Q1 2018 EPS Estimates for ResMed Inc. Reduced by Analyst (NYSE:RMD)
ResMed Inc. (NYSE:RMD) – Analysts at Jefferies Group dropped their Q1 2018 earnings per share (EPS) estimates for shares of ResMed in a research note issued to investors on Tuesday. Jefferies Group analyst A. Petrone now expects that the medical equipment provider will earn $0.63 per share for the quarter, down from their previous forecast of $0.64. Jefferies Group has a “Sell” rating and a $56.00 price objective on the stock. Jefferies Group also issued estimates for ResMed’s Q2 2018 earnings at $0.74 EPS, Q3 2018 earnings at $0.72 EPS, Q4 2018 earnings at $0.77 EPS, FY2018 earnings at $2.86 EPS, FY2019 earnings at $3.09 EPS and FY2020 earnings at $3.31 EPS.
ResMed (NYSE:RMD) last released its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.02. The company had revenue of $556.69 million for the quarter, compared to analyst estimates of $557.68 million. ResMed had a return on equity of 21.99% and a net margin of 16.56%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. TRADEMARK VIOLATION WARNING: This report was first posted by Daily Political and is the property of of Daily Political. If you are reading this report on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The original version of this report can be read at https://www.dailypolitical.com/2017/08/04/q1-2018-eps-estimates-for-resmed-inc-reduced-by-analyst-nysermd.html.
RMD has been the subject of a number of other research reports. Zacks Investment Research raised ResMed from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research report on Thursday, July 6th. Citigroup Inc. downgraded ResMed from a “buy” rating to a “neutral” rating in a research report on Friday, April 28th. Needham & Company LLC reaffirmed a “sell” rating on shares of ResMed in a research report on Wednesday. BMO Capital Markets reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, May 12th. Finally, Credit Suisse Group downgraded ResMed from an “outperform” rating to a “neutral” rating in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. ResMed has a consensus rating of “Hold” and a consensus price target of $65.63.
Shares of ResMed (RMD) traded up 1.97% during trading on Thursday, hitting $74.90. The stock had a trading volume of 924,840 shares. The company has a market cap of $10.64 billion, a PE ratio of 31.21 and a beta of 0.83. The stock’s 50 day moving average is $77.30 and its 200-day moving average is $71.87. ResMed has a 12-month low of $56.59 and a 12-month high of $79.63.
Hedge funds have recently made changes to their positions in the stock. Airain ltd purchased a new stake in shares of ResMed during the first quarter valued at $1,242,000. Dai Ichi Life Insurance Company Ltd purchased a new stake in shares of ResMed during the first quarter valued at $205,000. Geode Capital Management LLC raised its stake in shares of ResMed by 5.5% in the first quarter. Geode Capital Management LLC now owns 1,176,810 shares of the medical equipment provider’s stock valued at $84,667,000 after buying an additional 61,478 shares in the last quarter. Wealthsource Partners LLC raised its stake in shares of ResMed by 14.5% in the first quarter. Wealthsource Partners LLC now owns 8,230 shares of the medical equipment provider’s stock valued at $592,000 after buying an additional 1,045 shares in the last quarter. Finally, American Research & Management Co. raised its stake in shares of ResMed by 3.2% in the first quarter. American Research & Management Co. now owns 11,340 shares of the medical equipment provider’s stock valued at $816,000 after buying an additional 350 shares in the last quarter. 60.65% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Brett Sandercock sold 1,250 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $71.02, for a total value of $88,775.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider James Hollingshead sold 7,140 shares of the business’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $77.43, for a total value of $552,850.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 153,896 shares of company stock worth $11,753,799. 1.97% of the stock is currently owned by insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 17th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Tuesday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.33. ResMed’s payout ratio is currently 54.77%.
ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
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