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

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 annualized dividend and a yield of 0.88%. The ex-dividend date 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 annually for the last 12 consecutive years. ResMed has a payout ratio of 23.2% indicating that its dividend is sufficiently covered by earnings. Equities 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 %

NYSE RMD traded up $34.64 during trading on Friday, hitting $218.06. The stock had a trading volume of 4,330,840 shares, compared to its average volume of 1,052,924. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11. The stock has a market capitalization of $32.07 billion, a price-to-earnings ratio of 33.50, a P/E/G ratio of 2.26 and a beta of 0.67. ResMed has a one year low of $132.24 and a one year high of $243.52. The stock has a 50 day simple moving average of $187.07 and a 200 day simple moving average of $171.97.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.92%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $1.68 earnings per share. Sell-side analysts predict that ResMed will post 7.44 earnings per share for the current year.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the transaction, the director now directly owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the transaction, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction 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 sale, the director now owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Insiders have sold 11,216 shares of company stock valued at $2,046,617 in the last ninety days. Insiders own 1.21% of the company’s stock.

Analyst Upgrades and Downgrades

RMD has been the topic of several research reports. KeyCorp lifted their price objective on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a report on Friday. UBS Group lifted their price objective on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Needham & Company LLC lifted their price target on shares of ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a report on Friday. Royal Bank of Canada lifted their price target on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a report on Friday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.