ResMed (NYSE:RMD) Issues Quarterly Earnings Results, Beats Estimates By $0.14 EPS

ResMed (NYSE:RMD) issued its quarterly earnings results on Thursday. The medical equipment provider reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.14, Zacks reports. ResMed had a return on equity of 25.53% and a net margin of 23.15%.

ResMed Stock Performance

NYSE RMD opened at $236.66 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The stock’s 50 day simple moving average is $240.17 and its 200-day simple moving average is $236.21. The company has a market cap of $34.74 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 1.83 and a beta of 0.70. ResMed has a 1-year low of $170.56 and a 1-year high of $263.05.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.90%. ResMed’s dividend payout ratio (DPR) is currently 25.03%.

Analysts Set New Price Targets

Several research firms have recently commented on RMD. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday. KeyCorp raised their price target on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday. Robert W. Baird upped their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. boosted their target price on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $244.73.

Insider Activity at ResMed

In related news, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the sale, the insider now owns 21,718 shares in the company, valued at approximately $5,279,428.62. This trade represents a 22.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the transaction, the director now owns 81,218 shares of the company’s stock, valued at $19,951,201.70. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,030 shares of company stock valued at $2,702,687. 0.71% of the stock is owned by insiders.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.