A share price of Resmed Inc. [RMD] is currently trading at $194.27, up 3.47%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The RMD shares have gain 5.38% over the last week, with a monthly amount glided 3.09%, and seem to be holding up well over a long-time horizon.
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On 4, April 2024, ResMed to Report Third Quarter Fiscal 2024 Earnings on April 25, 2024. In a post published today on Yahoo Finance, ResMed (NYSE: RMD, ASX: RMD) today announced it plans to release financial and operational results for the third quarter of fiscal year 2024 on Thursday, April 25, 2024, after the New York Stock Exchange closes. Following the release, ResMed management will host a webcast to discuss the results. Other forward-looking and material information may also be discussed during the webcast.
From an analyst’s perspective:
Previously, Morgan Stanley upgraded its rating to Overweight on October 27, 2023, and dropped its price target to $169. On October 12, 2023, downgrade downgraded it’s rating to Sector Perform and revised its price target to $202 on the stock. JP Morgan upgraded its rating to a Overweight and decreased its price target to $170 on October 09, 2023. Wolfe Research downgraded its rating to a Peer Perform. Needham upgraded its rating to Buy for this stock on September 06, 2023, but kept the price target unchanged to $180. In a note dated September 05, 2023, UBS downgraded an Neutral rating on this stock and revised its target price from $265 to $170.
Resmed Inc. experienced fluctuations in its stock price throughout the past year between $132.24 and $243.52. Currently, Wall Street analysts expect the stock to reach $218.83 within the next 12 months. Resmed Inc. [NYSE: RMD] shares were valued at $194.27 at the most recent close of the market. An investor can expect a potential return of 12.64% based on the average RMD price forecast.
Analyzing the RMD fundamentals
Trailing Twelve Months sales for Resmed Inc. [NYSE:RMD] were 4.50B which represents 12.48% growth. Gross Profit Margin for this corporation currently stands at 0.57% with Operating Profit Margin at 0.26%, Pretax Profit Margin comes in at 0.25%, and Net Profit Margin reading is 0.2%. To continue investigating profitability, this company’s Return on Assets is posted at 0.13, Equity is 0.21 and Total Capital is 0.19. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.31.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 190.04 points at the first support level, and at 185.81 for the second support level. However, for the 1st resistance point, the stock is sitting at 196.44, and for the 2nd resistance point, it is at 198.61.
Resmed Inc. [RMD] reported earnings per share of $1.88 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.8/share, meaning a difference of $0.08 and a surprise factor of 4.40%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $1.64 per share as compared to estimates of $1.62 per share, a difference of $0.02 representing a surprise of 1.20%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Resmed Inc. [NYSE:RMD] is 3.11. Further, the Quick Ratio stands at 1.89, while the Cash Ratio is 0.28. Considering the valuation of this stock, the price to sales ratio is 6.34, the price to book ratio is 6.38 and price to earnings (TTM) ratio is 32.18.
Transactions by insiders
Recent insider trading involved Rider Michael J, Global General Counsel, that happened on Mar 04 ’24 when 81.0 shares were sold. Global General Counsel, Rider Michael J completed a deal on Mar 01 ’24 to sell 200.0 shares. Meanwhile, Director FARRELL PETER C sold 10935.0 shares on Feb 22 ’24.
