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

ResMed (NYSE:RMD) released its quarterly earnings data 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 net margin of 23.15% and a return on equity of 25.53%.

ResMed Stock Performance

RMD opened at $257.63 on Friday. The business has a 50 day moving average price of $240.32 and a two-hundred day moving average price of $235.99. 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 company has a market capitalization of $37.82 billion, a price-to-earnings ratio of 34.12, 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.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $248.74, for a total transaction of $497,480.00. Following the completion of the transaction, the director now owns 83,204 shares in the company, valued at approximately $20,696,162.96. This trade represents a 2.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the sale, the insider now owns 21,718 shares in the company, valued at $5,279,428.62. The trade was a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,030 shares of company stock worth $2,702,687. 0.71% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RMD has been the topic of several recent research reports. Robert W. Baird raised their price target on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Stifel Nicolaus assumed coverage on ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 target price on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday. KeyCorp lifted their price objective on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $238.40.

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.