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Brokers Offer Predictions for ResMed Inc.’s Q3 2024 Earnings (NYSE:RMD)

ResMed Inc. (NYSE:RMDFree Report) – Equities researchers at KeyCorp issued their Q3 2024 EPS estimates for shares of ResMed in a research note issued to investors on Monday, February 5th. KeyCorp analyst B. Fishbin forecasts that the medical equipment provider will post earnings of $1.89 per share for the quarter. KeyCorp currently has a “Overweight” rating and a $227.00 price target on the stock. The consensus estimate for ResMed’s current full-year earnings is $7.37 per share. KeyCorp also issued estimates for ResMed’s Q4 2024 earnings at $1.92 EPS, FY2024 earnings at $7.33 EPS and FY2025 earnings at $8.11 EPS.

ResMed (NYSE:RMDGet Free Report) last released its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.07. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the firm earned $1.66 EPS. The business’s revenue was up 12.5% on a year-over-year basis.

Several other research firms also recently weighed in on RMD. UBS Group upped their price objective on shares of ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Mizuho boosted their price objective on ResMed from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Oppenheimer lifted their target price on ResMed from $185.00 to $205.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Morgan Stanley upgraded ResMed from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $180.00 to $169.00 in a research note on Friday, October 27th. Finally, JPMorgan Chase & Co. upped their target price on shares of ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $196.30.

Get Our Latest Research Report on RMD

ResMed Trading Down 1.9 %

Shares of ResMed stock opened at $186.59 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11. ResMed has a 52 week low of $132.24 and a 52 week high of $243.52. The stock has a 50 day moving average price of $174.23 and a two-hundred day moving average price of $164.41. The stock has a market capitalization of $27.45 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 2.39 and a beta of 0.69.

Hedge Funds Weigh In On ResMed

A number of hedge funds have recently bought and sold shares of RMD. Cambridge Investment Research Advisors Inc. boosted its stake in ResMed by 15.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,050 shares of the medical equipment provider’s stock valued at $740,000 after purchasing an additional 414 shares during the last quarter. Cibc World Market Inc. lifted its position in ResMed by 13.0% during the first quarter. Cibc World Market Inc. now owns 1,000 shares of the medical equipment provider’s stock valued at $243,000 after purchasing an additional 115 shares during the period. Vontobel Holding Ltd. boosted its holdings in ResMed by 14.5% in the first quarter. Vontobel Holding Ltd. now owns 8,112 shares of the medical equipment provider’s stock worth $2,020,000 after purchasing an additional 1,025 shares during the last quarter. Sei Investments Co. boosted its holdings in ResMed by 7.8% in the first quarter. Sei Investments Co. now owns 40,740 shares of the medical equipment provider’s stock worth $9,781,000 after purchasing an additional 2,955 shares during the last quarter. Finally, Prudential PLC bought a new position in shares of ResMed during the 1st quarter valued at $694,000. Institutional investors own 63.79% of the company’s stock.

Insider Buying and Selling

In other news, CFO Brett Sandercock sold 3,000 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $152.62, for a total transaction of $457,860.00. Following the sale, the chief financial officer now owns 92,962 shares in the company, valued at approximately $14,187,860.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Brett Sandercock sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $152.62, for a total value of $457,860.00. Following the sale, the chief financial officer now directly owns 92,962 shares of the company’s stock, valued at approximately $14,187,860.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 5,678 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $152.04, for a total value of $863,283.12. Following the transaction, the chief executive officer now directly owns 440,986 shares of the company’s stock, valued at approximately $67,047,511.44. The disclosure for this sale can be found here. 1.21% of the stock is owned by insiders.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Thursday, February 8th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, February 7th. This represents a $1.92 annualized dividend and a dividend yield of 1.03%. ResMed’s dividend payout ratio is presently 31.74%.

ResMed Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for ResMed (NYSE:RMD)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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