ResMed (NYSE:RMD) Posts Quarterly Earnings Results, Beats Estimates By $0.14 EPS

ResMed (NYSE:RMD) released its quarterly earnings data on Thursday. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14, Zacks reports. ResMed had a return on equity of 25.53% and a net margin of 23.15%.

ResMed Price Performance

Shares of RMD stock traded up $4.77 on Thursday, reaching $257.63. 1,807,963 shares of the company were exchanged, compared to its average volume of 880,448. The company has a market cap of $37.82 billion, a price-to-earnings ratio of 34.12, a P/E/G ratio of 1.78 and a beta of 0.70. ResMed has a 1 year low of $170.56 and a 1 year high of $263.05. The business has a 50-day moving average price of $240.04 and a 200 day moving average price of $235.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. KeyCorp increased their price target on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Piper Sandler assumed coverage on shares of ResMed in a report on Friday, January 10th. They issued a “neutral” rating and a $252.00 price target on the stock. Royal Bank of Canada lifted their price objective on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Finally, StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.40.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $248.74, for a total transaction of $497,480.00. Following the completion of the sale, the director now owns 83,204 shares in the company, valued at approximately $20,696,162.96. This represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Witte Jan De sold 796 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the transaction, the director now directly owns 6,723 shares in the company, valued at $1,672,749.63. This represents a 10.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,099 shares of company stock worth $2,719,385 over the last ninety days. Corporate insiders own 0.71% of the company’s stock.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.