ResMed Inc. (NYSE:RMD) to Post FY2024 Earnings of $7.60 Per Share, Zacks Research Forecasts

ResMed Inc. (NYSE:RMD) – Analysts at Zacks Research increased their FY2024 earnings per share estimates for ResMed in a research note issued to investors on Thursday, June 27th. Zacks Research analyst R. Department now anticipates that the medical equipment provider will post earnings of $7.60 per share for the year, up from their previous estimate of $7.59. The consensus estimate for ResMed’s current full-year earnings is $7.70 per share. Zacks Research also issued estimates for ResMed’s Q4 2024 earnings at $1.95 EPS, Q1 2025 earnings at $1.97 EPS, Q2 2025 earnings at $2.11 EPS, Q3 2025 earnings at $2.15 EPS, FY2025 earnings at $8.28 EPS and FY2026 earnings at $8.98 EPS.

RMD has been the subject of a number of other research reports. Royal Bank of Canada upped their target price on ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. Oppenheimer downgraded ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Mizuho restated a “buy” rating and set a $215.00 target price on shares of ResMed in a report on Wednesday, March 27th. Needham & Company LLC restated a “buy” rating and set a $236.00 target price on shares of ResMed in a report on Monday, June 24th. Finally, Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.80.

ResMed Price Performance

Shares of ResMed stock opened at $186.93 on Monday. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. The company has a market cap of $27.46 billion, a PE ratio of 28.71, a P/E/G ratio of 1.88 and a beta of 0.66. The business has a 50 day moving average of $208.47 and a 200 day moving average of $191.40. ResMed has a 52 week low of $132.24 and a 52 week high of $229.97.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.22. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company posted $1.68 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 9th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.92 annualized dividend and a dividend yield of 1.03%. ResMed’s dividend payout ratio (DPR) is presently 29.49%.

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the sale, the chief executive officer now directly owns 440,752 shares of the company’s stock, valued at $95,422,808. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $216.50, for a total value of $3,178,869.50. Following the transaction, the chief executive officer now owns 440,752 shares of the company’s stock, valued at $95,422,808. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Karen Drexler sold 425 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $214.92, for a total value of $91,341.00. Following the completion of the transaction, the director now directly owns 8,446 shares in the company, valued at approximately $1,815,214.32. The disclosure for this sale can be found here. Insiders have sold 31,151 shares of company stock valued at $6,666,409 over the last ninety days. Insiders own 1.21% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RMD. Bank of New York Mellon Corp raised its stake in shares of ResMed by 230.3% in the first quarter. Bank of New York Mellon Corp now owns 3,813,119 shares of the medical equipment provider’s stock worth $755,112,000 after buying an additional 2,658,709 shares during the period. Norges Bank bought a new position in shares of ResMed in the fourth quarter worth about $233,966,000. Morgan Stanley raised its stake in shares of ResMed by 102.4% in the third quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock worth $344,481,000 after buying an additional 1,178,547 shares during the period. LGT Capital Partners LTD. bought a new position in shares of ResMed in the fourth quarter worth about $117,621,000. Finally, Los Angeles Capital Management LLC raised its stake in shares of ResMed by 3,599.0% in the first quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock worth $98,823,000 after buying an additional 485,540 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 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, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.