ResMed Inc. (NYSE:RMD) Forecasted to Post Q3 2024 Earnings of $1.87 Per Share

ResMed Inc. (NYSE:RMD) – Research analysts at Zacks Research raised their Q3 2024 earnings estimates for ResMed in a report released on Monday, April 8th. Zacks Research analyst R. Department now anticipates that the medical equipment provider will post earnings of $1.87 per share for the quarter, up from their previous forecast of $1.86. The consensus estimate for ResMed’s current full-year earnings is $7.45 per share. Zacks Research also issued estimates for ResMed’s FY2024 earnings at $7.29 EPS, Q2 2025 earnings at $2.06 EPS, Q4 2025 earnings at $2.02 EPS and Q3 2026 earnings at $2.21 EPS.

ResMed (NYSE:RMD) last released its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.07. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.66 earnings per share.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Oppenheimer increased their target price on shares of ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. UBS Group lifted their price objective on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. KeyCorp assumed coverage on shares of ResMed in a research report on Tuesday, February 6th. They set an “overweight” rating and a $227.00 price objective on the stock. Finally, Mizuho reissued a “buy” rating and issued a $215.00 target price on shares of ResMed in a report on Wednesday, March 27th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $199.20.

ResMed Price Performance

Shares of RMD opened at $189.51 on Wednesday. The company has a market capitalization of $27.88 billion, a P/E ratio of 31.32, a price-to-earnings-growth ratio of 2.32 and a beta of 0.67. The firm has a 50 day moving average of $187.01 and a 200 day moving average of $168.98. ResMed has a twelve month low of $132.24 and a twelve month high of $243.52. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 8th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Wednesday, February 7th. ResMed’s payout ratio is 31.74%.

Insiders Place Their Bets

In other news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now directly owns 6,688 shares of the company’s stock, valued at $1,158,696. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the transaction, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The disclosure for this sale can be found here. Insiders sold 11,216 shares of company stock valued at $2,046,617 over the last three months. 1.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On ResMed

A number of large investors have recently added to or reduced their stakes in the company. Ossiam raised its holdings in ResMed by 2.4% in the first quarter. Ossiam now owns 1,919 shares of the medical equipment provider’s stock worth $420,000 after purchasing an additional 45 shares in the last quarter. Ascent Group LLC grew its stake in shares of ResMed by 2.3% during the third quarter. Ascent Group LLC now owns 1,995 shares of the medical equipment provider’s stock worth $446,000 after acquiring an additional 45 shares during the last quarter. SeaCrest Wealth Management LLC grew its stake in shares of ResMed by 3.6% during the fourth quarter. SeaCrest Wealth Management LLC now owns 1,400 shares of the medical equipment provider’s stock worth $291,000 after acquiring an additional 48 shares during the last quarter. Capital Impact Advisors LLC grew its stake in shares of ResMed by 3.0% during the fourth quarter. Capital Impact Advisors LLC now owns 1,916 shares of the medical equipment provider’s stock worth $399,000 after acquiring an additional 56 shares during the last quarter. Finally, Dearborn Partners LLC grew its stake in shares of ResMed by 3.8% during the third quarter. Dearborn Partners LLC now owns 1,577 shares of the medical equipment provider’s stock worth $344,000 after acquiring an additional 57 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

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.