ResMed (NYSE:RMD) Releases Earnings Results, Beats Expectations By $0.14 EPS

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

ResMed Stock Up 1.9 %

Shares of ResMed stock traded up $4.77 on Thursday, reaching $257.63. The stock had a trading volume of 1,806,363 shares, compared to its average volume of 880,448. The company has a 50 day moving average price of $240.04 and a 200 day moving average price of $235.84. The stock has a market capitalization of $37.82 billion, a P/E ratio of 34.12, a P/E/G ratio of 1.78 and a beta of 0.70. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. ResMed has a 1 year low of $170.56 and a 1 year high of $263.05.

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $248.74, for a total transaction of $497,480.00. Following the sale, the director now directly owns 83,204 shares of the company’s stock, valued at $20,696,162.96. This trade represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the transaction, the insider now directly owns 21,718 shares of the company’s stock, valued at $5,279,428.62. The trade was a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,099 shares of company stock valued at $2,719,385 in the last quarter. 0.71% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Piper Sandler started coverage on ResMed in a research report on Friday, January 10th. They issued a “neutral” rating and a $252.00 price objective on the stock. Royal Bank of Canada raised their target price on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Robert W. Baird raised their price objective on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. KeyCorp upped their price target on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Stifel Nicolaus started coverage on ResMed in a research report on Friday, December 13th. They issued a “hold” rating and a $250.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, ResMed currently has an average rating of “Moderate Buy” and a consensus target price of $238.40.

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.