ResMed (NYSE:RMD) Issues Quarterly Earnings Results

ResMed (NYSE:RMD) posted its quarterly earnings data on Thursday. The medical equipment provider reported $2.43 EPS for the quarter, beating 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 Price Performance

RMD opened at $257.63 on Friday. ResMed has a twelve month low of $170.56 and a twelve month high of $263.05. The firm has a market cap of $37.82 billion, a price-to-earnings ratio of 34.12, a PEG ratio of 1.83 and a beta of 0.70. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $240.32 and a 200 day simple moving average of $235.99.

Wall Street Analyst Weigh In

RMD has been the subject of a number of recent analyst reports. Piper Sandler began coverage on shares of ResMed in a report on Friday, January 10th. They issued a “neutral” rating and a $252.00 target price for the company. Robert W. Baird boosted their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. The Goldman Sachs Group initiated coverage on ResMed in a research report on Thursday, January 16th. They issued a “buy” rating on the stock. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday. Finally, KeyCorp raised their price objective on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $238.40.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $248.74, for a total value of $497,480.00. Following the completion of the transaction, the director now directly owns 83,204 shares in the company, valued at approximately $20,696,162.96. This trade represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Witte Jan De sold 796 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the sale, the director now directly owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,030 shares of company stock worth $2,702,687 in the last quarter. 0.71% of the stock is owned by corporate insiders.

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.