Zacks: Analysts Anticipate ResMed Inc. (RMD) to Post $0.81 EPS

Wall Street brokerages predict that ResMed Inc. (NYSE:RMD) will report earnings of $0.81 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for ResMed’s earnings. The highest EPS estimate is $0.88 and the lowest is $0.73. ResMed reported earnings of $0.66 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 22.7%. The business is scheduled to report its next quarterly earnings report after the market closes on Thursday, October 25th.

According to Zacks, analysts expect that ResMed will report full year earnings of $3.70 per share for the current financial year, with EPS estimates ranging from $3.53 to $3.93. For the next financial year, analysts expect that the firm will post earnings of $4.18 per share, with EPS estimates ranging from $3.94 to $4.47. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow ResMed.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 2nd. The medical equipment provider reported $0.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.95. The business had revenue of $623.63 million during the quarter, compared to analyst estimates of $622.78 million. ResMed had a net margin of 13.49% and a return on equity of 24.74%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the business earned $0.77 EPS.

A number of research analysts recently issued reports on RMD shares. Goldman Sachs Group started coverage on shares of ResMed in a report on Sunday, July 1st. They issued a “buy” rating for the company. Zacks Investment Research upgraded shares of ResMed from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Tuesday, July 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $81.60.

NYSE RMD traded down $2.05 during trading hours on Friday, reaching $102.98. The company’s stock had a trading volume of 729,227 shares, compared to its average volume of 682,857. The firm has a market cap of $15.22 billion, a PE ratio of 29.78, a price-to-earnings-growth ratio of 2.72 and a beta of 0.87. ResMed has a 52 week low of $77.71 and a 52 week high of $116.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.08 and a quick ratio of 1.56.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 20th. Shareholders of record on Thursday, August 16th were issued a dividend of $0.37 per share. This is a positive change from ResMed’s previous quarterly dividend of $0.35. The ex-dividend date was Wednesday, August 15th. This represents a $1.48 annualized dividend and a yield of 1.44%. ResMed’s dividend payout ratio (DPR) is presently 41.93%.

In other ResMed news, CFO Brett Sandercock sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $103.16, for a total transaction of $206,320.00. Following the completion of the transaction, the chief financial officer now owns 71,232 shares in the company, valued at approximately $7,348,293.12. The transaction was disclosed in a document filed 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 Wednesday, August 1st. The stock was sold at an average price of $105.93, for a total transaction of $63,558.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,420 shares of company stock valued at $1,468,482. Company insiders own 1.24% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley raised its holdings in ResMed by 30.2% during the 2nd quarter. Morgan Stanley now owns 966,736 shares of the medical equipment provider’s stock worth $100,135,000 after purchasing an additional 223,963 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of ResMed by 12.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 813,087 shares of the medical equipment provider’s stock worth $84,220,000 after buying an additional 87,893 shares during the period. Millennium Management LLC grew its position in shares of ResMed by 2,526.7% during the 1st quarter. Millennium Management LLC now owns 769,536 shares of the medical equipment provider’s stock worth $75,776,000 after buying an additional 740,239 shares during the period. Swiss National Bank grew its position in shares of ResMed by 3.9% during the 2nd quarter. Swiss National Bank now owns 472,000 shares of the medical equipment provider’s stock worth $48,890,000 after buying an additional 17,600 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of ResMed by 6.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 452,439 shares of the medical equipment provider’s stock worth $46,864,000 after buying an additional 29,375 shares during the period. Hedge funds and other institutional investors own 63.91% of the company’s stock.

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.

Featured Article: What Is An Exchange-Traded Fund (ETF)?

Get a free copy of the Zacks research report on ResMed (RMD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for ResMed (NYSE:RMD)

Receive News & Ratings for ResMed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply