Brokerages forecast that ResMed Inc. (NYSE:RMD) will post sales of $572.32 million for the current quarter, Zacks reports. Four analysts have provided estimates for ResMed’s earnings, with the highest sales estimate coming in at $579.78 million and the lowest estimate coming in at $559.30 million. ResMed reported sales of $523.66 million in the same quarter last year, which indicates a positive year over year growth rate of 9.3%. The business is scheduled to issue its next quarterly earnings report on Thursday, October 25th.

On average, analysts expect that ResMed will report full year sales of $2.56 billion for the current year, with estimates ranging from $2.48 billion to $2.59 billion. For the next financial 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 averages are a mean average based on a survey of sell-side research analysts that that provide coverage for ResMed.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, August 2nd. The medical equipment provider reported $0.95 EPS for the quarter, meeting the consensus estimate of $0.95. ResMed had a return on equity of 24.74% and a net margin of 13.49%. The company had revenue of $623.63 million for the quarter, compared to analyst estimates of $622.78 million. During the same period last year, the company posted $0.77 earnings per share. The firm’s revenue was up 12.0% compared to the same quarter last year.

Several research firms have commented on RMD. Zacks Investment Research raised ResMed from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research report on Tuesday, July 10th. Goldman Sachs Group began coverage on ResMed in a research report on Sunday, July 1st. They issued a “buy” rating on the stock. UBS Group lowered ResMed from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 24th. Finally, William Blair reaffirmed an “outperform” rating on shares of ResMed in a research report on Monday, April 16th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. ResMed has a consensus rating of “Hold” and an average target price of $77.33.

ResMed traded down $0.31, hitting $107.78, during mid-day trading on Tuesday, MarketBeat reports. The company had a trading volume of 536,522 shares, compared to its average volume of 747,887. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.08 and a quick ratio of 1.56. ResMed has a 1 year low of $72.44 and a 1 year high of $109.97. The firm has a market capitalization of $15.43 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 2.79 and a beta of 0.89.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 20th. Stockholders of record on Thursday, August 16th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.37%. This is a positive change 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 presently 39.66%.

In related news, Director Richard Sulpizio sold 28,403 shares of ResMed stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $102.78, for a total value of $2,919,260.34. Following the completion of the transaction, the director now directly owns 35,823 shares in the company, valued at $3,681,887.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brett Sandercock sold 2,000 shares of ResMed stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $101.52, for a total value of $203,040.00. Following the completion of the transaction, the chief financial officer now owns 69,072 shares of the company’s stock, valued at $7,012,189.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,823 shares of company stock worth $4,330,718. Corporate insiders own 1.77% of the company’s stock.

A number of large investors have recently bought and sold shares of RMD. Dupont Capital Management Corp acquired a new position in ResMed in the first quarter worth about $121,000. Meeder Asset Management Inc. acquired a new position in ResMed in the second quarter worth about $131,000. Cornerstone Wealth Management LLC acquired a new position in ResMed in the second quarter worth about $167,000. Piedmont Investment Advisors LLC acquired a new position in ResMed in the second quarter worth about $167,000. Finally, Zeke Capital Advisors LLC acquired a new position in ResMed in the second quarter worth about $207,000. Institutional investors and hedge funds own 62.45% 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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