ResMed Inc. (NYSE:RMD) – Equities research analysts at William Blair lifted their Q3 2019 EPS estimates for ResMed in a report released on Thursday, November 15th. William Blair analyst M. Kaczor now anticipates that the medical equipment provider will earn $0.96 per share for the quarter, up from their prior estimate of $0.94. William Blair also issued estimates for ResMed’s FY2019 earnings at $3.71 EPS, Q1 2020 earnings at $0.93 EPS, Q2 2020 earnings at $1.06 EPS, Q3 2020 earnings at $1.05 EPS, Q4 2020 earnings at $1.12 EPS and FY2020 earnings at $4.16 EPS.
A number of other analysts have also commented on the company. Zacks Investment Research lowered ResMed from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Credit Suisse Group upgraded ResMed from a “neutral” rating to an “outperform” rating in a report on Friday, October 26th. Finally, BMO Capital Markets boosted their price target on ResMed from $107.00 to $109.00 and gave the company a “market perform” rating in a report on Friday, October 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $114.50.
ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, October 25th. The medical equipment provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.01. The company had revenue of $588.28 million for the quarter, compared to analyst estimates of $576.66 million. ResMed had a return on equity of 26.29% and a net margin of 13.94%.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Thursday, November 8th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Wednesday, November 7th. ResMed’s dividend payout ratio (DPR) is presently 41.93%.
In other ResMed news, insider David Pendarvis sold 2,810 shares of the company’s stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $113.95, for a total transaction of $320,199.50. Following the completion of the sale, the insider now directly owns 107,061 shares in the company, valued at $12,199,600.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brett Sandercock sold 2,000 shares of the company’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $114.30, for a total value of $228,600.00. Following the sale, the chief financial officer now owns 73,232 shares of the company’s stock, valued at $8,370,417.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,420 shares of company stock valued at $1,252,935. 1.24% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley lifted its stake in ResMed by 30.2% during the second quarter. Morgan Stanley now owns 966,736 shares of the medical equipment provider’s stock worth $100,135,000 after purchasing an additional 223,963 shares during the last quarter. Motley Fool Asset Management LLC increased its holdings in shares of ResMed by 0.8% during the second quarter. Motley Fool Asset Management LLC now owns 202,522 shares of the medical equipment provider’s stock worth $20,977,000 after buying an additional 1,522 shares in the last quarter. Stephens Investment Management Group LLC increased its holdings in shares of ResMed by 1.0% during the second quarter. Stephens Investment Management Group LLC now owns 360,961 shares of the medical equipment provider’s stock worth $37,567,000 after buying an additional 3,463 shares in the last quarter. Motley Fool Wealth Management LLC increased its holdings in shares of ResMed by 1.7% during the second quarter. Motley Fool Wealth Management LLC now owns 181,025 shares of the medical equipment provider’s stock worth $18,751,000 after buying an additional 2,940 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of ResMed during the second quarter worth $290,000. Hedge funds and other institutional investors own 64.32% of the company’s stock.
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.
Further Reading: What is the yield curve?
Receive News & Ratings for ResMed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed and related companies with MarketBeat.com's FREE daily email newsletter.