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

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

ResMed has raised its dividend payment by an average of 5.7% annually over the last three years and has increased its dividend every year for the last 12 years. ResMed has a dividend payout ratio of 23.2% indicating that its dividend is sufficiently covered by earnings. Equities 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 NYSE RMD traded up $34.64 on Friday, reaching $218.06. 4,330,840 shares of the company traded hands, compared to its average volume of 1,052,924. The company has a 50 day moving average of $187.07 and a 200 day moving average of $171.97. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. ResMed has a fifty-two week low of $132.24 and a fifty-two week high of $243.52. The stock has a market capitalization of $32.07 billion, a PE ratio of 33.50, a P/E/G ratio of 2.26 and a beta of 0.67.

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

Insider Activity

In other news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the sale, the general counsel now directly owns 6,688 shares in the company, valued at approximately $1,158,696. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the transaction, the general counsel now directly owns 6,688 shares of the company’s stock, valued at $1,158,696. The disclosure for this sale can be found here. In the last three months, insiders sold 11,216 shares of company stock valued at $2,046,617. Company insiders own 1.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on RMD shares. Royal Bank of Canada upped their price target on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday. Mizuho reissued a “buy” rating and issued a $215.00 price target on shares of ResMed in a 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 note on Friday. UBS Group upped their target price on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Finally, KeyCorp raised their price target on shares of 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.