ResMed Inc. (NYSE:RMD) announced a quarterly dividend on Thursday, July 28th. Stockholders of record on Thursday, August 18th will be given a dividend of 0.33 per share on Thursday, September 22nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.01%. This is an increase from ResMed’s previous quarterly dividend of $0.30.
In related news, insider David Pendarvis sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of C$56.02, for a total transaction of C$336,120.00. Following the completion of the transaction, the insider now owns 80,287 shares in the company, valued at approximately C$4,497,677.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter C. Farrell sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of C$55.90, for a total transaction of C$1,118,000.00. Following the transaction, the director now owns 367,978 shares of the company’s stock, valued at approximately C$20,569,970.20. The disclosure for this sale can be found here.
A number of equities research analysts have recently commented on the stock. Citigroup Inc. upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, April 27th. Piper Jaffray Cos. cut shares of ResMed from an “overweight” rating to a “neutral” rating and cut their price target for the company from $65.00 to $57.00 in a report on Wednesday, April 27th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Wednesday, April 27th. Canaccord Genuity reiterated a “hold” rating and set a $57.00 price target on shares of ResMed in a report on Monday. Finally, Zacks Investment Research upgraded shares of ResMed from a “sell” rating to a “hold” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. ResMed presently has an average rating of “Hold” and a consensus target price of C$59.75.
ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. The firm had revenue of $518.60 million for the quarter, compared to the consensus estimate of $512.37 million. The company’s revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.68 EPS. Analysts forecast that ResMed will post $2.67 EPS for the current year.
ResMed Inc is engaged in the development, manufacturing, distribution and marketing of medical products for the diagnosis, treatment and management of respiratory disorders, with a focus on sleep-disordered breathing (SDB). The Company develops various products for SDB and other respiratory disorders, including airflow generators, diagnostic products, mask systems, headgear and other accessories.
