ResMed Inc. (NYSE:RMD) – Investment analysts at William Blair upped their Q1 2021 earnings estimates for ResMed in a research report issued on Monday, November 11th. William Blair analyst M. Kaczor now expects that the medical equipment provider will post earnings per share of $1.01 for the quarter, up from their previous forecast of $0.98. William Blair also issued estimates for ResMed’s Q2 2021 earnings at $1.11 EPS, Q3 2021 earnings at $1.13 EPS, Q4 2021 earnings at $1.21 EPS and FY2021 earnings at $4.46 EPS.
Other analysts also recently issued reports about the company. ValuEngine downgraded ResMed from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, October 25th. UBS Group raised ResMed from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $122.00 to $140.00 in a research note on Monday, July 29th. Finally, Goldman Sachs Group raised ResMed from a “neutral” rating to a “buy” rating in a research note on Monday, July 29th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $121.50.
ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.06. ResMed had a return on equity of 26.72% and a net margin of 15.52%. The business had revenue of $681.06 million for the quarter, compared to the consensus estimate of $660.87 million. During the same period in the prior year, the business earned $0.81 EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be given a $0.39 dividend. The ex-dividend date is Wednesday, November 6th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.07%. ResMed’s dividend payout ratio (DPR) is presently 42.86%.
In other ResMed news, insider Rajwant Sodhi sold 1,350 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $144.38, for a total transaction of $194,913.00. Also, Director Ronald R. Taylor sold 4,429 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $136.34, for a total value of $603,849.86. Following the sale, the director now owns 19,855 shares in the company, valued at approximately $2,707,030.70. The disclosure for this sale can be found here. Insiders sold 53,461 shares of company stock worth $7,259,600 in the last quarter. 1.22% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BTIM Corp. raised its position in ResMed by 0.3% during the second quarter. BTIM Corp. now owns 68,965 shares of the medical equipment provider’s stock valued at $8,416,000 after purchasing an additional 203 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in shares of ResMed by 4.3% during the second quarter. Asset Management One Co. Ltd. now owns 76,848 shares of the medical equipment provider’s stock valued at $9,377,000 after buying an additional 3,157 shares during the last quarter. Banco Santander S.A. bought a new position in shares of ResMed during the second quarter valued at about $3,237,000. Pacer Advisors Inc. grew its stake in shares of ResMed by 9.8% during the third quarter. Pacer Advisors Inc. now owns 16,966 shares of the medical equipment provider’s stock valued at $2,292,000 after buying an additional 1,516 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new position in shares of ResMed during the second quarter valued at about $617,000. Institutional investors and hedge funds own 66.53% 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.
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