Research Analysts Offer Predictions for ResMed Inc.’s Q3 2024 Earnings (NYSE:RMD)

ResMed Inc. (NYSE:RMD) – Equities researchers at Zacks Research boosted their Q3 2024 earnings per share (EPS) estimates for ResMed in a research note issued on Monday, April 8th. Zacks Research analyst R. Department now anticipates that the medical equipment provider will post earnings of $1.87 per share for the quarter, up from their prior estimate of $1.86. The consensus estimate for ResMed’s current full-year earnings is $7.45 per share. Zacks Research also issued estimates for ResMed’s FY2024 earnings at $7.29 EPS, Q2 2025 earnings at $2.06 EPS, Q4 2025 earnings at $2.02 EPS and Q3 2026 earnings at $2.21 EPS.

ResMed (NYSE:RMD) last released its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the firm posted $1.66 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis.

A number of other equities analysts have also commented on RMD. UBS Group raised their price objective on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Royal Bank of Canada upped their target price on ResMed from $181.00 to $182.00 and gave the company a “sector perform” rating in a report on Thursday, January 25th. Needham & Company LLC upped their price objective on ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a research note on Monday, April 1st. KeyCorp started coverage on ResMed in a research report on Tuesday, February 6th. They set an “overweight” rating and a $227.00 target price on the stock. Finally, Oppenheimer increased their price objective on ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $199.20.

ResMed Stock Performance

Shares of NYSE RMD opened at $193.83 on Wednesday. ResMed has a 52 week low of $132.24 and a 52 week high of $243.52. The stock has a market capitalization of $28.51 billion, a PE ratio of 32.04, a price-to-earnings-growth ratio of 2.32 and a beta of 0.67. The stock has a 50 day moving average price of $187.09 and a 200 day moving average price of $168.83. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11.

Hedge Funds Weigh In On ResMed

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. boosted its holdings in 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 last quarter. Cibc World Market Inc. lifted its holdings in shares of ResMed by 13.0% in 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 last quarter. Vontobel Holding Ltd. lifted its holdings in shares of ResMed by 14.5% in 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 last quarter. Sei Investments Co. lifted its holdings in shares of ResMed by 7.8% in 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 last quarter. Finally, Prudential PLC acquired a new position in shares of ResMed in the 1st quarter worth approximately $694,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the sale, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other ResMed news, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the transaction, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the transaction, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,216 shares of company stock worth $2,046,617. Company insiders own 1.21% of the company’s stock.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 8th were paid a $0.48 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $1.92 annualized dividend and a yield of 0.99%. ResMed’s dividend payout ratio (DPR) is 31.74%.

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.