$922.63 Million in Sales Expected for ResMed Inc. (NYSE:RMD) This Quarter

Wall Street analysts predict that ResMed Inc. (NYSE:RMD) will announce sales of $922.63 million for the current quarter, according to Zacks. Four analysts have made estimates for ResMed’s earnings, with the highest sales estimate coming in at $935.00 million and the lowest estimate coming in at $915.60 million. ResMed posted sales of $800.01 million in the same quarter last year, which suggests a positive year over year growth rate of 15.3%. The company is expected to issue its next earnings results on Thursday, January 27th.

On average, analysts expect that ResMed will report full-year sales of $3.76 billion for the current financial year, with estimates ranging from $3.69 billion to $3.87 billion. For the next fiscal year, analysts forecast that the business will report sales of $4.00 billion, with estimates ranging from $3.85 billion to $4.21 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for ResMed.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, October 28th. The medical equipment provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.16. The firm had revenue of $904.00 million during the quarter, compared to analysts’ expectations of $858.20 million. ResMed had a net margin of 14.92% and a return on equity of 28.46%. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.27 EPS.

RMD has been the subject of several analyst reports. Zacks Investment Research cut shares of ResMed from a “buy” rating to a “hold” rating and set a $306.00 price target for the company. in a research report on Tuesday, August 10th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Monday, August 9th. Jefferies Financial Group upgraded shares of ResMed from an “underperform” rating to a “hold” rating and lifted their price target for the stock from $170.00 to $240.00 in a research report on Wednesday, July 28th. CLSA upgraded shares of ResMed from an “underperform” rating to an “outperform” rating in a research report on Friday, October 22nd. Finally, Royal Bank of Canada lowered their price target on shares of ResMed from $233.00 to $227.00 and set an “underperform” rating for the company in a research report on Friday, October 29th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, ResMed has an average rating of “Hold” and an average target price of $252.13.

RMD traded up $0.64 during midday trading on Thursday, hitting $255.00. The company had a trading volume of 275,372 shares, compared to its average volume of 589,123. ResMed has a twelve month low of $179.37 and a twelve month high of $301.34. The firm’s 50-day simple moving average is $263.45 and its 200-day simple moving average is $254.57. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.73 and a current ratio of 2.54. The company has a market capitalization of $37.16 billion, a PE ratio of 74.78, a P/E/G ratio of 2.58 and a beta of 0.30.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 16th. Investors of record on Thursday, November 11th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.66%. The ex-dividend date is Tuesday, November 9th. ResMed’s payout ratio is 49.27%.

In other news, insider David Pendarvis sold 1,487 shares of ResMed stock in a transaction that occurred on Friday, September 3rd. The shares were sold at an average price of $292.16, for a total value of $434,441.92. Following the sale, the insider now directly owns 123,959 shares in the company, valued at $36,215,861.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James Hollingshead sold 2,400 shares of ResMed stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $287.30, for a total transaction of $689,520.00. Following the completion of the sale, the insider now owns 76,879 shares in the company, valued at $22,087,336.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,846 shares of company stock worth $12,350,399. Insiders own 1.42% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. MUFG Americas Holdings Corp acquired a new position in ResMed during the third quarter worth $26,000. D Orazio & Associates Inc. acquired a new position in ResMed during the third quarter worth $30,000. FFT Wealth Management LLC acquired a new position in ResMed during the second quarter worth $35,000. JJJ Advisors Inc. increased its holdings in ResMed by 32.9% during the third quarter. JJJ Advisors Inc. now owns 194 shares of the medical equipment provider’s stock worth $51,000 after buying an additional 48 shares during the last quarter. Finally, Twin Lakes Capital Management LLC acquired a new position in ResMed during the first quarter worth $39,000. Institutional investors and hedge funds own 65.19% of the company’s stock.

ResMed Company Profile

ResMed, Inc engages in providing digital health and cloud-connected medical devices. Its digital health technologies and cloud-connected medical devices transform care for people with sleep apnea, chronic obstructive pulmonary disease, or COPD, and other chronic diseases. The firm operates through the following segments: Sleep and Respiratory Care, and Software as a Service.

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Earnings History and Estimates for ResMed (NYSE:RMD)

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