares during the period. Delta Lloyd Asset Management N.V. acquired a new stake in shares of ResMed in the second quarter worth $6,194,000. Prudential Financial Inc. boosted its position in shares of ResMed by 50.5% in the second quarter. Prudential Financial Inc. now owns 131,997 shares of the medical equipment provider’s stock worth $10,279,000 after buying an additional 44,266 shares during the period. KBC Group NV boosted its position in shares of ResMed by 7.9% in the second quarter. KBC Group NV now owns 27,212 shares of the medical equipment provider’s stock worth $2,119,000 after buying an additional 1,993 shares during the period. Finally, Stephens Investment Management Group LLC boosted its position in shares of ResMed by 0.5% in the second quarter. Stephens Investment Management Group LLC now owns 357,493 shares of the medical equipment provider’s stock worth $27,838,000 after buying an additional 1,638 shares during the period. 60.08% of the stock is owned by institutional investors and hedge funds.
Shares of ResMed (NYSE RMD) opened at 76.55 on Thursday. The stock has a 50 day moving average price of $77.39 and a 200 day moving average price of $74.11. ResMed has a 12 month low of $56.59 and a 12 month high of $81.87. The stock has a market capitalization of $10.89 billion, a P/E ratio of 31.90 and a beta of 0.77.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 21st. Stockholders of record on Thursday, August 17th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Tuesday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.33. ResMed’s dividend payout ratio (DPR) is 58.09%.
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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