Brokerages Anticipate ResMed Inc. (NYSE:RMD) Will Post Earnings of $0.84 Per Share

Wall Street analysts expect ResMed Inc. (NYSE:RMD) to post earnings per share of $0.84 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for ResMed’s earnings, with the lowest EPS estimate coming in at $0.76 and the highest estimate coming in at $0.88. ResMed posted earnings of $0.81 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 3.7%. The company is scheduled to announce its next earnings report on Thursday, October 24th.

According to Zacks, analysts expect that ResMed will report full year earnings of $3.92 per share for the current year, with EPS estimates ranging from $3.64 to $4.22. For the next fiscal year, analysts anticipate that the firm will report earnings of $4.28 per share, with EPS estimates ranging from $3.98 to $4.49. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for ResMed.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, July 25th. The medical equipment provider reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.03. The business had revenue of $705.00 million for the quarter, compared to analyst estimates of $701.56 million. ResMed had a return on equity of 26.49% and a net margin of 15.52%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.95 EPS.

A number of analysts have recently weighed in on the company. Zacks Investment Research upgraded ResMed from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a research report on Monday, July 8th. ValuEngine upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. UBS Group upgraded ResMed from a “neutral” rating to a “buy” rating and upped their target price for the company from $122.00 to $140.00 in a research report on Monday, July 29th. Goldman Sachs Group upgraded ResMed from a “neutral” rating to a “buy” rating in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. upgraded ResMed from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a research report on Thursday, April 18th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $121.50.

In other news, CEO Michael J. Farrell sold 6,651 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $132.35, for a total transaction of $880,259.85. Following the completion of the transaction, the chief executive officer now owns 292,988 shares of the company’s stock, valued at approximately $38,776,961.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider David Pendarvis sold 4,367 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $128.56, for a total value of $561,421.52. Following the transaction, the insider now directly owns 122,250 shares of the company’s stock, valued at approximately $15,716,460. The disclosure for this sale can be found here. Insiders have sold a total of 110,167 shares of company stock valued at $13,203,891 in the last three months. 1.24% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. Altshuler Shaham Ltd increased its holdings in ResMed by 6.1% in the 2nd quarter. Altshuler Shaham Ltd now owns 1,539 shares of the medical equipment provider’s stock worth $642,000 after purchasing an additional 89 shares in the last quarter. Commonwealth Bank of Australia increased its holdings in ResMed by 6.4% in the 1st quarter. Commonwealth Bank of Australia now owns 1,502 shares of the medical equipment provider’s stock worth $154,000 after purchasing an additional 90 shares in the last quarter. Farmers & Merchants Investments Inc. increased its holdings in ResMed by 49.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 295 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 97 shares in the last quarter. Hartford Investment Management Co. increased its holdings in ResMed by 0.6% in the 2nd quarter. Hartford Investment Management Co. now owns 15,894 shares of the medical equipment provider’s stock worth $1,940,000 after purchasing an additional 97 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in ResMed by 1.3% in the 1st quarter. Louisiana State Employees Retirement System now owns 7,600 shares of the medical equipment provider’s stock worth $790,000 after purchasing an additional 100 shares in the last quarter. 66.54% of the stock is owned by institutional investors.

Shares of NYSE:RMD traded up $1.18 during trading on Thursday, reaching $132.33. 314,648 shares of the company traded hands, compared to its average volume of 819,539. The business’s 50 day moving average price is $126.12. The company has a market capitalization of $18.91 billion, a price-to-earnings ratio of 36.35, a PEG ratio of 3.17 and a beta of 0.47. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.06 and a quick ratio of 1.43. ResMed has a 52 week low of $90.64 and a 52 week high of $135.45.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.39 per share. The ex-dividend date is Wednesday, August 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.18%. This is a boost from ResMed’s previous quarterly dividend of $0.37. ResMed’s payout ratio is 40.66%.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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Earnings History and Estimates for ResMed (NYSE:RMD)

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