ResMed (NYSE:RMD) Announces Quarterly Earnings Results, Misses Estimates By $0.12 EPS

ResMed (NYSE:RMDGet Rating) released its quarterly earnings results on Thursday. The medical equipment provider reported $1.32 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.12), MarketWatch Earnings reports. The company had revenue of $864.50 million for the quarter, compared to analyst estimates of $900.03 million. ResMed had a return on equity of 28.12% and a net margin of 15.16%. The business’s revenue was up 12.4% on a year-over-year basis. During the same period last year, the firm posted $1.30 earnings per share.

Shares of NYSE RMD traded down $1.21 during trading on Thursday, reaching $213.51. The stock had a trading volume of 873,962 shares, compared to its average volume of 582,098. ResMed has a one year low of $187.09 and a one year high of $301.34. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.54 and a current ratio of 2.49. The stock has a market cap of $31.22 billion, a PE ratio of 60.14, a P/E/G ratio of 2.41 and a beta of 0.33. The firm’s 50 day moving average price is $241.93 and its two-hundred day moving average price is $248.58.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 16th. Stockholders of record on Thursday, May 12th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.79%. ResMed’s dividend payout ratio (DPR) is 47.32%.

In related news, CFO Brett Sandercock sold 2,500 shares of the company’s stock in a transaction on Thursday, February 10th. The stock was sold at an average price of $241.86, for a total transaction of $604,650.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert Andrew Douglas sold 8,000 shares of the company’s stock in a transaction on Tuesday, March 15th. The stock was sold at an average price of $238.07, for a total value of $1,904,560.00. The disclosure for this sale can be found here. Insiders sold a total of 43,613 shares of company stock valued at $10,365,431 over the last quarter. Company insiders own 1.42% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of RMD. Parametric Portfolio Associates LLC boosted its position in ResMed by 2.5% during the 4th quarter. Parametric Portfolio Associates LLC now owns 458,278 shares of the medical equipment provider’s stock worth $119,372,000 after acquiring an additional 11,393 shares during the period. Deutsche Bank AG boosted its position in ResMed by 15.4% during the 4th quarter. Deutsche Bank AG now owns 430,450 shares of the medical equipment provider’s stock worth $112,123,000 after acquiring an additional 57,548 shares during the period. Wells Fargo & Company MN boosted its position in ResMed by 0.5% during the 4th quarter. Wells Fargo & Company MN now owns 305,093 shares of the medical equipment provider’s stock worth $79,471,000 after acquiring an additional 1,463 shares during the period. California State Teachers Retirement System boosted its position in ResMed by 1.5% during the 4th quarter. California State Teachers Retirement System now owns 257,083 shares of the medical equipment provider’s stock worth $66,965,000 after acquiring an additional 3,782 shares during the period. Finally, State of Tennessee Treasury Department boosted its position in ResMed by 87.1% during the 4th quarter. State of Tennessee Treasury Department now owns 46,009 shares of the medical equipment provider’s stock worth $11,985,000 after acquiring an additional 21,421 shares during the period. Hedge funds and other institutional investors own 63.75% of the company’s stock.

Several equities analysts recently commented on the company. The Goldman Sachs Group raised ResMed from a “neutral” rating to a “buy” rating in a research report on Sunday, January 30th. Robert W. Baird reduced their price target on ResMed from $300.00 to $280.00 in a research report on Friday, January 28th. Wolfe Research initiated coverage on ResMed in a report on Tuesday, April 5th. They set an “outperform” rating and a $280.00 price objective on the stock. Royal Bank of Canada upgraded ResMed from an “underperform” rating to a “sector perform” rating and lifted their price objective for the stock from $234.00 to $241.00 in a report on Friday, January 28th. Finally, JPMorgan Chase & Co. upgraded ResMed from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $260.00 to $270.00 in a report on Monday, January 24th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $267.11.

About ResMed (Get Rating)

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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.

See Also

Earnings History for ResMed (NYSE:RMD)

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