ResMed (NYSE:RMD) Issues Earnings Results

ResMed (NYSE:RMDGet Rating) released its earnings results on Thursday. The medical equipment provider reported $1.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.44 by ($0.12), MarketWatch Earnings reports. ResMed had a net margin of 15.16% and a return on equity of 28.12%. The company had revenue of $864.50 million during the quarter, compared to analyst estimates of $900.03 million. During the same period in the previous year, the firm posted $1.30 EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis.

ResMed stock opened at $213.51 on Friday. ResMed has a fifty-two week low of $187.09 and a fifty-two week high of $301.34. The firm has a market capitalization of $31.22 billion, a price-to-earnings ratio of 60.14, a price-to-earnings-growth ratio of 2.41 and a beta of 0.33. The stock’s fifty day moving average is $241.93 and its two-hundred day moving average is $248.58. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.54 and a current ratio of 2.49.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 16th. Investors of record on Thursday, May 12th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.79%. ResMed’s dividend payout ratio is presently 47.32%.

In other news, COO Robert Andrew Douglas sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 15th. The shares were sold at an average price of $238.07, for a total transaction of $1,904,560.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Pendarvis sold 1,544 shares of ResMed stock in a transaction that occurred on Thursday, February 3rd. The stock was sold at an average price of $232.87, for a total value of $359,551.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,613 shares of company stock valued at $10,365,431. Company insiders own 1.42% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Titleist Asset Management LTD. purchased a new stake in shares of ResMed in the fourth quarter valued at $236,000. Cypress Capital Group raised its position in shares of ResMed by 13.2% in the fourth quarter. Cypress Capital Group now owns 983 shares of the medical equipment provider’s stock valued at $256,000 after buying an additional 115 shares during the last quarter. Horizon Investments LLC lifted its stake in shares of ResMed by 82.5% during the fourth quarter. Horizon Investments LLC now owns 1,810 shares of the medical equipment provider’s stock valued at $471,000 after buying an additional 818 shares during the period. Forum Financial Management LP acquired a new stake in ResMed during the fourth quarter worth approximately $479,000. Finally, Autumn Glory Partners LLC purchased a new stake in ResMed in the 4th quarter worth approximately $520,000. 63.75% of the stock is owned by institutional investors.

Several brokerages have issued reports on RMD. Royal Bank of Canada raised shares of ResMed from an “underperform” rating to a “sector perform” rating and boosted their price objective for the company from $234.00 to $241.00 in a research note on Friday, January 28th. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a report on Monday, January 31st. Bank of America raised ResMed from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $239.00 to $250.00 in a report on Monday, January 24th. StockNews.com started coverage on ResMed in a research note on Thursday, March 31st. They set a “buy” rating for the company. Finally, Wolfe Research initiated coverage on ResMed in a research note on Tuesday, April 5th. They issued an “outperform” rating and a $280.00 price target on the stock. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $267.11.

About ResMed (Get Rating)

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 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.

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Earnings History for ResMed (NYSE:RMD)

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