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

ResMed Inc. (NYSE:RMD) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders 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 dividend yield of 0.88%. The ex-dividend date of this dividend is Wednesday, May 8th.

ResMed has raised its dividend 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% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Up 18.9 %

Shares of ResMed stock traded up $34.64 on Friday, reaching $218.06. 4,330,840 shares of the company were exchanged, compared to its average volume of 1,052,924. The company has a market capitalization of $32.07 billion, a price-to-earnings ratio of 33.50, a PEG 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 company has a 50-day moving average of $187.07 and a 200 day moving average of $171.97. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.22. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a return on equity of 24.92% and a net margin of 20.91%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.68 earnings per share. On average, equities research analysts forecast that ResMed will post 7.44 earnings per share for the current year.

Wall Street Analyst Weigh In

RMD has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their price target on ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research report on Friday. KeyCorp boosted their price target on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research note on Friday. Needham & Company LLC increased 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. Mizuho reiterated a “buy” rating and issued a $215.00 target price on shares of ResMed in a research report on Wednesday, March 27th. Finally, UBS Group raised their price target on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and a consensus target price of $202.80.

Insider Buying and Selling

In other news, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the transaction, the general counsel now directly owns 6,688 shares of the company’s stock, valued at $1,158,696. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the transaction, the general counsel now owns 6,688 shares in the company, valued at approximately $1,158,696. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 11,216 shares of company stock valued at $2,046,617 over the last three months. 1.21% of the stock is owned by company insiders.

ResMed Company Profile

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.