ResMed (NYSE:RMD) Announces Earnings Results, Beats Expectations By $0.14 EPS

ResMed (NYSE:RMD) issued its quarterly earnings results on Thursday. The medical equipment provider reported $2.43 EPS for the quarter, topping 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 Stock Down 8.1 %

Shares of NYSE:RMD opened at $236.66 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The stock has a market cap of $34.74 billion, a price-to-earnings ratio of 31.35, a P/E/G ratio of 1.83 and a beta of 0.70. The company has a 50 day moving average of $240.17 and a 200-day moving average of $236.21. ResMed has a one year low of $170.56 and a one year high of $263.05.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. ResMed’s payout ratio is presently 25.03%.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the 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 sale, the director now directly owns 83,204 shares in the company, valued at $20,696,162.96. This represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Witte Jan De sold 796 shares of ResMed 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 transaction, the director now owns 6,723 shares in the company, valued at $1,672,749.63. This trade represents a 10.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,030 shares of company stock worth $2,702,687 over the last ninety days. Company insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RMD. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday. Robert W. Baird raised their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. KeyCorp lifted their price target on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday. Royal Bank of Canada increased their target price on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and a consensus price target of $244.73.

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.