ResMed Inc. (NYSE:RMD – Get Free Report) 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.
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.
Read Our Latest Stock Report on RMD
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.
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