Brokerages Expect ResMed Inc. (RMD) Will Post Earnings of $0.93 Per Share
Analysts expect ResMed Inc. (NYSE:RMD) to post earnings of $0.93 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for ResMed’s earnings, with the highest EPS estimate coming in at $0.96 and the lowest estimate coming in at $0.89. ResMed posted earnings of $1.00 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 7%. The business is expected to report its next quarterly earnings report on Monday, January 28th.
According to Zacks, analysts expect that ResMed will report full year earnings of $3.70 per share for the current fiscal year, with EPS estimates ranging from $3.55 to $3.78. For the next financial year, analysts forecast that the company will report earnings of $4.12 per share, with EPS estimates ranging from $3.95 to $4.33. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow ResMed.
ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 25th. The medical equipment provider reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.01. ResMed had a return on equity of 26.29% and a net margin of 13.94%. The business had revenue of $588.28 million for the quarter, compared to analysts’ expectations of $576.66 million.
In other news, CFO Brett Sandercock sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $107.45, for a total transaction of $214,900.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James Hollingshead sold 600 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $115.88, for a total value of $69,528.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,420 shares of company stock worth $1,467,835. Company insiders own 1.24% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in RMD. Harvest Fund Management Co. Ltd grew its holdings in shares of ResMed by 245.4% during the third quarter. Harvest Fund Management Co. Ltd now owns 905 shares of the medical equipment provider’s stock worth $104,000 after purchasing an additional 643 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of ResMed by 144.7% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,018 shares of the medical equipment provider’s stock worth $117,000 after purchasing an additional 602 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of ResMed during the second quarter worth about $131,000. Qube Research & Technologies Ltd purchased a new position in shares of ResMed during the second quarter worth about $148,000. Finally, Cerebellum GP LLC purchased a new position in shares of ResMed during the third quarter worth about $186,000. Hedge funds and other institutional investors own 64.32% of the company’s stock.
ResMed stock traded down $2.04 during midday trading on Tuesday, reaching $101.70. The stock had a trading volume of 751,345 shares, compared to its average volume of 698,200. ResMed has a 12 month low of $82.77 and a 12 month high of $116.64. The stock has a market capitalization of $15.24 billion, a P/E ratio of 28.81, a P/E/G ratio of 2.73 and a beta of 0.97. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.91 and a current ratio of 2.58.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 8th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Wednesday, November 7th. ResMed’s dividend payout ratio is presently 41.93%.
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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