ResMed Inc. (NYSE:RMD) announced a quarterly dividend on Thursday, August 2nd, RTT News reports. Stockholders of record on Thursday, August 16th will be given a dividend of 0.37 per share by the medical equipment provider on Thursday, September 20th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Wednesday, August 15th. This is an increase from ResMed’s previous quarterly dividend of $0.35.
ResMed has raised its dividend by an average of 8.7% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. ResMed has a dividend payout ratio of 40.4% 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%.
Shares of NYSE RMD opened at $108.09 on Friday. The company has a market capitalization of $15.38 billion, a P/E ratio of 30.52, a price-to-earnings-growth ratio of 2.78 and a beta of 0.89. ResMed has a 1 year low of $72.44 and a 1 year high of $109.97. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.08 and a quick ratio of 1.56.
ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 2nd. The medical equipment provider reported $0.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.95. The business had revenue of $623.63 million during the quarter, compared to analyst estimates of $622.78 million. ResMed had a net margin of 13.49% and a return on equity of 24.74%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the business earned $0.77 EPS. analysts forecast that ResMed will post 3.66 earnings per share for the current fiscal year.
In other ResMed news, insider David Pendarvis sold 2,810 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $106.20, for a total transaction of $298,422.00. Following the completion of the transaction, the insider now owns 101,893 shares in the company, valued at approximately $10,821,036.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brett Sandercock sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $101.52, for a total transaction of $203,040.00. Following the transaction, the chief financial officer now owns 69,072 shares of the company’s stock, valued at approximately $7,012,189.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,823 shares of company stock valued at $4,330,718. Company insiders own 1.77% of the company’s stock.
A number of brokerages recently issued reports on RMD. Zacks Investment Research lowered shares of ResMed from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Goldman Sachs Group began coverage on shares of ResMed in a report on Sunday, July 1st. They issued a “buy” rating for the company. William Blair reiterated an “outperform” rating on shares of ResMed in a report on Monday, April 16th. Finally, UBS Group lowered shares of ResMed from a “buy” rating to a “neutral” rating in a report on Tuesday, April 24th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $77.33.
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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