ResMed Inc. (RMD) to Issue Quarterly Dividend of $0.53 on December 12th

ResMed Inc. (NYSE:RMD) declared a quarterly dividend on Thursday, October 24th, Wall Street Journal reports. Stockholders of record on Thursday, November 7th will be paid 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 is Thursday, November 7th.

ResMed has increased its dividend by an average of 5.7% annually over the last three years and has raised its dividend every year for the last 13 years. ResMed has a dividend payout ratio of 23.1% meaning 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 Performance

Shares of NYSE RMD opened at $256.07 on Friday. The business’s 50-day moving average price is $240.22 and its two-hundred day moving average price is $217.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. ResMed has a one year low of $132.24 and a one year high of $260.49. The company has a market capitalization of $37.58 billion, a P/E ratio of 36.95, a price-to-earnings-growth ratio of 1.94 and a beta of 0.69.

ResMed (NYSE:RMD) last issued its earnings results 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. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the company posted $1.64 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Analysts anticipate that ResMed will post 9.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

RMD has been the subject of a number of analyst reports. Wolfe Research reaffirmed an “underperform” rating and issued a $180.00 price target on shares of ResMed in a research report on Wednesday, September 18th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Bank of America boosted their price objective on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. KeyCorp boosted their price objective on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Robert W. Baird boosted their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $220.55.

Insider Activity

In other news, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $217.07, for a total value of $10,419,360.00. Following the sale, the insider now directly owns 18,741 shares in the company, valued at approximately $4,068,108.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $217.07, for a total value of $10,419,360.00. Following the sale, the insider now directly owns 18,741 shares in the company, valued at approximately $4,068,108.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Michael J. Rider sold 882 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the completion of the sale, the general counsel now owns 10,512 shares in the company, valued at approximately $2,428,272. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 123,874 shares of company stock worth $28,151,142. Company insiders own 0.71% of the company’s stock.

About ResMed

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.