$1.49 Earnings Per Share Expected for ResMed Inc. (NYSE:RMD) This Quarter

Brokerages expect that ResMed Inc. (NYSE:RMDGet Rating) will post $1.49 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for ResMed’s earnings, with the lowest EPS estimate coming in at $1.39 and the highest estimate coming in at $1.57. ResMed reported earnings of $1.35 per share during the same quarter last year, which would indicate a positive year over year growth rate of 10.4%. The firm is scheduled to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that ResMed will report full-year earnings of $5.73 per share for the current financial year, with EPS estimates ranging from $5.63 to $5.86. For the next fiscal year, analysts forecast that the business will post earnings of $6.64 per share, with EPS estimates ranging from $6.41 to $6.89. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that cover ResMed.

ResMed (NYSE:RMDGet Rating) last posted its earnings results on Thursday, April 28th. The medical equipment provider reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.12). ResMed had a return on equity of 26.91% and a net margin of 22.02%. The business had revenue of $864.50 million for the quarter, compared to the consensus estimate of $900.03 million. During the same period in the previous year, the company posted $1.30 earnings per share. ResMed’s revenue for the quarter was up 12.4% compared to the same quarter last year.

A number of research firms recently issued reports on RMD. Royal Bank of Canada raised ResMed from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $233.00 to $244.00 in a research note on Monday. Wolfe Research initiated coverage on ResMed in a research note on Tuesday, April 5th. They set an “outperform” rating and a $280.00 target price for the company. Finally, StockNews.com cut shares of ResMed from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ResMed has an average rating of “Buy” and an average target price of $267.44.

In other news, COO Robert Andrew Douglas sold 8,000 shares of the stock in a transaction that occurred on Tuesday, March 15th. The stock was sold at an average price of $238.07, for a total value of $1,904,560.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brett Sandercock sold 2,500 shares of the firm’s stock in a transaction on Thursday, March 10th. The shares were sold at an average price of $241.29, for a total value of $603,225.00. The disclosure for this sale can be found here. In the last three months, insiders sold 41,115 shares of company stock valued at $9,434,328. 1.42% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. American Trust acquired a new stake in ResMed during the 1st quarter valued at $740,000. Bank of America Corp DE lifted its holdings in shares of ResMed by 15.7% during the first quarter. Bank of America Corp DE now owns 237,529 shares of the medical equipment provider’s stock worth $57,603,000 after buying an additional 32,226 shares in the last quarter. Verition Fund Management LLC acquired a new stake in shares of ResMed during the first quarter worth $326,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of ResMed by 20.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,242 shares of the medical equipment provider’s stock worth $5,393,000 after buying an additional 3,768 shares in the last quarter. Finally, Kestra Private Wealth Services LLC lifted its holdings in shares of ResMed by 31.0% during the first quarter. Kestra Private Wealth Services LLC now owns 4,865 shares of the medical equipment provider’s stock worth $1,180,000 after buying an additional 1,150 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

NYSE RMD traded down $2.23 during trading hours on Wednesday, reaching $212.27. 339,259 shares of the company’s stock were exchanged, compared to its average volume of 586,206. The company’s 50-day moving average is $216.65 and its two-hundred day moving average is $236.55. ResMed has a one year low of $189.40 and a one year high of $301.34. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.56 and a current ratio of 2.55. The company has a market capitalization of $31.05 billion, a price-to-earnings ratio of 39.98, a price-to-earnings-growth ratio of 2.34 and a beta of 0.45.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 16th. Stockholders of record on Thursday, May 12th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Wednesday, May 11th. ResMed’s payout ratio is presently 31.64%.

ResMed Company Profile (Get Rating)

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 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.

Further Reading

Get a free copy of the Zacks research report on ResMed (RMD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for ResMed (NYSE:RMD)

Want More Great Investing Ideas?

Receive News & Ratings for ResMed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed and related companies with MarketBeat.com's FREE daily email newsletter.