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

ResMed Inc. (NYSE:RMD) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders 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 yield of 0.89%. The ex-dividend date of this dividend is Wednesday, May 8th.

ResMed has increased 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 22.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ResMed to earn $8.58 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 22.4%.

ResMed Stock Down 0.0 %

Shares of RMD opened at $216.94 on Tuesday. The company has a market capitalization of $31.87 billion, a price-to-earnings ratio of 33.32, a PEG ratio of 2.68 and a beta of 0.64. ResMed has a 52 week low of $132.24 and a 52 week high of $237.26. The stock’s 50-day moving average price is $191.19 and its 200-day moving average price is $175.51. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, topping the consensus estimate of $1.91 by $0.22. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. ResMed had a return on equity of 24.43% 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 quarter in the prior year, the firm posted $1.68 EPS. On average, sell-side analysts predict that ResMed will post 7.59 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RMD shares. Mizuho restated a “buy” rating and set a $215.00 price target on shares of ResMed in a research report on Wednesday, March 27th. Oppenheimer cut their price target on ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. KeyCorp upped their price target on ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Needham & Company LLC raised their price objective on ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Royal Bank of Canada upped their target price on ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $202.80.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 157,404 shares in the company, valued at approximately $28,751,414.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, General Counsel Michael J. Rider sold 200 shares of the business’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 transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the sale, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,641 shares of company stock worth $2,137,958. Corporate insiders own 1.21% of the company’s stock.

About ResMed

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.