ResMed Inc. (NYSE:RMD) issued its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.66 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.66, Bloomberg Earnings reports. ResMed had a return on equity of 21.53% and a net margin of 16.58%. The company had revenue of $523.66 million for the quarter, compared to analyst estimates of $506.08 million. During the same quarter last year, the company posted $0.62 EPS. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year.
ResMed (NYSE:RMD) traded up $0.34 during trading hours on Friday, hitting $83.06. The company’s stock had a trading volume of 374,800 shares, compared to its average volume of 774,937. The stock has a market capitalization of $11,786.55, a P/E ratio of 28.94, a P/E/G ratio of 1.85 and a beta of 0.79. ResMed has a 12-month low of $57.45 and a 12-month high of $87.81. The company has a current ratio of 4.72, a quick ratio of 3.86 and a debt-to-equity ratio of 0.50.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 9th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $1.40 annualized dividend and a dividend yield of 1.69%. ResMed’s dividend payout ratio is currently 56.68%.
Several research firms recently weighed in on RMD. J P Morgan Chase & Co raised their price objective on ResMed from $72.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, October 30th. Zacks Investment Research raised ResMed from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Needham & Company LLC reaffirmed a “sell” rating on shares of ResMed in a report on Friday, September 8th. Northland Securities reaffirmed a “sell” rating and set a $55.00 target price on shares of ResMed in a report on Friday, October 27th. Finally, Barclays PLC lifted their price objective on ResMed from $68.00 to $70.00 and gave the stock an “underweight” rating in a research report on Friday, October 27th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $67.57.
In other ResMed news, CFO Brett Sandercock sold 1,250 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $77.56, for a total transaction of $96,950.00. Following the completion of the sale, the chief financial officer now directly owns 65,941 shares in the company, valued at $5,114,383.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Peter C. Farrell sold 20,000 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $83.53, for a total transaction of $1,670,600.00. Following the sale, the director now owns 314,800 shares of the company’s stock, valued at $26,295,244. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,842 shares of company stock worth $6,548,619. Company insiders own 1.77% of the company’s stock.
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ResMed Company Profile
ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
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