$657.20 Million in Sales Expected for ResMed Inc. (NYSE:RMD) This Quarter
Analysts forecast that ResMed Inc. (NYSE:RMD) will post sales of $657.20 million for the current quarter, Zacks reports. Three analysts have provided estimates for ResMed’s earnings, with the lowest sales estimate coming in at $646.70 million and the highest estimate coming in at $668.00 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 company is expected to issue its next quarterly earnings results 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 $2.80 billion to $2.90 billion. For the next fiscal year, analysts forecast that the business will post sales of $3.12 billion, with estimates ranging from $3.01 billion to $3.19 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover ResMed.
ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, July 25th. The medical equipment provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.03. ResMed had a net margin of 15.52% and a return on equity of 26.49%. The firm had revenue of $705.00 million for the quarter, compared to analysts’ expectations of $701.56 million. During the same period last year, the firm earned $0.95 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis.
In other ResMed news, insider Robert Andrew Douglas sold 4,070 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $131.12, for a total value of $533,658.40. Following the sale, the insider now directly owns 48,721 shares in the company, valued at $6,388,297.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael J. Farrell sold 6,651 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $118.16, for a total transaction of $785,882.16. Following the completion of the sale, the chief executive officer now owns 292,988 shares in the company, valued at $34,619,462.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 114,237 shares of company stock worth $13,737,550. Company insiders own 1.24% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Westside Investment Management Inc. acquired a new stake in shares of ResMed during the second quarter worth $26,000. Farmers & Merchants Investments Inc. raised its holdings in shares of ResMed by 49.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 295 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 97 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of ResMed during the second quarter worth $40,000. CSat Investment Advisory L.P. raised its holdings in shares of ResMed by 97.0% during the second quarter. CSat Investment Advisory L.P. now owns 388 shares of the medical equipment provider’s stock worth $47,000 after acquiring an additional 191 shares during the period. Finally, Ossiam acquired a new stake in shares of ResMed during the second quarter worth $54,000. Institutional investors own 66.54% of the company’s stock.
RMD stock traded up $2.11 during midday trading on Friday, reaching $134.44. The company’s stock had a trading volume of 569,000 shares, compared to its average volume of 571,213. ResMed has a 52 week low of $90.64 and a 52 week high of $135.45. The stock has a market cap of $18.84 billion, a PE ratio of 36.93, a price-to-earnings-growth ratio of 3.16 and a beta of 0.47. 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 business’s 50-day simple moving average is $126.66 and its 200-day simple moving average is $111.38.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th will be issued a $0.39 dividend. The ex-dividend date is Wednesday, August 14th. This is a positive change from ResMed’s previous quarterly dividend of $0.37. This represents a $1.56 annualized dividend and a yield of 1.16%. ResMed’s dividend payout ratio (DPR) is 42.86%.
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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