Q3 2024 Earnings Forecast for ResMed Inc. Issued By Zacks Research (NYSE:RMD)

ResMed Inc. (NYSE:RMD) – Stock analysts at Zacks Research boosted their Q3 2024 earnings per share (EPS) estimates for shares of ResMed in a note issued to investors on Monday, November 6th. Zacks Research analyst R. Department now forecasts that the medical equipment provider will earn $1.78 per share for the quarter, up from their previous forecast of $1.77. The consensus estimate for ResMed’s current full-year earnings is $7.29 per share. Zacks Research also issued estimates for ResMed’s Q4 2024 earnings at $1.83 EPS, FY2024 earnings at $7.03 EPS, Q1 2025 earnings at $1.92 EPS, Q2 2025 earnings at $1.99 EPS, Q3 2025 earnings at $1.95 EPS, Q4 2025 earnings at $1.89 EPS, FY2025 earnings at $7.74 EPS and Q1 2026 earnings at $2.10 EPS.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.63 by $0.01. ResMed had a return on equity of 24.14% and a net margin of 20.72%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the company posted $1.51 EPS. The company’s quarterly revenue was up 16.0% on a year-over-year basis.

Several other research firms have also issued reports on RMD. Royal Bank of Canada lowered ResMed from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $273.00 to $202.00 in a research note on Thursday, October 12th. KeyCorp decreased their target price on ResMed from $280.00 to $260.00 and set an “overweight” rating on the stock in a research note on Friday, August 4th. Bank of America decreased their target price on ResMed from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Monday, September 18th. JPMorgan Chase & Co. raised ResMed from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $210.00 to $170.00 in a research note on Monday, October 9th. Finally, StockNews.com began coverage on ResMed in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.33.

ResMed Stock Performance

Shares of ResMed stock opened at $148.80 on Wednesday. ResMed has a 52 week low of $132.24 and a 52 week high of $243.52. The business’s fifty day simple moving average is $146.31 and its 200-day simple moving average is $188.65. The firm has a market cap of $21.89 billion, a PE ratio of 24.44, a price-to-earnings-growth ratio of 2.64 and a beta of 0.52. The company has a quick ratio of 1.75, a current ratio of 2.99 and a debt-to-equity ratio of 0.32.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 9th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.29%. ResMed’s payout ratio is currently 31.17%.

Insider Activity

In other news, COO Robert Andrew Douglas sold 1,500 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $181.01, for a total value of $271,515.00. Following the transaction, the chief operating officer now owns 250,526 shares in the company, valued at approximately $45,347,711.26. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Michael J. Farrell sold 5,675 shares of the company’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $140.70, for a total value of $798,472.50. Following the completion of the sale, the chief executive officer now directly owns 449,360 shares of the company’s stock, valued at approximately $63,224,952. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Robert Andrew Douglas sold 1,500 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $181.01, for a total value of $271,515.00. Following the completion of the sale, the chief operating officer now directly owns 250,526 shares of the company’s stock, valued at $45,347,711.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,575 shares of company stock worth $2,947,417. 1.21% of the stock is currently owned by insiders.

Institutional Trading of ResMed

A number of large investors have recently made changes to their positions in RMD. Cambridge Investment Research Advisors Inc. boosted its position in shares of ResMed by 15.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,050 shares of the medical equipment provider’s stock valued at $740,000 after purchasing an additional 414 shares during the period. Cibc World Market Inc. lifted its position in ResMed by 13.0% during the 1st quarter. Cibc World Market Inc. now owns 1,000 shares of the medical equipment provider’s stock worth $243,000 after acquiring an additional 115 shares during the period. Vontobel Holding Ltd. lifted its position in ResMed by 14.5% during the 1st quarter. Vontobel Holding Ltd. now owns 8,112 shares of the medical equipment provider’s stock worth $2,020,000 after acquiring an additional 1,025 shares during the period. Sei Investments Co. lifted its position in ResMed by 7.8% during the 1st quarter. Sei Investments Co. now owns 40,740 shares of the medical equipment provider’s stock worth $9,781,000 after acquiring an additional 2,955 shares during the period. Finally, Prudential PLC acquired a new stake in ResMed during the 1st quarter worth approximately $694,000. 63.79% of the stock is owned by institutional investors and hedge funds.

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.