ResMed Inc. (NYSE:RMD) announced a quarterly dividend on Friday, October 26th, Wall Street Journal reports. Investors of record on Thursday, November 8th will be given a dividend of 0.37 per share by the medical equipment provider on Thursday, December 13th. This represents a $1.48 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Wednesday, November 7th.
ResMed has raised its dividend 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 payout ratio of 39.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect ResMed to earn $4.14 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 35.7%.
ResMed stock opened at $104.18 on Friday. The company has a market capitalization of $14.85 billion, a P/E ratio of 28.31, a PEG ratio of 2.66 and a beta of 0.97. ResMed has a 12-month low of $82.81 and a 12-month high of $116.64. The company has a quick ratio of 1.91, a current ratio of 2.58 and a debt-to-equity ratio of 0.27.
In related news, insider James Hollingshead sold 600 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $111.59, for a total transaction of $66,954.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brett Sandercock sold 2,000 shares of the stock in a transaction on Monday, September 17th. The shares were sold at an average price of $114.30, for a total value of $228,600.00. Following the sale, the chief financial officer now owns 73,232 shares in the company, valued at approximately $8,370,417.60. The disclosure for this sale can be found here. Insiders have sold a total of 13,420 shares of company stock worth $1,455,815 in the last 90 days. 1.24% of the stock is currently owned by insiders.
Several research analysts have weighed in on RMD shares. Zacks Investment Research downgraded ResMed from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Credit Suisse Group upgraded ResMed from a “neutral” rating to an “outperform” rating in a research report on Friday, October 26th. Finally, BMO Capital Markets increased their target price on ResMed from $107.00 to $109.00 and gave the company a “market perform” rating in a research report on Friday, October 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. ResMed presently has a consensus rating of “Hold” and an average price target of $114.50.
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ResMed Company Profile
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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