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

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

ResMed Price Performance

Shares of NYSE:RMD traded up $17.02 on Friday, reaching $256.07. 3,249,394 shares of the company were exchanged, compared to its average volume of 1,044,736. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14. ResMed has a 1-year low of $132.24 and a 1-year high of $260.49. The firm 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. The company has a 50-day moving average of $240.22 and a 200-day moving average of $217.35.

ResMed Announces Dividend

The business 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 dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.83%. ResMed’s dividend payout ratio (DPR) is presently 30.59%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RMD. Robert W. Baird boosted their price objective on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday. Bank of America boosted their price objective on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. KeyCorp boosted their price objective on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday. Finally, Wolfe Research reiterated an “underperform” rating and issued a $180.00 price target on shares of ResMed in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.55.

Insider Transactions at ResMed

In related news, insider Kaushik Ghoshal sold 4,260 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $238.48, for a total value of $1,015,924.80. Following the sale, the insider now directly owns 21,788 shares of the company’s stock, valued at approximately $5,196,002.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Justin Leong sold 48,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kaushik Ghoshal sold 4,260 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the completion of the sale, the insider now directly owns 21,788 shares in the company, valued at approximately $5,196,002.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 123,874 shares of company stock valued at $28,151,142 in the last ninety days. 0.71% of the stock is currently owned by company 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.