ResMed Inc. (RMD) Expected to Announce Quarterly Sales of $700.60 Million

Brokerages forecast that ResMed Inc. (NYSE:RMD) will post $700.60 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for ResMed’s earnings, with the lowest sales estimate coming in at $697.29 million and the highest estimate coming in at $708.00 million. ResMed posted sales of $623.63 million in the same quarter last year, which suggests a positive year over year growth rate of 12.3%. The business is scheduled to issue its next earnings report on Thursday, August 1st.

On average, analysts expect that ResMed will report full-year sales of $2.60 billion for the current year, with estimates ranging from $2.59 billion to $2.62 billion. For the next year, analysts forecast that the business will report sales of $2.86 billion, with estimates ranging from $2.79 billion to $2.92 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover ResMed.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.05. ResMed had a return on equity of 26.46% and a net margin of 17.65%. The business had revenue of $662.23 million during the quarter, compared to the consensus estimate of $657.82 million. During the same quarter last year, the firm posted $0.92 EPS. The company’s quarterly revenue was up 11.9% on a year-over-year basis.

A number of research firms have recently commented on RMD. JPMorgan Chase & Co. cut ResMed from a “neutral” rating to an “underweight” rating and set a $99.60 target price for the company. in a research note on Friday, January 25th. Deutsche Bank cut ResMed from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. BMO Capital Markets reduced their target price on ResMed to $120.00 and set a “positive” rating for the company in a report on Monday, January 28th. ValuEngine lowered ResMed from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Finally, Goldman Sachs Group lowered ResMed from a “buy” rating to a “neutral” rating in a report on Friday, January 25th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. ResMed currently has a consensus rating of “Buy” and an average price target of $112.50.

In related news, insider James Hollingshead sold 1,600 shares of ResMed stock in a transaction on Friday, March 1st. The stock was sold at an average price of $102.80, for a total value of $164,480.00. Following the completion of the sale, the insider now owns 82,057 shares of the company’s stock, valued at $8,435,459.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Andrew Douglas sold 4,313 shares of ResMed stock in a transaction on Friday, February 15th. The stock was sold at an average price of $99.95, for a total value of $431,084.35. Following the completion of the sale, the insider now directly owns 41,728 shares of the company’s stock, valued at approximately $4,170,713.60. The disclosure for this sale can be found here. Insiders sold 76,669 shares of company stock valued at $7,929,258 in the last ninety days. 1.24% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of RMD. Commonwealth Bank of Australia grew its holdings in ResMed by 6.4% during the first quarter. Commonwealth Bank of Australia now owns 1,502 shares of the medical equipment provider’s stock valued at $154,000 after purchasing an additional 90 shares during the period. Farmers & Merchants Investments Inc. lifted its position in shares of ResMed by 49.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 295 shares of the medical equipment provider’s stock valued at $31,000 after acquiring an additional 97 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of ResMed by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 7,600 shares of the medical equipment provider’s stock valued at $790,000 after acquiring an additional 100 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of ResMed by 1.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 6,239 shares of the medical equipment provider’s stock valued at $710,000 after acquiring an additional 110 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of ResMed by 4.8% in the first quarter. Fifth Third Bancorp now owns 2,909 shares of the medical equipment provider’s stock valued at $302,000 after acquiring an additional 133 shares in the last quarter. 67.91% of the stock is owned by institutional investors.

Shares of RMD traded up $0.75 during midday trading on Friday, reaching $112.81. 23,663 shares of the stock were exchanged, compared to its average volume of 684,646. ResMed has a twelve month low of $90.64 and a twelve month high of $118.50. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.69 and a current ratio of 2.38. The company has a market capitalization of $15.90 billion, a P/E ratio of 32.00, a P/E/G ratio of 2.88 and a beta of 0.56.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Wednesday, May 8th. ResMed’s payout ratio is currently 41.93%.

ResMed Company Profile

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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Earnings History and Estimates for ResMed (NYSE:RMD)

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