ResMed (NYSE:RMD) Posts Earnings Results, Beats Estimates By $0.22 EPS

ResMed (NYSE:RMD) posted its earnings results on Thursday. The medical equipment provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22, Briefing.com reports. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the business posted $1.68 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year.

ResMed Trading Down 0.2 %

Shares of RMD traded down $0.35 during trading hours on Thursday, reaching $183.43. 1,118,348 shares of the company traded hands, compared to its average volume of 1,015,205. The company’s fifty day moving average price is $186.30 and its two-hundred day moving average price is $171.39. The company has a market capitalization of $26.98 billion, a price-to-earnings ratio of 29.98, a price-to-earnings-growth ratio of 2.26 and a beta of 0.67. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27. ResMed has a 12 month low of $132.24 and a 12 month high of $243.52.

Insider Activity

In other news, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the transaction, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the transaction, the general counsel now directly owns 6,688 shares of the company’s stock, valued at $1,158,696. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the transaction, the director now directly owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,216 shares of company stock valued at $2,046,617. Corporate insiders own 1.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RMD shares. KeyCorp initiated coverage on shares of ResMed in a report on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 target price on the stock. Needham & Company LLC increased their price objective on shares of ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Oppenheimer increased their price objective on shares of ResMed from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. JPMorgan Chase & Co. increased their price objective on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Finally, Mizuho reiterated a “buy” rating and issued a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.20.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 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, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.