Zacks: Analysts Anticipate ResMed Inc. (RMD) to Announce $0.83 Earnings Per Share

Wall Street brokerages predict that ResMed Inc. (NYSE:RMD) will post earnings of $0.83 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for ResMed’s earnings, with the highest EPS estimate coming in at $0.91 and the lowest estimate coming in at $0.79. ResMed posted earnings of $0.71 per share during the same quarter last year, which would suggest a positive year over year growth rate of 16.9%. The firm is scheduled to issue its next earnings results after the market closes on Thursday, April 26th.

On average, analysts expect that ResMed will report full-year earnings of $3.35 per share for the current financial year, with EPS estimates ranging from $3.30 to $3.44. For the next financial year, analysts expect that the firm will post earnings of $3.49 per share, with EPS estimates ranging from $3.33 to $3.76. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that cover ResMed.

ResMed (NYSE:RMD) last announced its earnings results on Monday, January 22nd. The medical equipment provider reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.22. ResMed had a return on equity of 22.75% and a net margin of 12.98%. The company had revenue of $601.27 million during the quarter, compared to analyst estimates of $583.77 million. During the same period last year, the company posted $0.73 earnings per share. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year.



A number of brokerages have recently weighed in on RMD. Zacks Investment Research upgraded ResMed from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a research note on Monday. Citigroup lowered ResMed from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 4th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Wednesday, March 7th. ValuEngine upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Northland Securities upgraded ResMed from an “under perform” rating to a “market perform” rating in a research report on Tuesday, January 23rd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. ResMed currently has an average rating of “Hold” and a consensus target price of $74.83.

In other ResMed news, Director John P. Wareham sold 25,934 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $102.25, for a total transaction of $2,651,751.50. Following the transaction, the director now owns 38,934 shares in the company, valued at $3,981,001.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider James Hollingshead sold 600 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $94.01, for a total value of $56,406.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,889 shares of company stock valued at $4,497,666. Corporate insiders own 1.77% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of RMD. Sei Investments Co. boosted its holdings in ResMed by 413.4% during the third quarter. Sei Investments Co. now owns 17,691 shares of the medical equipment provider’s stock worth $1,361,000 after buying an additional 14,245 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in ResMed by 0.4% during the third quarter. New York State Common Retirement Fund now owns 430,328 shares of the medical equipment provider’s stock worth $33,118,000 after buying an additional 1,600 shares during the last quarter. TD Asset Management Inc. boosted its holdings in ResMed by 1,310.9% during the third quarter. TD Asset Management Inc. now owns 43,624 shares of the medical equipment provider’s stock worth $3,357,000 after buying an additional 40,532 shares during the last quarter. Nordea Investment Management AB boosted its holdings in ResMed by 45.6% during the third quarter. Nordea Investment Management AB now owns 6,125 shares of the medical equipment provider’s stock worth $471,000 after buying an additional 1,919 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in ResMed by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 156,728 shares of the medical equipment provider’s stock worth $11,928,000 after buying an additional 9,669 shares during the last quarter. Hedge funds and other institutional investors own 62.41% of the company’s stock.

Shares of NYSE:RMD traded up $0.35 during midday trading on Friday, reaching $98.85. The company’s stock had a trading volume of 725,550 shares, compared to its average volume of 709,651. ResMed has a fifty-two week low of $67.04 and a fifty-two week high of $104.78. The firm has a market cap of $13,783.89, a PE ratio of 35.05 and a beta of 0.90.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, February 8th were given a $0.35 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $1.40 dividend on an annualized basis and a yield of 1.42%. ResMed’s payout ratio is 49.65%.

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ResMed Company Profile

ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.

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Earnings History and Estimates for ResMed (NYSE:RMD)

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