ResMed (NYSE:RMD) Releases Quarterly Earnings Results, Beats Estimates By $0.17 EPS

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

ResMed Price Performance

Shares of RMD traded up $17.02 during trading hours on Friday, hitting $256.07. 3,516,490 shares of the stock were exchanged, compared to its average volume of 1,046,026. The stock’s 50-day moving average price is $240.22 and its two-hundred day moving average price is $217.35. ResMed has a 12-month low of $132.24 and a 12-month high of $260.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. The company has a market cap of $37.58 billion, a price-to-earnings ratio of 36.95, a price-to-earnings-growth ratio of 1.94 and a beta of 0.69.

ResMed Announces Dividend

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

Insider Buying and Selling at ResMed

In related news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $214.25, for a total transaction of $3,145,832.75. Following the transaction, the chief executive officer now directly owns 440,799 shares in the company, valued at approximately $94,441,185.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Justin Leong sold 48,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the sale, the insider now owns 18,741 shares of the company’s stock, valued at $4,068,108.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $214.25, for a total transaction of $3,145,832.75. Following the sale, the chief executive officer now directly owns 440,799 shares in the company, valued at approximately $94,441,185.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 123,874 shares of company stock worth $28,151,142. Corporate insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

RMD has been the topic of several recent research reports. Robert W. Baird upped their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. KeyCorp lifted their price objective on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday. Wolfe Research reissued an “underperform” rating and set a $180.00 target price on shares of ResMed in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada lifted their price target on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday. One analyst has rated the stock with a sell rating, five have assigned 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.com, the company currently 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.