ResMed (NYSE:RMD) Issues Quarterly Earnings Results

ResMed (NYSE:RMD) released its quarterly earnings data on Thursday. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22, Briefing.com reports. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. ResMed had a return on equity of 24.92% and a net margin of 20.91%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.68 EPS.

ResMed Price Performance

ResMed stock opened at $218.06 on Friday. The stock has a market cap of $32.07 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 2.68 and a beta of 0.67. The firm has a 50-day moving average of $187.07 and a two-hundred day moving average of $172.12. ResMed has a 1 year low of $132.24 and a 1 year high of $243.52. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.11 and a quick ratio of 1.89.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 0.88%. The ex-dividend date is Wednesday, May 8th. ResMed’s dividend payout ratio is presently 29.49%.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the sale, the director now directly owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, General Counsel Michael J. Rider sold 200 shares of ResMed 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 transaction, the general counsel now directly owns 6,688 shares of the company’s stock, valued at $1,158,696. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the sale, the director now owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,216 shares of company stock valued at $2,046,617. Corporate insiders own 1.21% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on RMD. Oppenheimer reduced their price target on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday. Mizuho restated a “buy” rating and set a $215.00 target price on shares of ResMed in a research report on Wednesday, March 27th. KeyCorp lifted their price target on ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. upped their price objective on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research report on Tuesday, January 9th. Finally, UBS Group raised their price objective on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $202.80.

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.