ResMed Inc. Declares Quarterly Dividend of $0.53 (NYSE:RMD)

ResMed Inc. (NYSE:RMD) announced a quarterly dividend on Thursday, October 24th, Wall Street Journal reports. Stockholders of record on Thursday, November 7th will be given a dividend of 0.53 per share by the medical equipment provider on Thursday, December 12th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Thursday, November 7th.

ResMed has increased its dividend payment by an average of 5.7% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. ResMed has a dividend payout ratio of 23.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect ResMed to earn $9.84 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 21.5%.

ResMed Stock Up 7.1 %

Shares of RMD traded up $17.02 during midday trading on Friday, reaching $256.07. 3,245,434 shares of the stock were exchanged, compared to its average volume of 1,046,026. ResMed has a 12-month low of $132.24 and a 12-month high of $260.49. The firm has a 50 day simple moving average of $240.22 and a 200-day simple moving average of $217.35. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. The company has a market cap of $37.58 billion, a price-to-earnings ratio of 36.95, a P/E/G ratio of 1.94 and a beta of 0.69.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.64 EPS. Research analysts forecast that ResMed will post 9.08 EPS for the current year.

Insider Transactions at ResMed

In related news, General Counsel Michael J. Rider sold 882 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total transaction of $203,742.00. Following the completion of the transaction, the general counsel now owns 10,512 shares in the company, valued at $2,428,272. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Brett Sandercock sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $212.16, for a total transaction of $212,160.00. Following the completion of the transaction, the chief financial officer now owns 89,056 shares in the company, valued at $18,894,120.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Michael J. Rider sold 882 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total value of $203,742.00. Following the transaction, the general counsel now owns 10,512 shares of the company’s stock, valued at $2,428,272. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 123,874 shares of company stock valued at $28,151,142. 0.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Bank of America increased their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday. KeyCorp raised their target price on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday. Finally, Robert W. Baird raised their target price on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $220.55.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.