$572.32 Million in Sales Expected for ResMed Inc. (RMD) This Quarter

Analysts expect that ResMed Inc. (NYSE:RMD) will report sales of $572.32 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for ResMed’s earnings. The lowest sales estimate is $559.30 million and the highest is $579.78 million. ResMed posted sales of $523.66 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.3%. The company is scheduled to report its next quarterly earnings report on Thursday, October 25th.

On average, analysts expect that ResMed will report full year sales of $2.56 billion for the current financial year, with estimates ranging from $2.48 billion to $2.59 billion. For the next year, analysts forecast that the company will post sales of $2.80 billion per share, with estimates ranging from $2.70 billion to $2.90 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover ResMed.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, August 2nd. The medical equipment provider reported $0.95 EPS for the quarter, hitting the consensus estimate of $0.95. The firm had revenue of $623.63 million for the quarter, compared to analyst estimates of $622.78 million. ResMed had a return on equity of 24.74% and a net margin of 13.49%. ResMed’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the company earned $0.77 earnings per share.

Several analysts recently commented on RMD shares. Zacks Investment Research raised ResMed from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Tuesday, July 10th. Goldman Sachs Group started coverage on ResMed in a report on Sunday, July 1st. They set a “buy” rating on the stock. William Blair reaffirmed an “outperform” rating on shares of ResMed in a report on Monday, April 16th. Finally, UBS Group lowered ResMed from a “buy” rating to a “neutral” rating in a report on Tuesday, April 24th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. ResMed presently has a consensus rating of “Hold” and an average price target of $77.33.

ResMed traded down $0.31, hitting $107.78, during midday trading on Tuesday, Marketbeat.com reports. 536,522 shares of the company were exchanged, compared to its average volume of 747,887. The firm has a market cap of $15.43 billion, a price-to-earnings ratio of 30.53, a price-to-earnings-growth ratio of 2.79 and a beta of 0.89. ResMed has a fifty-two week low of $72.44 and a fifty-two week high of $109.97. The company has a quick ratio of 1.56, a current ratio of 2.08 and a debt-to-equity ratio of 0.13.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 20th. Shareholders of record on Thursday, August 16th will be issued a $0.37 dividend. This is a positive change from ResMed’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Wednesday, August 15th. ResMed’s dividend payout ratio (DPR) is presently 39.66%.

In other ResMed news, CFO Brett Sandercock sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $101.52, for a total value of $203,040.00. Following the sale, the chief financial officer now directly owns 69,072 shares of the company’s stock, valued at $7,012,189.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider James Hollingshead sold 600 shares of the firm’s stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $102.80, for a total value of $61,680.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,823 shares of company stock worth $4,330,718. 1.77% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its stake in shares of ResMed by 0.4% in the first quarter. BlackRock Inc. now owns 11,187,425 shares of the medical equipment provider’s stock worth $1,101,627,000 after acquiring an additional 43,363 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of ResMed by 191.2% in the first quarter. JPMorgan Chase & Co. now owns 971,754 shares of the medical equipment provider’s stock worth $95,687,000 after acquiring an additional 638,038 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of ResMed by 12.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 813,087 shares of the medical equipment provider’s stock worth $84,220,000 after acquiring an additional 87,893 shares during the last quarter. Millennium Management LLC boosted its stake in shares of ResMed by 2,526.7% in the first quarter. Millennium Management LLC now owns 769,536 shares of the medical equipment provider’s stock worth $75,776,000 after acquiring an additional 740,239 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of ResMed by 3.9% in the second quarter. Swiss National Bank now owns 472,000 shares of the medical equipment provider’s stock worth $48,890,000 after acquiring an additional 17,600 shares during the last quarter. 62.45% of the stock is currently owned by institutional investors.

About ResMed

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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