ResMed Inc. (RMD) To Go Ex-Dividend on August 15th

ResMed Inc. (NYSE:RMD) announced a quarterly dividend on Thursday, August 1st, Wall Street Journal reports. Investors of record on Thursday, August 15th will be given a dividend of 0.53 per share by the medical equipment provider on Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.48.

ResMed has increased its dividend payment by an average of 5.7% per year over the last three years and has increased its dividend every year for the last 12 years. ResMed has a payout ratio of 21.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect ResMed to earn $9.56 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 20.1%.

ResMed Stock Up 4.2 %

NYSE RMD opened at $223.64 on Friday. The firm has a market cap of $32.85 billion, a PE ratio of 34.35, a price-to-earnings-growth ratio of 1.85 and a beta of 0.66. ResMed has a one year low of $132.24 and a one year high of $225.68. The stock’s 50 day simple moving average is $203.89 and its 200 day simple moving average is $196.28. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. ResMed had a return on equity of 25.58% and a net margin of 21.79%. ResMed’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.60 EPS. As a group, sell-side analysts forecast that ResMed will post 8.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ResMed news, Director Witte Jan De sold 360 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total transaction of $78,584.40. Following the completion of the transaction, the director now owns 7,519 shares in the company, valued at approximately $1,641,322.51. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other ResMed news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $194.35, for a total transaction of $194,350.00. Following the completion of the transaction, the chief financial officer now owns 90,056 shares in the company, valued at approximately $17,502,383.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Witte Jan De sold 360 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total value of $78,584.40. Following the completion of the transaction, the director now owns 7,519 shares of the company’s stock, valued at approximately $1,641,322.51. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,409 shares of company stock worth $9,602,796. Corporate insiders own 1.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Royal Bank of Canada increased their price objective on ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $236.00 price objective on shares of ResMed in a research report on Friday. Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Oppenheimer downgraded ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Finally, KeyCorp increased their price target on ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.70.

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.