Zacks: Analysts Anticipate ResMed Inc. (NYSE:RMD) to Post $0.87 EPS

Equities research analysts expect ResMed Inc. (NYSE:RMD) to announce earnings per share of $0.87 for the current quarter, according to Zacks. Three analysts have made estimates for ResMed’s earnings, with the highest EPS estimate coming in at $0.98 and the lowest estimate coming in at $0.76. ResMed reported earnings per share of $0.81 during the same quarter last year, which would suggest a positive year over year growth rate of 7.4%. The firm is expected to announce its next quarterly earnings report after the market closes on Thursday, October 24th.

On average, analysts expect that ResMed will report full-year earnings of $3.92 per share for the current year, with EPS estimates ranging from $3.67 to $4.22. For the next year, analysts expect that the firm will post earnings of $4.29 per share, with EPS estimates ranging from $3.98 to $4.49. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for ResMed.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, July 25th. The medical equipment provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.03. ResMed had a net margin of 15.52% and a return on equity of 26.49%. The company had revenue of $705.00 million for the quarter, compared to analyst estimates of $701.56 million. During the same period in the prior year, the business posted $0.95 earnings per share. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year.

Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of ResMed from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a research report on Monday, July 8th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday. Goldman Sachs Group upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Monday, July 29th. ValuEngine lowered shares of ResMed from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, UBS Group upgraded shares of ResMed from a “neutral” rating to a “buy” rating and upped their target price for the stock from $122.00 to $140.00 in a research report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $121.50.

RMD traded down $4.00 on Tuesday, hitting $126.52. 538,887 shares of the company were exchanged, compared to its average volume of 744,949. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.43 and a current ratio of 2.06. The business’s fifty day moving average is $133.35 and its 200 day moving average is $122.37. ResMed has a fifty-two week low of $90.64 and a fifty-two week high of $141.25. The firm has a market capitalization of $18.86 billion, a P/E ratio of 34.76, a price-to-earnings-growth ratio of 3.16 and a beta of 0.41.

In other news, CEO Michael J. Farrell sold 6,651 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $132.35, for a total value of $880,259.85. Following the sale, the chief executive officer now directly owns 292,988 shares in the company, valued at $38,776,961.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Richard Mchale sold 12,306 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $127.06, for a total transaction of $1,563,600.36. Following the completion of the sale, the insider now owns 11,215 shares in the company, valued at $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 over the last 90 days. 1.22% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Westside Investment Management Inc. acquired a new stake in shares of ResMed in the second quarter valued at approximately $26,000. Squar Milner Financial Services LLC grew its position in shares of ResMed by 342.9% in the third quarter. Squar Milner Financial Services LLC now owns 217 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 168 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of ResMed in the second quarter valued at approximately $40,000. CSat Investment Advisory L.P. grew its position in shares of ResMed by 97.0% in the second quarter. CSat Investment Advisory L.P. now owns 388 shares of the medical equipment provider’s stock valued at $47,000 after purchasing an additional 191 shares during the last quarter. Finally, Ossiam acquired a new stake in shares of ResMed in the second quarter valued at approximately $54,000. Institutional investors and hedge funds own 66.37% of the company’s stock.

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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