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

ResMed (NYSE:RMD) announced its quarterly earnings results on Thursday. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating 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

ResMed stock traded up $4.77 during mid-day trading on Thursday, reaching $257.63. The company’s stock had a trading volume of 1,806,363 shares, compared to its average volume of 880,448. The firm’s fifty day moving average price is $240.04 and its two-hundred day moving average price is $235.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. ResMed has a 12-month low of $170.56 and a 12-month high of $263.05. The company has a market capitalization of $37.82 billion, a P/E ratio of 34.12, a PEG ratio of 1.78 and a beta of 0.70.

Insider Transactions at ResMed

In other news, insider Justin Leong sold 6,160 shares of the firm’s 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 81,218 shares of the company’s stock, valued at approximately $19,951,201.70. This trade represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,099 shares of company stock valued at $2,719,385 over the last three months. Company insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on RMD. Royal Bank of Canada upped their target price on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Stifel Nicolaus assumed coverage on ResMed in a report on Friday, December 13th. They issued a “hold” rating and a $250.00 target price on the stock. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. KeyCorp upped their price objective on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Piper Sandler started coverage on ResMed in a research report on Friday, January 10th. They issued a “neutral” rating and a $252.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $238.40.

ResMed Company Profile

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.