Equities analysts predict that ResMed Inc. (NYSE:RMD) will report $657.20 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for ResMed’s earnings. The highest sales estimate is $668.00 million and the lowest is $646.70 million. ResMed reported sales of $588.28 million during the same quarter last year, which would suggest a positive year over year growth rate of 11.7%. The business is expected to announce its next quarterly earnings results after the market closes on Thursday, October 24th.
On average, analysts expect that ResMed will report full year sales of $2.86 billion for the current year, with estimates ranging from $2.82 billion to $2.90 billion. For the next fiscal year, analysts forecast that the business will report sales of $3.11 billion, with estimates ranging from $3.04 billion to $3.19 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow ResMed.
ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, July 25th. The medical equipment provider reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.03. ResMed had a return on equity of 26.49% and a net margin of 15.52%. The company had revenue of $705.00 million for the quarter, compared to analysts’ expectations of $701.56 million. During the same period in the prior year, the firm earned $0.95 earnings per share. The firm’s revenue was up 13.1% compared to the same quarter last year.
NYSE:RMD opened at $131.16 on Thursday. The company has a quick ratio of 1.43, a current ratio of 2.06 and a debt-to-equity ratio of 0.61. The stock’s fifty day moving average is $134.23 and its two-hundred day moving average is $121.58. ResMed has a 52 week low of $90.64 and a 52 week high of $141.25. The stock has a market capitalization of $18.64 billion, a price-to-earnings ratio of 36.03, a price-to-earnings-growth ratio of 3.12 and a beta of 0.41.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.19%. This is a positive change from ResMed’s previous quarterly dividend of $0.37. ResMed’s dividend payout ratio is currently 42.86%.
In other news, CEO Michael J. Farrell sold 6,651 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $132.35, for a total transaction of $880,259.85. Following the sale, the chief executive officer now owns 292,988 shares of the company’s stock, valued at $38,776,961.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard Mchale sold 12,306 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $127.06, for a total value of $1,563,600.36. Following the sale, the insider now directly owns 11,215 shares in the company, valued at approximately $1,424,977.90. The disclosure for this sale can be found here. Insiders have sold 72,668 shares of company stock worth $9,581,078 in the last ninety days. Corporate insiders own 1.22% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in ResMed by 1.4% in the second quarter. Vanguard Group Inc. now owns 15,327,232 shares of the medical equipment provider’s stock valued at $1,870,382,000 after buying an additional 212,459 shares during the last quarter. WCM Investment Management LLC increased its holdings in ResMed by 2.2% in the second quarter. WCM Investment Management LLC now owns 7,215,810 shares of the medical equipment provider’s stock valued at $880,545,000 after buying an additional 156,013 shares during the last quarter. Baillie Gifford & Co. increased its holdings in ResMed by 0.6% in the second quarter. Baillie Gifford & Co. now owns 4,824,334 shares of the medical equipment provider’s stock valued at $588,714,000 after buying an additional 26,553 shares during the last quarter. Northern Trust Corp increased its holdings in ResMed by 1.9% in the second quarter. Northern Trust Corp now owns 1,992,027 shares of the medical equipment provider’s stock valued at $243,087,000 after buying an additional 37,217 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in ResMed by 208.2% in the second quarter. Invesco Ltd. now owns 1,955,124 shares of the medical equipment provider’s stock valued at $238,584,000 after buying an additional 1,320,770 shares during the last quarter. 66.46% of the stock is currently owned by hedge funds and other institutional investors.
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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