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

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

ResMed Price Performance

Shares of NYSE:RMD opened at $218.06 on Friday. The stock 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 quick ratio of 1.89 and a current ratio of 3.11. The business’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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.92 annualized dividend and a yield of 0.88%. ResMed’s dividend payout ratio is presently 29.49%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group increased their price target on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. lifted their price objective on shares of ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Royal Bank of Canada lifted their target price on ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a report on Friday. Needham & Company LLC lifted their price target on shares of ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a research note on Friday. Finally, Mizuho reaffirmed a “buy” rating and set a $215.00 target price on shares of ResMed in a report on Wednesday, March 27th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $202.80.

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.