Medical device company ResMed (NYSE: RMD) will be announcing earnings results this Thursday after the bell. Here’s what to expect.
ResMed beat analysts’ revenue expectations last quarter, reporting revenues of $1.43 billion, up 10.8% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates.
Is ResMed a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting ResMed’s revenue to grow 8.3% year on year, slowing from the 10.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. ResMed has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at ResMed’s peers in the healthcare equipment and supplies segment, some have already reported their Q2 results, giving us a hint as to what we can expect. DexCom delivered year-on-year revenue growth of 13.1%, beating analysts’ expectations by 1.4%, and Baxter reported revenues up 5.3%, topping estimates by 6%. DexCom traded up 12% following the results while Baxter was also up 5.6%.
Read our full analysis of DexCom’s results here and Baxter’s results here.
Investors in the healthcare equipment and supplies segment have had steady hands going into earnings, with share prices up 1.4% on average over the last month. ResMed is up 2.1% during the same time and is heading into earnings with an average analyst price target of $248.53 (compared to the current share price of $223.09).
ALSO WORTH WATCHING: Nvidia’s Quiet Partner. Nvidia’s chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all.
Every AI server needs specialized infrastructure the chip companies don’t make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. Claim The Stock Ticker Here for FREE.
