ResMed’s 3rd Quarter Performance:
- Adjusted EPS is $2.13, outperforming the estimate of $1.92 and last year’s result of $1.68.
- Revenue reached $1.20 billion, presenting a growth of 7.2% on a year on year basis, and surpassing the estimated $1.17 billion.
- Global devices revenue is at $638.2 million, an increase of 5% year on year, and higher than the estimate of $619.1 million.
- Global masks and other revenue came to $410.8 million, up 10% year over year, it exceeded the estimate of $404.8 million.
- Global software as service revenue happens to be $148.0 million, an 8.2% rise year over year, narrowly lagging behind the estimate of $148.5 million.
- Operating income reached $374.6 million, up by 25% year over year, breaking past the estimate of $353.5 million.
- Adjusted gross margin is currently standing at 58.5%, a rise from 56.1% last year, and exceeding the estimate of 56.9%.
CEO’s Remarks:
- “Robust patient and customer demand for our products and software solutions contributed to double-digit mask and accessories revenue growth.”
- “Operational efficiencies were maintained to drive margin improvement and increased profitability.”
- “This resulted in double-digit growth in both operating profit and earnings per share.”
Stock Analyst Ratings:
- 9 buys
- 5 holds
- 0 sells
Resmed Inc on Smartkarma
Analyst coverage on ResMed Inc by Baptista Research on Smartkarma highlights the company’s strong performance in its recent earnings reports. In the Q2 FY2024 earnings, ResMed showed double-digit growth in both devices and Software as a Service (SaaS) business, addressing a significant global health problem with over 2 billion people suffering from sleep-related issues. The report titled “ResMed Inc: Potential expansion of sleep awareness and population health management strategies to boost growth!” indicates a bullish sentiment towards ResMed’s growth potential.
Furthermore, Baptista Research‘s analysis in the report “ResMed Inc.: A Leader In Sleep Apnea Care As A Result Of Intangible Assets & Innovation!” emphasizes ResMed’s robust results in the first quarter of fiscal year 2024, with notable growth in masks, SaaS, and devices segments. The company’s innovative digital health solutions and patient-centered care have contributed to its global leadership in healthcare. The overall sentiment conveyed in the report is bullish, reflecting confidence in ResMed’s position in the competitive healthcare market.
A look at Resmed Inc Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 2 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 2.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, Resmed Inc seems to have a promising long-term outlook. With a score of 4 in Momentum, the company appears to be gaining traction and moving in a positive direction. This indicates strong market performance and investor interest in the company’s stock. Moreover, Resilience scoring a 3 suggests that the company has the potential to withstand economic uncertainties and market volatility, which bodes well for its future stability and growth.
While Resmed Inc‘s Value and Dividend scores are at 2, indicating average performance in these areas, its Growth score of 3 showcases potential for expansion and development. Overall, Resmed Inc‘s Smart Scores suggest a mixed but generally optimistic outlook for the company in the long run, making it a stock worth monitoring for potential opportunities.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Analytics and News
- ✓ Events & Webinars
