FY2024 EPS Estimates for ResMed Inc. Increased by Zacks Research (NYSE:RMD)

Posted by Defense World Staff on Jul 13th, 2023

ResMed Inc. (NYSE:RMD – Free Report) – Analysts at Zacks Research upped their FY2024 earnings per share estimates for shares of ResMed in a note issued to investors on Monday, July 10th. Zacks Research analyst M. Mondal now anticipates that the medical equipment provider will post earnings per share of $7.10 for the year, up from their prior estimate of $7.09. The consensus estimate for ResMed’s current full-year earnings is $6.50 per share. Zacks Research also issued estimates for ResMed’s Q4 2024 earnings at $1.80 EPS, Q4 2025 earnings at $2.02 EPS and FY2025 earnings at $7.94 EPS.

Other research analysts have also issued research reports about the stock. UBS Group initiated coverage on shares of ResMed in a research note on Monday, May 22nd. They set a “buy” rating and a $290.00 price target on the stock. StockNews.com downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, Mizuho assumed coverage on shares of ResMed in a report on Thursday, April 13th. They issued a “buy” rating and a $255.00 price objective for the company. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $263.43.

ResMed Price Performance

RMD opened at $216.88 on Wednesday. ResMed has a 1-year low of $202.04 and a 1-year high of $247.65. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.74 and a current ratio of 3.07. The company has a market capitalization of $31.87 billion, a P/E ratio of 36.95, a PEG ratio of 2.89 and a beta of 0.48. The company has a 50-day moving average of $220.03 and a 200-day moving average of $219.11.

ResMed (NYSE:RMD – Get Free Report) last posted its quarterly earnings results on Thursday, April 27th. The medical equipment provider reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.10. ResMed had a net margin of 21.49% and a return on equity of 25.82%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the company posted $1.32 earnings per share. The firm’s revenue for the quarter was up 29.2% on a year-over-year basis.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, May 11th were paid a $0.44 dividend. The ex-dividend date of this dividend was Wednesday, May 10th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.81%. ResMed’s payout ratio is 29.98%.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 5,675 shares of ResMed stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $224.23, for a total transaction of $1,272,505.25. Following the completion of the sale, the chief executive officer now directly owns 436,900 shares of the company’s stock, valued at approximately $97,966,087. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other ResMed news, COO Robert Andrew Douglas sold 1,500 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $216.27, for a total value of $324,405.00. Following the transaction, the chief operating officer now owns 253,526 shares of the company’s stock, valued at $54,830,068.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Farrell sold 5,675 shares of the business’s stock in a transaction on Monday, April 17th. The shares were sold at an average price of $224.23, for a total transaction of $1,272,505.25. Following the transaction, the chief executive officer now owns 436,900 shares in the company, valued at $97,966,087. The disclosure for this sale can be found here. Insiders have sold 30,976 shares of company stock worth $7,010,245 over the last quarter. 1.39% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ResMed

A number of hedge funds have recently modified their holdings of the stock. Ossiam boosted its position in ResMed by 2.4% during the first quarter. Ossiam now owns 1,919 shares of the medical equipment provider’s stock valued at $420,000 after acquiring an additional 45 shares during the last quarter. Ascent Group LLC increased its stake in shares of ResMed by 2.3% during the third quarter. Ascent Group LLC now owns 1,995 shares of the medical equipment provider’s stock valued at $446,000 after purchasing an additional 45 shares in the last quarter. SeaCrest Wealth Management LLC raised its position in shares of ResMed by 3.6% during the 4th quarter. SeaCrest Wealth Management LLC now owns 1,400 shares of the medical equipment provider’s stock valued at $291,000 after purchasing an additional 48 shares during the period. Kentucky Retirement Systems increased its holdings in shares of ResMed by 0.4% in the 4th quarter. Kentucky Retirement Systems now owns 11,512 shares of the medical equipment provider’s stock worth $2,396,000 after buying an additional 50 shares during the last quarter. Finally, Siemens Fonds Invest GmbH raised its holdings in shares of ResMed by 2.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 1,833 shares of the medical equipment provider’s stock valued at $382,000 after purchasing an additional 52 shares in the last quarter. 63.58% of the stock is owned by institutional investors and hedge funds.

About ResMed

(Get Free Report)

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 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.