Why ResMed Stock Is Jumping Today
Shares of (NYSE: RMD) were jumping 7% as of 11:25 a.m. ET on Thursday after rising as much as 10.6% earlier in the morning. The solid gain came after the medical device maker announced results for its fiscal 2024 second quarter ended Dec. 31, 2023, following the market close on Wednesday.
ResMed reported Q2 revenue of $1.16 billion. This reflected a 12% year-over-year increase and was a little above the consensus Wall Street estimate.
The company posted earnings of $208.8 million, or $1.42 per diluted share, based on generally accepted accounting principles (GAAP). On a non-GAAP (adjusted) basis, ResMed's earnings came in at $277.3 million, or $1.88 per diluted share. This bottom-line amount was 13% higher than adjusted earnings recorded in the prior-year period. It also beat the average analysts' earnings estimate of $1.81 per share.
Source Fool.com
Resmed Inc. Stock
Resmed Inc. is currently one of the favorites of our community with 19 Buy predictions and no Sell predictions.
As a result the target price of 207 € shows a slightly positive potential of 2.73% compared to the current price of 201.5 € for Resmed Inc..
