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

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

ResMed Stock Up 7.1 %

NYSE:RMD opened at $256.07 on Friday. The stock has a 50-day simple moving average of $240.22 and a 200 day simple moving average of $217.35. ResMed has a 52-week low of $132.24 and a 52-week high of $260.49. The company has a market cap of $37.58 billion, a PE ratio of 36.95, a PEG ratio of 1.94 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59.

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 issued a $0.53 dividend. 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 30.59%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RMD shares. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Baird R W raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Bank of America increased their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Wolfe Research reissued an “underperform” rating and issued a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and a consensus target price of $220.55.

Insider Buying and Selling at ResMed

In other news, insider Kaushik Ghoshal sold 4,260 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at $5,196,002.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $212.16, for a total transaction of $212,160.00. Following the sale, the chief financial officer now owns 89,056 shares in the company, valued at approximately $18,894,120.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kaushik Ghoshal sold 4,260 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at $5,196,002.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 123,874 shares of company stock worth $28,151,142. Corporate insiders own 0.71% of the company’s stock.

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.