ResMed (NYSE:RMD) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

ResMed (NYSE:RMD) announced its earnings results on Thursday. The medical equipment provider reported $2.08 EPS for the quarter, topping the consensus estimate of $2.03 by $0.05, Briefing.com reports. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.22 billion. ResMed had a return on equity of 25.58% and a net margin of 21.79%. ResMed’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.60 EPS.

ResMed Trading Up 4.2 %

Shares of ResMed stock traded up $9.08 on Friday, hitting $223.64. 2,659,791 shares of the company’s stock traded hands, compared to its average volume of 925,655. The firm’s 50-day moving average price is $203.89 and its two-hundred day moving average price is $196.47. The stock has a market capitalization of $32.85 billion, a PE ratio of 34.35, a price-to-earnings-growth ratio of 1.85 and a beta of 0.66. ResMed has a one year low of $132.24 and a one year high of $225.68. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.53 per share. This is a boost from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, August 15th. This represents a $2.12 annualized dividend and a dividend yield of 0.95%. ResMed’s payout ratio is presently 29.49%.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the completion of the sale, the chief executive officer now owns 440,752 shares in the company, valued at approximately $95,422,808. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total value of $3,178,869.50. Following the completion of the sale, the chief executive officer now owns 440,752 shares in the company, valued at approximately $95,422,808. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Witte Jan De sold 360 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total transaction of $78,584.40. Following the completion of the sale, the director now owns 7,519 shares of the company’s stock, valued at approximately $1,641,322.51. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,409 shares of company stock worth $9,602,796. Insiders own 1.21% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RMD. Oppenheimer downgraded ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Royal Bank of Canada boosted their price objective on shares of ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Friday. Citigroup cut shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Needham & Company LLC restated a “buy” rating and issued a $236.00 price objective on shares of ResMed in a research report on Friday. Finally, KeyCorp boosted their price objective on shares of ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research report on Friday. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus price target of $204.70.

About ResMed

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.