ResMed Inc. Announces Quarterly Dividend of $0.48 (NYSE:RMD)

ResMed Inc. (NYSE:RMD) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Thursday, May 9th will be given a dividend of 0.48 per share by the medical equipment provider on Thursday, June 13th. This represents a $1.92 annualized dividend and a yield of 0.88%. The ex-dividend date is Wednesday, May 8th.

ResMed has increased its dividend payment by an average of 5.7% per year over the last three years and has increased its dividend annually for the last 12 consecutive years. ResMed has a dividend payout ratio of 23.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect ResMed to earn $8.32 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 23.1%.

ResMed Trading Up 18.9 %

Shares of RMD stock traded up $34.64 during mid-day trading on Friday, reaching $218.06. 4,330,840 shares of the stock traded hands, compared to its average volume of 1,052,924. The stock’s fifty day simple moving average is $187.07 and its two-hundred day simple moving average is $171.97. ResMed has a 1-year low of $132.24 and a 1-year high of $243.52. The company has a market cap of $32.07 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 2.26 and a beta of 0.67. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. ResMed had a return on equity of 24.92% and a net margin of 20.91%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the firm posted $1.68 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, research analysts anticipate that ResMed will post 7.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the sale, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the sale, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the sale, the general counsel now owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,216 shares of company stock worth $2,046,617. 1.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RMD. JPMorgan Chase & Co. raised their price objective on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Royal Bank of Canada raised their price objective on ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday. Mizuho restated a “buy” rating and set a $215.00 price objective on shares of ResMed in a research report on Wednesday, March 27th. Oppenheimer lowered their price objective on ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday. Finally, KeyCorp raised their price objective on ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.80.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.