$922.63 Million in Sales Expected for ResMed Inc. (NYSE:RMD) This Quarter

Analysts predict that ResMed Inc. (NYSE:RMD) will announce $922.63 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for ResMed’s earnings, with the lowest sales estimate coming in at $915.60 million and the highest estimate coming in at $935.00 million. ResMed reported sales of $800.01 million during the same quarter last year, which would suggest a positive year over year growth rate of 15.3%. The business is scheduled to report its next quarterly earnings report on Thursday, January 27th.

According to Zacks, analysts expect that ResMed will report full year sales of $3.76 billion for the current financial year, with estimates ranging from $3.69 billion to $3.87 billion. For the next fiscal year, analysts expect that the firm will post sales of $4.00 billion, with estimates ranging from $3.85 billion to $4.21 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow ResMed.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, October 28th. The medical equipment provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.16. The firm had revenue of $904.00 million for the quarter, compared to analyst estimates of $858.20 million. ResMed had a net margin of 14.92% and a return on equity of 28.46%. ResMed’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.27 earnings per share.

Several research firms recently weighed in on RMD. Jefferies Financial Group upgraded shares of ResMed from an “underperform” rating to a “hold” rating and increased their price objective for the stock from $170.00 to $240.00 in a research note on Wednesday, July 28th. Royal Bank of Canada dropped their price objective on shares of ResMed from $233.00 to $227.00 and set an “underperform” rating on the stock in a research note on Friday, October 29th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Monday, August 9th. Zacks Investment Research lowered shares of ResMed from a “buy” rating to a “hold” rating and set a $306.00 price target on the stock. in a research note on Tuesday, August 10th. Finally, CLSA upgraded shares of ResMed from an “underperform” rating to an “outperform” rating in a research note on Friday, October 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $252.13.

RMD traded up $0.64 on Thursday, hitting $255.00. 275,372 shares of the company’s stock were exchanged, compared to its average volume of 589,123. The firm has a market cap of $37.16 billion, a PE ratio of 74.78, a P/E/G ratio of 2.58 and a beta of 0.30. ResMed has a twelve month low of $179.37 and a twelve month high of $301.34. The stock has a fifty day moving average of $263.45 and a two-hundred day moving average of $254.57. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.26.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 16th. Investors of record on Thursday, November 11th will be paid a dividend of $0.42 per share. The ex-dividend date is Tuesday, November 9th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.66%. ResMed’s dividend payout ratio is presently 49.27%.

In related news, insider David Pendarvis sold 1,487 shares of the firm’s stock in a transaction that occurred on Friday, September 3rd. The shares were sold at an average price of $292.16, for a total transaction of $434,441.92. Following the completion of the sale, the insider now directly owns 123,959 shares in the company, valued at $36,215,861.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carol Burt sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, November 22nd. The stock was sold at an average price of $260.00, for a total transaction of $390,000.00. The disclosure for this sale can be found here. Insiders have sold 45,846 shares of company stock worth $12,350,399 in the last quarter. Company insiders own 1.42% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. ST Germain D J Co. Inc. boosted its stake in ResMed by 0.3% in the 3rd quarter. ST Germain D J Co. Inc. now owns 14,637 shares of the medical equipment provider’s stock worth $3,858,000 after purchasing an additional 40 shares during the period. Horizon Investments LLC boosted its stake in ResMed by 4.2% in the 3rd quarter. Horizon Investments LLC now owns 992 shares of the medical equipment provider’s stock worth $261,000 after purchasing an additional 40 shares during the period. Parallel Advisors LLC boosted its stake in shares of ResMed by 2.7% during the 2nd quarter. Parallel Advisors LLC now owns 1,651 shares of the medical equipment provider’s stock valued at $407,000 after buying an additional 43 shares during the period. Allworth Financial LP boosted its stake in shares of ResMed by 18.8% during the 3rd quarter. Allworth Financial LP now owns 297 shares of the medical equipment provider’s stock valued at $78,000 after buying an additional 47 shares during the period. Finally, Clarius Group LLC boosted its stake in shares of ResMed by 4.3% during the 3rd quarter. Clarius Group LLC now owns 1,172 shares of the medical equipment provider’s stock valued at $309,000 after buying an additional 48 shares during the period. 65.19% of the stock is owned by hedge funds and other institutional investors.

About ResMed

ResMed, Inc engages in providing digital health and cloud-connected medical devices. Its digital health technologies and cloud-connected medical devices transform care for people with sleep apnea, chronic obstructive pulmonary disease, or COPD, and other chronic diseases. The firm operates through the following segments: Sleep and Respiratory Care, and Software as a Service.

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