RESMED INC (RMD)
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RMD - RESMED INC

FNArena Sector : Medical Equipment & Devices
Year End: June
GICS Industry Group : Health Care Equipment & Services
Debt/EBITDA: 1.18
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

ResMed is the global market leader in providing devices for the treatment of sleep apnoea and chronic pulmonary disease. Formed in Australia in 1989 the company listed on the ASX in 1999 and is also listed on the NYSE. ResMed's head office is in San Diego, California.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$32.58

29 Apr
2024

1.080

OPEN

$32.82

3.43%

HIGH

$33.50

6,447,967

LOW

$32.37

TARGET
$35.732

+1.35 change from previous day

 9.7% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
4DX . AT1 . BRN . CAT . CBL . CGS . CMP . COH . CSX . CU6 . CYC . EBR . EMV . EYE . FPH . IDX . IME . IMR . IPD . LDX . MX1 . NAN . ONE . PCK . PEB . PGC . PME . SOM . TRJ . UBI . VHT . VTI .
FNARENA'S MARKET CONSENSUS FORECASTS
RMD: 1
Title FY24
Forecast		 FY25
Forecast
EPS (cps) 117.6 xxx
DPS (cps) 30.1 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 27.7 xxx
Dividend Yield 0.9% xxx
Div Pay Ratio(%) 25.6% xxx
This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 1.05%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.87

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 07/02 - ex-div 5.11c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx90.9
DPS All xxxxxxxxxxxxxxx21.9
Sales/Revenue xxxxxxxxxxxxxxx6,278.2 M
Book Value Per Share xxxxxxxxxxxxxxx421.9
Net Operating Cash Flow xxxxxxxxxxxxxxx1,030.7 M
Net Profit Margin xxxxxxxxxxxxxxx21.25 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx24.06 %
Return on Invested Capital xxxxxxxxxxxxxxx18.15 %
Return on Assets xxxxxxxxxxxxxxx15.20 %
Return on Equity xxxxxxxxxxxxxxx24.06 %
Return on Total Capital xxxxxxxxxxxxxxx23.14 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx468.8 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx48 M
Long Term Debt xxxxxxxxxxxxxxx2,326 M
Total Debt xxxxxxxxxxxxxxx2,373 M
Goodwill - Gross xxxxxxxxxxxxxxx4,162 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx342 M
Price To Book Value xxxxxxxxxxxxxxx7.78

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx199.2 M
Capex % of Sales xxxxxxxxxxxxxxx3.17 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,839 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,727 M
Research & Development xxxxxxxxxxxxxxx428 M
Investments - Total xxxxxxxxxxxxxxx221 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.8

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

29/04/2024

1

Overweight

$33.70

3.44%

Morgan Stanley raises its target for ResMed to $33.70 from $31.80 following 3Q results. The Overweight rating is maintained. Industry View: In-Line.

Gross margin was the biggest surprise for the broker, due to better price, manufacturing efficiencies, stable component costs and lower freight, which combined to drive the 90bps beat versus the broker's forecast.

Last Friday, Morgan Stanley's initial commentary was summarised as follows:

ResMed's 3Q gross profit margin of 58.5% was a 160bps rise on the previous quarter, eclipsing forecasts by Morgan Stanley and consensus for rises of 90bps and 100bps, respectively, due to improvements in freight and manufacturing.

Due to strength in margins and a lower interest expense, explains the broker, diluted EPS rose by 27% to US$2.13 compared to forecast rises of 10% and 8% by consensus and the analyst, respectively.

The highlight, according to Morgan Stanley, was US device sales growth of 7.3% on the previous corresponding period, compared to estimates by consensus and the broker of 5% and 3%, respectively, indicating a limited negative impact from obesity drugs.

Management provided no FY24 guidance or outlook commentary.

FORECAST
Morgan Stanley forecasts a full year FY24 dividend of 29.24 cents and EPS of 115.75 cents.
Morgan Stanley forecasts a full year FY25 dividend of 29.24 cents and EPS of 130.98 cents.

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

-

xx.xx%

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Access Stockbroker Research History >

RMD STOCK CHART

FNArena News on RMD

1
ResMed Silences The Doubters

Apr 29 2024 - Australia
2
Rudi’s View: A Market Narrative Delayed

Apr 24 2024 - Rudi's View
3
Australian Broker Call *Extra* Edition – Apr 23, 2024

Apr 23 2024 - Daily Market Reports
4
Next Week At A Glance – 22-26 Apr 2024

Apr 19 2024 - Weekly Reports
5
Australian Broker Call *Extra* Edition – Apr 18, 2024

Apr 18 2024 - Daily Market Reports

Latest Medical Equipment & Devices News

1
ResMed Silences The Doubters

Apr 29 2024 - Australia
2
Dr Boreham’s Crucible: 4D Medical

Apr 23 2024 - Small Caps
3
Uptrend Resumed For ResMed

Mar 19 2024 - Technicals
4
Dr Boreham’s Crucible: Cochlear

Feb 28 2024 - Australia
5
Rudi Interviewed: Ongoing Potential In Technology & Growth

Feb 19 2024 - Rudi's View
6
Dr Boreham’s Crucible: Artrya

Feb 15 2024 - Small Caps
7
ResMed Recovery Turns Into Hollywood Script

Jan 31 2024 - Australia
8
ResMed Makes A Comeback

Jan 29 2024 - Australia
9
ResMed: The Recovery Has Begun

Jan 23 2024 - Technicals
10
Dr Boreham’s Crucible: Pro Medicus

Oct 23 2023 - Australia