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

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

ResMed Stock Down 0.2 %

ResMed stock traded down $0.35 during midday trading on Thursday, hitting $183.43. 1,118,348 shares of the company’s stock were exchanged, compared to its average volume of 1,015,205. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11. ResMed has a 12 month low of $132.24 and a 12 month high of $243.52. The firm has a 50-day moving average of $186.30 and a two-hundred day moving average of $171.39. The company has a market cap of $26.98 billion, a PE ratio of 29.98, a P/E/G ratio of 2.26 and a beta of 0.67.

Analyst Ratings Changes

A number of research firms recently issued reports on RMD. Royal Bank of Canada upped their price target on shares of ResMed from $181.00 to $182.00 and gave the company a “sector perform” rating in a research note on Thursday, January 25th. UBS Group upped their price target on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. upped their price target on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Needham & Company LLC increased their target price on shares of ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Finally, KeyCorp started coverage on shares of ResMed in a research note on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 target price on the stock. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.20.

Insiders Place Their Bets

In other news, General Counsel Michael J. Rider sold 200 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the sale, the general counsel now directly owns 6,688 shares in the company, valued at approximately $1,158,696. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, General Counsel Michael J. Rider sold 200 shares of the 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 transaction, the general counsel now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the transaction, the director now directly owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The disclosure for this sale can be found here. Insiders have sold a total of 11,216 shares of company stock worth $2,046,617 in the last three months. Corporate insiders own 1.21% of the company’s stock.

About ResMed

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.