Analysts Expect ResMed Inc. (NYSE:RMD) Will Announce Quarterly Sales of $1.04 Billion

Wall Street brokerages expect ResMed Inc. (NYSE:RMDGet Rating) to announce $1.04 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for ResMed’s earnings, with the highest sales estimate coming in at $1.06 billion and the lowest estimate coming in at $1.03 billion. ResMed posted sales of $876.10 million in the same quarter last year, which suggests a positive year over year growth rate of 18.7%. The firm is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that ResMed will report full-year sales of $3.73 billion for the current fiscal year, with estimates ranging from $3.65 billion to $3.78 billion. For the next financial year, analysts forecast that the firm will report sales of $4.15 billion, with estimates ranging from $4.02 billion to $4.29 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover ResMed.

ResMed (NYSE:RMDGet Rating) last released its quarterly earnings data on Thursday, April 28th. The medical equipment provider reported $1.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.44 by ($0.12). The firm had revenue of $864.50 million during the quarter, compared to analyst estimates of $900.03 million. ResMed had a net margin of 15.16% and a return on equity of 28.12%. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.30 EPS.

A number of research firms have weighed in on RMD. StockNews.com began coverage on shares of ResMed in a research report on Thursday, March 31st. They set a “buy” rating for the company. JPMorgan Chase & Co. raised shares of ResMed from a “neutral” rating to an “overweight” rating and increased their target price for the company from $260.00 to $270.00 in a research report on Monday, January 24th. Wolfe Research began coverage on shares of ResMed in a research report on Tuesday, April 5th. They set an “outperform” rating and a $280.00 target price for the company. Robert W. Baird cut their price target on ResMed from $300.00 to $280.00 in a report on Friday, January 28th. Finally, Bank of America upgraded ResMed from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $239.00 to $250.00 in a report on Monday, January 24th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $267.11.

In other news, CFO Brett Sandercock sold 2,500 shares of the firm’s stock in a transaction on Thursday, February 10th. The stock was sold at an average price of $241.86, for a total transaction of $604,650.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Pendarvis sold 1,544 shares of the firm’s stock in a transaction on Thursday, February 3rd. The shares were 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. Over the last ninety days, insiders have sold 43,613 shares of company stock valued at $10,365,431. Insiders own 1.42% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in RMD. Comprehensive Financial Consultants Institutional Inc. purchased a new stake in ResMed in the 4th quarter worth about $25,000. MUFG Americas Holdings Corp purchased a new stake in ResMed in the 3rd quarter worth about $26,000. Amplius Wealth Advisors LLC purchased a new stake in ResMed in the 4th quarter worth about $26,000. D Orazio & Associates Inc. purchased a new stake in ResMed in the 3rd quarter worth about $30,000. Finally, CVA Family Office LLC purchased a new stake in ResMed in the 4th quarter worth about $31,000. 63.75% of the stock is owned by institutional investors.

NYSE:RMD opened at $199.97 on Friday. The company has a market capitalization of $29.24 billion, a PE ratio of 56.33, a P/E/G ratio of 2.41 and a beta of 0.33. The company has a 50 day simple moving average of $241.29 and a two-hundred day simple moving average of $248.22. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.54 and a current ratio of 2.49. ResMed has a fifty-two week low of $187.09 and a fifty-two week high of $301.34.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 16th. Stockholders of record on Thursday, May 12th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Wednesday, May 11th. ResMed’s dividend payout ratio is presently 47.32%.

ResMed Company Profile (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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