$572.32 Million in Sales Expected for ResMed Inc. (RMD) This Quarter
Equities research analysts expect ResMed Inc. (NYSE:RMD) to announce $572.32 million in sales for the current quarter, Zacks reports. Four analysts have made estimates for ResMed’s earnings, with estimates ranging from $559.30 million to $579.78 million. ResMed reported sales of $523.66 million during the same quarter last year, which would suggest a positive year over year growth rate of 9.3%. The company is expected to issue its next earnings report on Thursday, October 25th.
According to Zacks, analysts expect that ResMed will report full-year sales of $2.56 billion for the current financial year, with estimates ranging from $2.48 billion to $2.59 billion. For the next year, analysts expect that the company will post sales of $2.80 billion per share, with estimates ranging from $2.70 billion to $2.90 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for ResMed.
ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, August 2nd. The medical equipment provider reported $0.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.95. ResMed had a net margin of 13.49% and a return on equity of 24.74%. The business had revenue of $623.63 million during the quarter, compared to the consensus estimate of $622.78 million. During the same quarter last year, the firm posted $0.77 EPS. ResMed’s revenue was up 12.0% compared to the same quarter last year.
NYSE RMD opened at $111.65 on Monday. ResMed has a 12-month low of $75.28 and a 12-month high of $112.86. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.08 and a quick ratio of 1.56. The firm has a market capitalization of $15.89 billion, a P/E ratio of 31.63, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 20th. Shareholders of record on Thursday, August 16th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.33%. This is an increase from ResMed’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Wednesday, August 15th. ResMed’s payout ratio is currently 41.93%.
In other ResMed news, CFO Brett Sandercock sold 2,000 shares of ResMed stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $107.45, for a total transaction of $214,900.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider James Hollingshead sold 600 shares of the business’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $102.80, for a total transaction of $61,680.00. Following the completion of the transaction, the insider now directly owns 101,893 shares in the company, valued at $10,474,600.40. The disclosure for this sale can be found here. Insiders have sold a total of 10,610 shares of company stock worth $1,137,054 over the last ninety days. Insiders own 1.77% of the company’s stock.
Large investors have recently modified their holdings of the stock. Dupont Capital Management Corp purchased a new position in shares of ResMed in the 1st quarter worth about $121,000. Meeder Asset Management Inc. purchased a new position in shares of ResMed in the 2nd quarter worth about $131,000. Qube Research & Technologies Ltd purchased a new position in shares of ResMed in the 2nd quarter worth about $148,000. Piedmont Investment Advisors LLC purchased a new position in shares of ResMed in the 2nd quarter worth about $167,000. Finally, Frontier Investment Mgmt Co. purchased a new position in shares of ResMed in the 2nd quarter worth about $207,000. 63.79% of the stock is currently owned by institutional investors.
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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