ResMed Inc. (RMD) Releases Earnings Results, Beats Estimates By $0.02 EPS

ResMed Inc. (NYSE:RMD) posted its quarterly earnings data on Tuesday. The medical equipment provider reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.02, Bloomberg Earnings reports. ResMed had a net margin of 15.96% and a return on equity of 22.53%. The company had revenue of $556.69 million during the quarter, compared to the consensus estimate of $557.68 million. During the same period in the prior year, the business posted $0.74 EPS. The company’s quarterly revenue was up 7.3% on a year-over-year basis.

ResMed (NYSE RMD) traded up 0.47% on Tuesday, reaching $77.48. 1,017,605 shares of the company’s stock traded hands. The stock has a market cap of $10.99 billion, a price-to-earnings ratio of 33.98 and a beta of 0.84. ResMed has a 52-week low of $56.59 and a 52-week high of $79.63. The company’s 50 day moving average is $77.30 and its 200-day moving average is $71.87.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of ResMed from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. BidaskClub downgraded shares of ResMed from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Citigroup Inc. downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Friday, April 28th. Jefferies Group LLC reiterated a “sell” rating and issued a $56.00 target price on shares of ResMed in a research note on Friday, April 28th. Finally, William Blair reiterated an “outperform” rating on shares of ResMed in a research note on Thursday, April 13th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $64.50.

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In other ResMed news, insider James Hollingshead sold 7,140 shares of the business’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $77.43, for a total value of $552,850.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Brett Sandercock sold 1,250 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $71.02, for a total transaction of $88,775.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 179,011 shares of company stock worth $13,474,623. 1.97% of the stock is owned by corporate insiders.

About ResMed

ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.