ResMed Inc. (NYSE:RMD – Get Free Report) 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.
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.
View Our Latest Analysis on RMD
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.
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