Equities analysts predict that ResMed Inc. (NYSE:RMD) will report sales of $562.33 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for ResMed’s earnings. The lowest sales estimate is $555.20 million and the highest is $568.00 million. ResMed reported sales of $514.20 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.4%. The company is scheduled to report its next earnings report on Thursday, April 26th.
According to Zacks, analysts expect that ResMed will report full year sales of $562.33 million for the current fiscal year, with estimates ranging from $2.28 billion to $2.37 billion. For the next fiscal year, analysts forecast that the company will report sales of $2.52 billion per share, with estimates ranging from $2.44 billion to $2.63 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for ResMed.
ResMed (NYSE:RMD) last announced its quarterly earnings results on Monday, January 22nd. The medical equipment provider reported $1.00 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the firm posted $0.73 EPS. The firm’s quarterly revenue was up 13.4% on a year-over-year basis.
A number of research firms have recently commented on RMD. Zacks Investment Research raised ResMed from a “hold” rating to a “buy” rating and set a $112.00 price objective on the stock in a research note on Friday, February 2nd. Needham & Company LLC raised ResMed from an “underperform” rating to a “hold” rating in a research note on Tuesday, January 23rd. Northland Securities raised ResMed from an “under perform” rating to a “market perform” rating in a research note on Tuesday, January 23rd. Barclays boosted their price objective on ResMed from $68.00 to $70.00 and gave the stock an “underweight” rating in a research note on Friday, October 27th. Finally, BMO Capital Markets boosted their price objective on ResMed to $90.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 23rd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $76.00.
ResMed (NYSE:RMD) traded down $0.38 on Friday, hitting $93.81. The stock had a trading volume of 810,900 shares, compared to its average volume of 856,697. ResMed has a 12 month low of $67.04 and a 12 month high of $104.78. The company has a market cap of $13,407.99, a P/E ratio of 29.88 and a beta of 0.92.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, February 8th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Wednesday, February 7th. ResMed’s dividend payout ratio (DPR) is presently 70.00%.
In other news, Director Ronald R. Taylor sold 4,885 shares of the business’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $99.71, for a total transaction of $487,083.35. Following the sale, the director now directly owns 21,751 shares of the company’s stock, valued at $2,168,792.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brett Sandercock sold 1,250 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $85.36, for a total value of $106,700.00. Following the sale, the chief financial officer now directly owns 79,572 shares in the company, valued at $6,792,265.92. The disclosure for this sale can be found here. Insiders have sold 44,783 shares of company stock worth $4,420,848 over the last ninety days. 1.77% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in RMD. Renaissance Technologies LLC raised its position in shares of ResMed by 507.0% during the fourth quarter. Renaissance Technologies LLC now owns 282,234 shares of the medical equipment provider’s stock worth $23,980,000 after purchasing an additional 235,734 shares during the period. Guggenheim Capital LLC raised its position in shares of ResMed by 46.4% during the fourth quarter. Guggenheim Capital LLC now owns 722,480 shares of the medical equipment provider’s stock worth $61,184,000 after purchasing an additional 229,030 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of ResMed by 47.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 660,980 shares of the medical equipment provider’s stock worth $50,870,000 after purchasing an additional 214,122 shares during the period. Janus Henderson Group PLC raised its position in shares of ResMed by 1,205.7% during the second quarter. Janus Henderson Group PLC now owns 222,648 shares of the medical equipment provider’s stock worth $17,337,000 after purchasing an additional 205,596 shares during the period. Finally, Chevy Chase Trust Holdings Inc. acquired a new stake in shares of ResMed during the third quarter worth $9,562,000. 60.46% of the stock is currently owned by institutional investors.
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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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