ResMed Inc. to Issue Quarterly Dividend of $0.53 (NYSE:RMD)

ResMed Inc. (NYSE:RMD) announced a quarterly dividend on Thursday, October 24th, Wall Street Journal reports. Shareholders 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 yield of 0.87%. The ex-dividend date is Thursday, November 7th.

ResMed has raised its dividend payment by an average of 5.7% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. ResMed has a dividend payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ResMed to earn $10.01 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 21.2%.

ResMed Price Performance

NYSE:RMD opened at $243.61 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The company has a 50-day moving average of $242.99 and a 200-day moving average of $220.75. ResMed has a 52 week low of $140.81 and a 52 week high of $260.49. The company has a market capitalization of $35.76 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 1.79 and a beta of 0.69.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the company earned $1.64 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities research analysts anticipate that ResMed will post 9.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wolfe Research reiterated an “underperform” rating and issued a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada boosted their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Baird R W raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $225.70.

Insider Activity

In other news, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $252.56, for a total value of $1,262,800.00. Following the completion of the sale, the insider now owns 21,788 shares in the company, valued at $5,502,777.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $214.25, for a total value of $3,145,832.75. Following the sale, the chief executive officer now directly owns 440,799 shares in the company, valued at $94,441,185.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the transaction, the insider now owns 21,788 shares of the company’s stock, valued at $5,502,777.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,874 shares of company stock worth $17,731,782 over the last 90 days. 0.71% of the stock is currently owned by corporate insiders.

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.