ResMed (RMD) Expected to Announce Quarterly Earnings on Thursday

ResMed (NYSE:RMD) is projected to release its earnings data after the market closes on Thursday, January 30th. Analysts expect ResMed to post earnings of $2.29 per share and revenue of $1.27 billion for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

ResMed Stock Down 1.8 %

Shares of NYSE:RMD opened at $250.03 on Wednesday. The company’s fifty day moving average is $239.56 and its 200-day moving average is $235.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. ResMed has a 52 week low of $170.56 and a 52 week high of $260.49. The company has a market capitalization of $36.70 billion, a PE ratio of 33.12, a P/E/G ratio of 1.78 and a beta of 0.70.

Analyst Ratings Changes

Several research analysts have recently commented on the company. The Goldman Sachs Group began coverage on ResMed in a report on Thursday, January 16th. They issued a “buy” rating on the stock. KeyCorp lifted their target price on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Royal Bank of Canada boosted their price objective on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Stifel Nicolaus assumed coverage on shares of ResMed in a research note on Friday, December 13th. They set a “hold” rating and a $250.00 price target for the company. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ResMed currently has an average rating of “Moderate Buy” and a consensus target price of $238.40.

Insiders Place Their Bets

In other news, Director Witte Jan De sold 796 shares of ResMed stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the sale, the director now directly owns 6,723 shares in the company, valued at $1,672,749.63. This trade represents a 10.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the transaction, the director now owns 81,218 shares of the company’s stock, valued at $19,951,201.70. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,099 shares of company stock worth $2,719,385. Corporate insiders own 0.71% of the company’s stock.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.