Brokerages Anticipate ResMed Inc. (NYSE:RMD) to Announce $0.92 EPS

Equities research analysts expect ResMed Inc. (NYSE:RMD) to report earnings of $0.92 per share for the current quarter, Zacks reports. Four analysts have made estimates for ResMed’s earnings, with the lowest EPS estimate coming in at $0.88 and the highest estimate coming in at $0.97. ResMed posted earnings per share of $0.95 during the same quarter last year, which suggests a negative year-over-year growth rate of 3.2%. The company is scheduled to announce its next earnings results on Thursday, August 1st.

On average, analysts expect that ResMed will report full year earnings of $3.63 per share for the current year, with EPS estimates ranging from $3.43 to $3.96. For the next year, analysts forecast that the firm will post earnings of $3.89 per share, with EPS estimates ranging from $3.66 to $4.22. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for ResMed.

ResMed (NYSE:RMD) last released its earnings results on Thursday, May 2nd. The medical equipment provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.05. ResMed had a return on equity of 26.46% and a net margin of 17.65%. The firm had revenue of $662.23 million for the quarter, compared to the consensus estimate of $657.82 million. During the same period in the prior year, the firm earned $0.92 EPS. The firm’s revenue was up 11.9% on a year-over-year basis.

RMD has been the topic of several research reports. UBS Group raised ResMed from a “neutral” rating to a “buy” rating and upped their target price for the company from $109.00 to $119.00 in a research report on Monday, May 6th. ValuEngine downgraded ResMed from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Zacks Investment Research raised ResMed from a “sell” rating to a “buy” rating and set a $116.00 target price on the stock in a research report on Monday, April 1st. JPMorgan Chase & Co. raised shares of ResMed from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a report on Thursday, April 18th. Finally, Deutsche Bank raised shares of ResMed from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $112.50.

In other ResMed news, CEO Michael J. Farrell sold 6,651 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $100.82, for a total value of $670,553.82. Following the sale, the chief executive officer now directly owns 292,933 shares of the company’s stock, valued at $29,533,505.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert Andrew Douglas sold 4,285 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $102.29, for a total transaction of $438,312.65. Following the completion of the sale, the insider now directly owns 48,604 shares in the company, valued at $4,971,703.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,325 shares of company stock worth $11,387,378. 1.24% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of RMD. WCM Investment Management LLC purchased a new stake in shares of ResMed during the 4th quarter worth about $492,415,000. Norges Bank purchased a new stake in shares of ResMed during the 4th quarter worth about $140,077,000. BlackRock Inc. boosted its stake in shares of ResMed by 5.2% during the 4th quarter. BlackRock Inc. now owns 11,764,243 shares of the medical equipment provider’s stock worth $1,339,597,000 after acquiring an additional 583,831 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in shares of ResMed by 80.4% during the 1st quarter. OppenheimerFunds Inc. now owns 762,303 shares of the medical equipment provider’s stock worth $79,256,000 after acquiring an additional 339,632 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of ResMed by 16.4% during the 1st quarter. Northern Trust Corp now owns 1,954,810 shares of the medical equipment provider’s stock worth $203,242,000 after acquiring an additional 276,097 shares in the last quarter. 67.25% of the stock is currently owned by institutional investors and hedge funds.

NYSE RMD opened at $119.89 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.69 and a current ratio of 2.38. The firm has a fifty day moving average price of $115.50. ResMed has a 1 year low of $90.64 and a 1 year high of $123.33. The firm has a market cap of $17.22 billion, a P/E ratio of 33.96, a price-to-earnings-growth ratio of 3.12 and a beta of 0.43.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Wednesday, May 8th. ResMed’s payout ratio is 41.93%.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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