ResMed (NYSE:RMD) Releases Earnings Results, Beats Expectations By $0.05 EPS

ResMed (NYSE:RMD) issued its quarterly earnings results on Thursday. The medical equipment provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05, Briefing.com reports. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.58%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.60 earnings per share.

ResMed Stock Up 4.2 %

Shares of NYSE RMD traded up $9.08 during trading on Friday, reaching $223.64. 2,659,791 shares of the stock were exchanged, compared to its average volume of 925,655. The company has a market capitalization of $32.85 billion, a price-to-earnings ratio of 34.35, a price-to-earnings-growth ratio of 1.85 and a beta of 0.66. The business’s 50-day moving average price is $203.89 and its 200 day moving average price is $196.28. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. ResMed has a twelve month low of $132.24 and a twelve month high of $225.68.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.53 per share. This is a boost from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, August 15th. ResMed’s payout ratio is presently 29.49%.

Insider Activity at ResMed

In related news, Director Witte Jan De sold 360 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total value of $78,584.40. Following the sale, the director now directly owns 7,519 shares of the company’s stock, valued at $1,641,322.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ResMed news, Director Witte Jan De sold 360 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total transaction of $78,584.40. Following the completion of the sale, the director now owns 7,519 shares in the company, valued at $1,641,322.51. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the sale, the chief executive officer now owns 440,752 shares of the company’s stock, valued at approximately $95,422,808. The disclosure for this sale can be found here. Insiders have sold 46,409 shares of company stock valued at $9,602,796 over the last ninety days. Corporate insiders own 1.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RMD. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Needham & Company LLC restated a “buy” rating and issued a $236.00 target price on shares of ResMed in a report on Friday. KeyCorp boosted their target price on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a report on Friday. Royal Bank of Canada boosted their target price on shares of ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a report on Friday. Finally, Citigroup downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $204.70.

About ResMed

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.