ResMed (RMD) sees 2013 earnings increase and has recently become a Zacks #1 Rank (Strong Buy).
ResMed Inc., through its subsidiaries, engages in the development, manufacture, and distribution of medical equipment for treating, diagnosing, and managing sleep-disordered breathing and other respiratory disorders. It offers various products for the treatment of obstructive sleep apnea and other respiratory disorders, including airflow generators, diagnostic products, mask systems, headgear, ventilation devices, and other accessories, such as cold pass over humidifiers, carry bags, and breathing circuits.
ResMed Tops Estimates in Five of Last Seven Quarters
ResMed has topped the Zacks Consensus Estimate in five of the last seven quarters. The five beats though not consecutive, have been increasing in both absolute and percentage terms. The average beat works out to be $0.035 more than estimated or a 9.2% positive surprise. When the misses are added into the average the beat amount slides to $0.02 or 5.4%. The stock moved higher by nearly 2% on average following just the beats, but moved lower by an average of 1.2% when the misses are added in.
The biggest price impact came following the December 2011 quarter, the stock rose more than 9% following a 10% positive earnings surprise. The company reported earnings of $0.42, $0.04 more than the Zacks Consensus Estimate. Revenues of $333 million were approximately $7 less than the Zacks Consensus Estimate and represented a 9% increase from the year ago period.