ResMed (NYSE:RMD) Releases Quarterly Earnings Results, Beats Estimates By $0.22 EPS

ResMed (NYSE:RMD) posted its quarterly earnings data on Thursday. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22, Briefing.com reports. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. ResMed had a return on equity of 24.92% and a net margin of 20.91%. ResMed’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the company earned $1.68 earnings per share.

ResMed Price Performance

ResMed stock opened at $218.06 on Friday. The firm has a market cap of $32.07 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 2.26 and a beta of 0.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.11 and a quick ratio of 1.89. The stock’s fifty day moving average price is $187.07 and its two-hundred day moving average price is $171.97. ResMed has a one year low of $132.24 and a one year high of $243.52.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Wednesday, May 8th. ResMed’s dividend payout ratio is currently 29.49%.

Wall Street Analysts Forecast Growth

RMD has been the subject of several recent analyst reports. Needham & Company LLC raised their target price on shares of ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada raised their price target on ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a report on Friday. KeyCorp increased their price objective on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research report on Friday. Oppenheimer reduced their target price on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a report on Friday. Finally, Mizuho restated a “buy” rating and set a $215.00 price objective on shares of ResMed in a research report on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus target price of $202.80.

Insider Activity

In related news, General Counsel Michael J. Rider sold 200 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the transaction, the general counsel now owns 6,688 shares in the company, valued at $1,158,696. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the sale, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the transaction, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The disclosure for this sale can be found here. In the last three months, insiders sold 11,216 shares of company stock worth $2,046,617. 1.21% of the stock is currently owned by company insiders.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It operates in two segments, Sleep and Respiratory Care, and Software as a Service. 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, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.