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, beating 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 Price Performance

NYSE:RMD traded up $4.77 on Thursday, hitting $257.63. The company had a trading volume of 1,807,963 shares, compared to its average volume of 880,448. ResMed has a 52 week low of $170.56 and a 52 week high of $263.05. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $37.82 billion, a price-to-earnings ratio of 34.12, a PEG ratio of 1.78 and a beta of 0.70. The firm has a 50 day moving average of $240.04 and a two-hundred day moving average of $235.84.

Analyst Ratings Changes

A number of research firms recently weighed in on RMD. Stifel Nicolaus began coverage on ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 price target on the stock. The Goldman Sachs Group assumed coverage on shares of ResMed in a report on Thursday, January 16th. They set a “buy” rating for the company. KeyCorp boosted their price objective on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Finally, Piper Sandler started coverage on ResMed in a research note on Friday, January 10th. They set a “neutral” rating and a $252.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ResMed presently has an average rating of “Moderate Buy” and an average price target of $238.40.

Insiders Place Their Bets

In related news, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was 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 directly owns 21,718 shares of the company’s stock, valued at $5,279,428.62. The trade was a 22.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the transaction, the director now directly owns 81,218 shares in the company, 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. Over the last quarter, insiders have sold 11,099 shares of company stock valued at $2,719,385. 0.71% of the stock is currently 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.