ResMed Inc. (NYSE:RMD - Free Report) - Research analysts at Zacks Research raised their Q3 2024 earnings per share (EPS) estimates for ResMed in a report issued on Monday, April 8th. Zacks Research analyst R. Department now forecasts 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the company posted $1.66 earnings per share. ResMed's revenue for the quarter was up 12.5% on a year-over-year basis.
Several other analysts have also recently commented on RMD. JPMorgan Chase & Co. boosted their price target on ResMed from $160.00 to $195.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 9th. 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. Mizuho restated a "buy" rating and issued a $215.00 target price on shares of ResMed in a report on Wednesday, March 27th. Needham & Company LLC upped their target price on ResMed from $215.00 to $224.00 and gave the company a "buy" rating in a report on Monday, April 1st. Finally, KeyCorp initiated coverage on ResMed in a report on Tuesday, February 6th. They issued an "overweight" rating and a $227.00 target price for the company. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, ResMed presently has an average rating of "Moderate Buy" and an average price target of $199.20.
Check Out Our Latest Stock Analysis on ResMed
ResMed Stock Performance
NYSE:RMD traded down $0.44 during trading hours on Wednesday, reaching $193.83. The company had a trading volume of 915,275 shares, compared to its average volume of 991,863. ResMed has a 1-year low of $132.24 and a 1-year high of $243.52. The firm has a market cap of $28.51 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 2.32 and a beta of 0.67. The business's 50 day moving average price is $187.02 and its 200-day moving average price is $168.66. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.11 and a quick ratio of 1.89.
ResMed Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 8th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.99%. The ex-dividend date was Wednesday, February 7th. ResMed's payout ratio is 31.74%.
Insider Buying and Selling
In related news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the transaction, the director now owns 157,404 shares of the company's stock, valued at approximately $28,751,414.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the sale, the director now owns 157,404 shares of the company's stock, valued at approximately $28,751,414.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the sale, the general counsel now directly owns 6,688 shares in the company, valued at approximately $1,158,696. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,216 shares of company stock valued at $2,046,617. Corporate insiders own 1.21% of the company's stock.
Institutional Investors Weigh In On ResMed
A number of hedge funds have recently bought and sold shares of RMD. Norges Bank acquired a new stake in shares of ResMed during the 4th quarter worth about $233,966,000. Morgan Stanley raised its position in shares of ResMed by 102.4% during the 3rd quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider's stock worth $344,481,000 after acquiring an additional 1,178,547 shares in the last quarter. LGT Capital Partners LTD. acquired a new stake in shares of ResMed during the 4th quarter worth about $117,621,000. FIL Ltd raised its position in shares of ResMed by 245.9% during the 4th quarter. FIL Ltd now owns 840,030 shares of the medical equipment provider's stock worth $144,502,000 after acquiring an additional 597,165 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its position in shares of ResMed by 3,599.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider's stock worth $98,823,000 after acquiring an additional 485,540 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.
About ResMed
(
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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.
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