ResMed (NYSE:RMD) Posts Earnings Results, Beats Expectations By $0.17 EPS

ResMed (NYSE:RMD) released its quarterly earnings data on Thursday. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17, Briefing.com reports. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.64 earnings per share.

ResMed Trading Up 7.1 %

Shares of ResMed stock traded up $17.02 on Friday, reaching $256.07. The company had a trading volume of 3,249,394 shares, compared to its average volume of 1,044,736. The firm’s 50 day moving average price is $240.22 and its two-hundred day moving average price is $217.35. The firm has a market cap of $37.58 billion, a PE ratio of 36.95, a PEG ratio of 1.94 and a beta of 0.69. ResMed has a 52-week low of $132.24 and a 52-week high of $260.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is 30.59%.

Insider Activity

In related news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total value of $479,800.00. Following the completion of the transaction, the director now owns 87,204 shares in the company, valued at approximately $20,920,239.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total value of $479,800.00. Following the completion of the transaction, the director now owns 87,204 shares in the company, valued at approximately $20,920,239.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Michael J. Rider sold 882 shares of ResMed stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total transaction of $203,742.00. Following the completion of the transaction, the general counsel now owns 10,512 shares of the company’s stock, valued at $2,428,272. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 123,874 shares of company stock valued at $28,151,142. Company insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wolfe Research restated an “underperform” rating and set a $180.00 price target on shares of ResMed in a research report on Wednesday, September 18th. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Robert W. Baird raised their price target on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday. Finally, StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $220.55.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.