Wall Street analysts forecast that ResMed Inc. (NYSE:RMD) will announce sales of $725.48 million for the current quarter, according to Zacks. Four analysts have made estimates for ResMed’s earnings, with the highest sales estimate coming in at $733.00 million and the lowest estimate coming in at $721.00 million. ResMed reported sales of $651.10 million during the same quarter last year, which would suggest a positive year over year growth rate of 11.4%. The company is scheduled to announce its next earnings results on Thursday, January 23rd.
According to Zacks, analysts expect that ResMed will report full-year sales of $2.89 billion for the current financial year, with estimates ranging from $2.87 billion to $2.91 billion. For the next year, analysts expect that the firm will report sales of $3.13 billion, with estimates ranging from $3.09 billion to $3.18 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for ResMed.
ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.87 by $0.06. The company had revenue of $681.06 million for the quarter, compared to analyst estimates of $660.87 million. ResMed had a return on equity of 26.72% and a net margin of 15.52%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 earnings per share.
In other news, COO Robert Andrew Douglas sold 3,307 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $131.63, for a total value of $435,300.41. Following the transaction, the chief operating officer now owns 48,721 shares of the company’s stock, valued at $6,413,145.23. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider James Hollingshead sold 1,600 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $149.89, for a total value of $239,824.00. Following the completion of the transaction, the insider now directly owns 95,974 shares in the company, valued at approximately $14,385,542.86. The disclosure for this sale can be found here. In the last three months, insiders sold 74,114 shares of company stock worth $10,440,768. Corporate insiders own 1.22% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. First Hawaiian Bank boosted its stake in shares of ResMed by 268.2% in the second quarter. First Hawaiian Bank now owns 2,493 shares of the medical equipment provider’s stock valued at $304,000 after buying an additional 1,816 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of ResMed by 2.8% in the second quarter. Commonwealth Equity Services LLC now owns 4,867 shares of the medical equipment provider’s stock valued at $593,000 after buying an additional 132 shares in the last quarter. Westside Investment Management Inc. purchased a new stake in shares of ResMed in the second quarter valued at approximately $26,000. Hartford Investment Management Co. boosted its stake in shares of ResMed by 0.6% in the second quarter. Hartford Investment Management Co. now owns 15,894 shares of the medical equipment provider’s stock valued at $1,940,000 after buying an additional 97 shares in the last quarter. Finally, BTIM Corp. boosted its stake in shares of ResMed by 0.3% in the second quarter. BTIM Corp. now owns 68,965 shares of the medical equipment provider’s stock valued at $8,416,000 after buying an additional 203 shares in the last quarter. 66.48% of the stock is currently owned by institutional investors and hedge funds.
RMD traded up $0.41 during trading on Monday, hitting $150.59. 307,253 shares of the stock were exchanged, compared to its average volume of 717,338. The firm has a market capitalization of $21.65 billion, a P/E ratio of 41.37, a PEG ratio of 2.86 and a beta of 0.41. ResMed has a 1-year low of $90.64 and a 1-year high of $151.60. The stock has a fifty day moving average price of $144.17 and a two-hundred day moving average price of $131.33. The company has a quick ratio of 1.46, a current ratio of 2.11 and a debt-to-equity ratio of 0.60.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Wednesday, November 6th. ResMed’s payout ratio is currently 42.86%.
ResMed Company Profile
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.
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