ResMed (NYSE:RMD) Releases Earnings Results, Beats Estimates By $0.05 EPS

ResMed (NYSE:RMD) released its earnings results on Thursday. The medical equipment provider reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.05, Briefing.com reports. ResMed had a return on equity of 25.58% and a net margin of 21.79%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the business earned $1.60 earnings per share. ResMed’s quarterly revenue was up 6.9% compared to the same quarter last year.

ResMed Price Performance

Shares of NYSE RMD traded up $9.08 during trading hours on Friday, reaching $223.64. 2,659,791 shares of the stock traded hands, compared to its average volume of 925,655. The company’s 50-day simple moving average is $203.89 and its two-hundred day simple moving average is $196.28. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. ResMed has a 52-week low of $132.24 and a 52-week high of $225.68. The company has a market capitalization of $32.85 billion, a P/E ratio of 34.35, a price-to-earnings-growth ratio of 1.85 and a beta of 0.66.

ResMed Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.53 per share. This is an increase from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.12 annualized dividend and a dividend yield of 0.95%. ResMed’s dividend payout ratio is presently 29.49%.

Insider Transactions at ResMed

In other ResMed news, Director Witte Jan De sold 360 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total value of $78,584.40. Following the transaction, the director now owns 7,519 shares of the company’s stock, valued at $1,641,322.51. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $211.66, for a total transaction of $3,107,803.78. Following the completion of the sale, the chief executive officer now directly owns 440,799 shares of the company’s stock, valued at approximately $93,299,516.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Witte Jan De sold 360 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total value of $78,584.40. Following the transaction, the director now owns 7,519 shares in the company, valued at $1,641,322.51. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,409 shares of company stock worth $9,602,796. 1.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $236.00 target price on shares of ResMed in a research report on Friday. Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Royal Bank of Canada raised their price target on shares of ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a research report on Friday. Finally, KeyCorp boosted their price target on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.70.

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.