Wall Street analysts expect ResMed Inc. (NYSE:RMD) to report $702.43 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for ResMed's earnings, with the lowest sales estimate coming in at $667.30 million and the highest estimate coming in at $733.00 million. ResMed posted sales of $681.06 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.1%. The company is scheduled to announce its next quarterly earnings report on Thursday, October 22nd.
According to Zacks, analysts expect that ResMed will report full-year sales of $3.08 billion for the current year, with estimates ranging from $2.98 billion to $3.20 billion. For the next financial year, analysts anticipate that the company will post sales of $3.36 billion, with estimates ranging from $3.18 billion to $3.53 billion. Zacks Investment Research's sales calculations are an average based on a survey of sell-side research firms that cover ResMed.
ResMed (NYSE:RMD) last announced its quarterly earnings data on Wednesday, August 5th. The medical equipment provider reported $1.33 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.97 by $0.36. The firm had revenue of $770.30 million for the quarter, compared to the consensus estimate of $755.01 million. ResMed had a net margin of 21.02% and a return on equity of 30.34%. The company's revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm earned $0.95 EPS.
Several equities analysts recently weighed in on RMD shares. Oppenheimer raised their target price on shares of ResMed from $200.00 to $210.00 in a research note on Thursday, August 6th. Zacks Investment Research lowered shares of ResMed from a "buy" rating to a "hold" rating and set a $184.00 target price for the company. in a report on Tuesday, August 11th. Morgan Stanley lowered shares of ResMed from an "overweight" rating to an "equal weight" rating in a report on Thursday, August 6th. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a report on Thursday, August 6th. Finally, Bank of America lowered shares of ResMed from a "buy" rating to an "underperform" rating in a report on Monday, August 3rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company's stock. ResMed currently has a consensus rating of "Hold" and a consensus price target of $186.00.
In other news, COO Robert Andrew Douglas sold 1,026 shares of the stock in a transaction dated Wednesday, July 15th. The shares were sold at an average price of $196.98, for a total transaction of $202,101.48. Following the sale, the chief operating officer now owns 24,620 shares of the company's stock, valued at $4,849,647.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brett Sandercock sold 2,500 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $175.49, for a total transaction of $438,725.00. Following the sale, the chief financial officer now directly owns 86,775 shares in the company, valued at approximately $15,228,144.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,011 shares of company stock valued at $4,837,079. 1.22% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Globeflex Capital L P purchased a new position in shares of ResMed during the first quarter worth approximately $34,000. Balentine LLC acquired a new position in shares of ResMed during the 1st quarter worth $34,000. CX Institutional raised its stake in shares of ResMed by 37.7% during the 2nd quarter. CX Institutional now owns 241 shares of the medical equipment provider's stock worth $46,000 after buying an additional 66 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of ResMed by 286.5% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 286 shares of the medical equipment provider's stock worth $55,000 after buying an additional 212 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its stake in shares of ResMed by 52.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 292 shares of the medical equipment provider's stock worth $56,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 69.38% of the company's stock.
Shares of RMD stock opened at $168.70 on Thursday. The company has a market capitalization of $24.44 billion, a price-to-earnings ratio of 39.51, a PEG ratio of 2.62 and a beta of 0.36. ResMed has a one year low of $108.85 and a one year high of $208.99. The company's fifty day moving average price is $178.19 and its 200-day moving average price is $170.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.53 and a quick ratio of 1.84.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.92%. The ex-dividend date is Wednesday, August 19th. ResMed's dividend payout ratio (DPR) is presently 32.77%.
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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