ResMed Inc. (RMD) to Issue Quarterly Dividend of $0.60 on March 19th

ResMed Inc. (NYSE:RMD) declared a quarterly dividend on Thursday, January 29th. Investors of record on Thursday, February 12th will be given a dividend of 0.60 per share by the medical equipment provider on Thursday, March 19th. This represents a c) annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, February 12th.

ResMed has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 13 years. ResMed has a dividend payout ratio of 22.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect ResMed to earn $10.36 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 23.2%.

ResMed Price Performance

Shares of ResMed stock opened at $276.00 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. The company has a market cap of $40.21 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 1.80 and a beta of 0.87. The firm has a fifty day moving average price of $252.33 and a two-hundred day moving average price of $263.32. ResMed has a fifty-two week low of $199.92 and a fifty-two week high of $293.81.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business earned $2.43 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Analysts expect that ResMed will post 9.47 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on RMD shares. Royal Bank Of Canada lifted their price objective on ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Robert W. Baird set a $281.00 price target on shares of ResMed in a research note on Friday, January 30th. Wells Fargo & Company increased their price objective on shares of ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a research note on Friday, January 30th. Piper Sandler lifted their target price on shares of ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Finally, Citigroup upped their target price on shares of ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and an average target price of $299.27.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.