ResMed (RMD) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

ResMed (NYSE:RMD) posted its quarterly earnings data on Thursday. The medical equipment provider reported $0.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.01, Fidelity Earnings reports. ResMed had a net margin of 13.49% and a return on equity of 24.74%. The business had revenue of $588.28 million during the quarter, compared to analysts’ expectations of $576.66 million.

NYSE RMD traded up $5.60 during trading on Friday, hitting $104.10. 1,953,191 shares of the company’s stock were exchanged, compared to its average volume of 693,030. The company has a current ratio of 2.08, a quick ratio of 1.56 and a debt-to-equity ratio of 0.13. The company has a market cap of $14.64 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 2.62 and a beta of 0.87. ResMed has a fifty-two week low of $81.01 and a fifty-two week high of $116.64.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Thursday, November 8th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.42%. The ex-dividend date is Wednesday, November 7th. ResMed’s payout ratio is 41.93%.

RMD has been the subject of several research analyst reports. Zacks Investment Research raised ResMed from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Tuesday, July 10th. Goldman Sachs Group initiated coverage on ResMed in a research note on Sunday, July 1st. They set a “buy” rating for the company. BMO Capital Markets boosted their target price on ResMed from $107.00 to $109.00 and gave the stock a “market perform” rating in a research note on Friday. Finally, Credit Suisse Group raised ResMed from a “neutral” rating to an “outperform” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $85.40.

In other news, CFO Brett Sandercock sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $103.16, for a total value of $206,320.00. Following the completion of the transaction, the chief financial officer now owns 71,232 shares of the company’s stock, valued at $7,348,293.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James Hollingshead sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $105.93, for a total value of $63,558.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,420 shares of company stock valued at $1,468,482. Insiders own 1.24% of the company’s stock.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

Further Reading: How to invest in a bear market

Earnings History for ResMed (NYSE:RMD)

Receive News & Ratings for ResMed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed and related companies with's FREE daily email newsletter.

Leave a Reply