Brokerages Expect ResMed Inc. (RMD) Will Post Quarterly Sales of $576.66 Million
Brokerages expect that ResMed Inc. (NYSE:RMD) will report $576.66 million in sales for the current fiscal quarter, Zacks reports. Three 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 $573.00 million. ResMed reported sales of $523.66 million in the same quarter last year, which indicates a positive year-over-year growth rate of 10.1%. The business is scheduled to announce its next earnings results on Thursday, October 25th.
According to Zacks, analysts expect that ResMed will report full year sales of $2.56 billion for the current fiscal year, with estimates ranging from $2.50 billion to $2.59 billion. For the next financial year, analysts expect that the firm will report sales of $2.80 billion, with estimates ranging from $2.70 billion to $2.90 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side 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 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.95. The firm had revenue of $623.63 million during the quarter, compared to analysts’ expectations of $622.78 million. ResMed had a return on equity of 24.74% and a net margin of 13.49%. ResMed’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 earnings per share.
NYSE:RMD opened at $115.55 on Thursday. The firm has a market capitalization of $16.26 billion, a price-to-earnings ratio of 32.73, a price-to-earnings-growth ratio of 2.90 and a beta of 0.91. 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 $75.28 and a 1 year high of $116.54.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 20th. Shareholders of record on Thursday, August 16th were issued a $0.37 dividend. This is a positive change from ResMed’s previous quarterly dividend of $0.35. The ex-dividend date was Wednesday, August 15th. This represents a $1.48 annualized dividend and a yield of 1.28%. ResMed’s dividend payout ratio is 41.93%.
In other ResMed news, CFO Brett Sandercock sold 2,000 shares of the company’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $114.30, for a total value of $228,600.00. Following the sale, the chief financial officer now owns 73,232 shares of the company’s stock, valued at $8,370,417.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Hollingshead sold 600 shares of the company’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $105.93, for a total value of $63,558.00. The disclosure for this sale can be found here. Insiders sold 10,610 shares of company stock worth $1,152,134 in the last three months. 1.77% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. acquired a new stake in ResMed in the second quarter valued at $131,000. Qube Research & Technologies Ltd acquired a new stake in ResMed in the second quarter valued at $148,000. Cornerstone Wealth Management LLC acquired a new stake in ResMed in the second quarter valued at $167,000. Piedmont Investment Advisors LLC acquired a new stake in ResMed in the second quarter valued at $167,000. Finally, Zeke Capital Advisors LLC acquired a new stake in ResMed in the second quarter valued at $207,000. 63.76% of the stock is currently owned by institutional investors.
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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