ResMed (NYSE:RMD) Posts Quarterly Earnings Results, Beats Expectations By $0.17 EPS

ResMed (NYSE:RMD) released its earnings results on Thursday. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17, Briefing.com reports. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the business earned $1.64 EPS. The business’s revenue was up 11.1% on a year-over-year basis.

ResMed Stock Up 7.1 %

Shares of NYSE RMD traded up $17.02 during mid-day trading on Friday, reaching $256.07. 3,516,490 shares of the company were exchanged, compared to its average volume of 1,046,026. The firm has a 50-day moving average of $240.22 and a 200 day moving average of $217.35. ResMed has a 1 year low of $132.24 and a 1 year high of $260.49. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. The stock has a market cap of $37.58 billion, a price-to-earnings ratio of 36.95, a P/E/G ratio of 1.94 and a beta of 0.69.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.83%. ResMed’s dividend payout ratio is presently 30.59%.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total value of $479,800.00. Following the transaction, the director now directly owns 87,204 shares of the company’s stock, valued at approximately $20,920,239.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Justin Leong sold 48,000 shares of ResMed stock in a transaction on Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the sale, the insider now directly owns 18,741 shares in the company, valued at approximately $4,068,108.87. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total value of $479,800.00. Following the completion of the transaction, the director now directly owns 87,204 shares in the company, valued at approximately $20,920,239.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 123,874 shares of company stock valued at $28,151,142. 0.71% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RMD shares. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Bank of America increased their price target on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. KeyCorp boosted their price objective on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday. Wolfe Research reiterated an “underperform” rating and issued a $180.00 target price on shares of ResMed in a research note on Wednesday, September 18th. Finally, Robert W. Baird boosted their target price on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $220.55.

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.