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

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

ResMed Stock Performance

ResMed stock traded down $0.35 during mid-day trading on Thursday, reaching $183.43. The company’s stock had a trading volume of 1,118,348 shares, compared to its average volume of 1,015,205. The firm has a market cap of $26.98 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 2.26 and a beta of 0.67. The business has a 50 day moving average price of $186.30 and a 200-day moving average price of $171.39. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. ResMed has a twelve month low of $132.24 and a twelve month high of $243.52.

Analyst Ratings Changes

Several equities research analysts recently issued reports on RMD shares. Needham & Company LLC raised their target price on shares of ResMed from $215.00 to $224.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. KeyCorp assumed coverage on shares of ResMed in a research note on Tuesday, February 6th. They set an “overweight” rating and a $227.00 price objective on the stock. JPMorgan Chase & Co. lifted their price target on shares of ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. Royal Bank of Canada lifted their price target on shares of ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 25th. Finally, Mizuho restated a “buy” rating and issued a $215.00 price target on shares of ResMed in a research note on Wednesday, March 27th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and an average price target of $199.20.

Insiders Place Their Bets

In other news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now directly owns 6,688 shares of the company’s stock, valued at $1,158,696. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction that occurred on Thursday, February 22nd. The stock was 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 in the company, valued at $28,751,414.64. The disclosure for this sale can be found here. Insiders sold a total of 11,216 shares of company stock valued at $2,046,617 over the last 90 days. 1.21% of the stock is owned by company insiders.

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.