On September 17, 2023, it was reported that SG Americas Securities LLC had acquired a new stake in ResMed Inc. (NYSE:RMD) during the second quarter of the year. The financial firm purchased 31,316 shares of the medical equipment provider’s stock, valued at approximately $6,843,000.ResMed recently released its quarterly earnings data on Thursday, August 3rd. The company reported earnings per share (EPS) of $1.60 for the quarter, falling short of analysts’ consensus estimates of $1.67 by ($0.07). Despite this, ResMed generated $1.12 billion in revenue during the quarter, slightly lower than analysts’ expectations of $1.14 billion. The company posted a return on equity of 24.94% and a net margin of 21.25%. Comparatively, its quarterly revenue increased by 22.7% compared to the same period last year when it achieved EPS of $1.49 EPS.Equities research analysts predict that ResMed Inc., as a whole, will post earnings per share of 7.08 for the current year.In addition to these financial figures, various analyst reports have been published regarding ResMed (NYSE:RMD). StockNews.com initiated coverage on the company and gave it a “hold” rating on Thursday, August 17th. Meanwhile, TheStreet downgraded ResMed from a “b-” rating to a “c+” rating in a research note released on Thursday, August 24th.Other notable reports include Mizuho reducing their price objective from $255 to $180 and setting a “buy” rating for the company in their research note on Wednesday and Royal Bank reducing their price objective from $284 to $273 while assigning an “outperform” rating for ResMed in their research note on Monday, August 14th.Recently, Needham & Company LLC upgraded their rating on ResMed from a “hold” to a “buy” in their research note on Wednesday, September 6th. Overall, out of the eleven reports analyzed by Bloomberg, three analysts have given a hold rating while eight have assigned a buy rating to the stock. The consensus rating for ResMed Inc. is currently deemed as “Moderate Buy” with an average target price of $251.14.
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