ResMed Inc. (NYSE:RMD) declared a quarterly dividend on Friday, October 26th, Wall Street Journal reports. Investors of record on Thursday, November 8th will be paid a dividend of 0.37 per share by the medical equipment provider on Thursday, December 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Wednesday, November 7th.
ResMed has raised its dividend payment by an average of 8.7% annually over the last three years and has increased its dividend every year for the last 2 years. ResMed has a dividend payout ratio of 39.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ResMed to earn $4.12 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 35.9%.
Shares of RMD stock traded down $1.58 during trading on Friday, reaching $106.94. The company had a trading volume of 462,286 shares, compared to its average volume of 860,632. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.91 and a current ratio of 2.58. ResMed has a one year low of $81.52 and a one year high of $116.64. The company has a market capitalization of $15.33 billion, a price-to-earnings ratio of 29.24, a PEG ratio of 2.75 and a beta of 0.97.
In other news, CFO Brett Sandercock sold 2,000 shares of ResMed stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $114.30, for a total transaction of $228,600.00. Following the sale, the chief financial officer now owns 73,232 shares of the company’s stock, valued at approximately $8,370,417.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James Hollingshead sold 600 shares of ResMed stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $111.59, for a total value of $66,954.00. The disclosure for this sale can be found here. Insiders have sold a total of 13,420 shares of company stock worth $1,467,835 in the last three months. 1.24% of the stock is owned by insiders.
RMD has been the topic of several recent analyst reports. Zacks Investment Research raised ResMed from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. BMO Capital Markets lifted their price target on ResMed from $107.00 to $109.00 and gave the stock a “market perform” rating in a research report on Friday, October 26th. Finally, Credit Suisse Group raised ResMed from a “neutral” rating to an “outperform” rating in a research report on Friday, October 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $114.50.
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ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.
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