ResMed (NYSE:RMD) Issues Earnings Results, Beats Estimates By $0.22 EPS

ResMed (NYSE:RMD) released its quarterly earnings data on Thursday. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22, Briefing.com reports. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the firm posted $1.68 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year.

ResMed Stock Down 0.2 %

RMD stock traded down $0.35 during mid-day trading on Thursday, hitting $183.43. The stock had a trading volume of 1,118,348 shares, compared to its average volume of 1,015,205. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. ResMed has a 1-year low of $132.24 and a 1-year high of $243.52. The company has a fifty day moving average of $186.30 and a 200 day moving average of $171.39. The stock has a market capitalization of $26.98 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 2.26 and a beta of 0.67.

Insiders Place Their Bets

In other news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Michael J. Rider sold 200 shares of the firm’s stock in a transaction that occurred on 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. Insiders have sold a total of 11,216 shares of company stock valued at $2,046,617 in the last three months. Insiders own 1.21% of the company’s stock.

Analyst Ratings Changes

RMD has been the subject of a number of analyst reports. Needham & Company LLC boosted their price objective on ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, April 1st. JPMorgan Chase & Co. lifted their target price on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Mizuho reaffirmed a “buy” rating and set a $215.00 target price on shares of ResMed in a research note on Wednesday, March 27th. UBS Group lifted their target price on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Finally, Oppenheimer lifted their target price on ResMed from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $199.20.

ResMed Company Profile

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.