ResMed Inc. (RMD) To Go Ex-Dividend on February 13th

ResMed Inc. (NYSE:RMD) declared a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders of record on Thursday, February 13th will be given a dividend of 0.53 per share by the medical equipment provider on Thursday, March 20th. This represents a $2.12 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, February 13th.

ResMed has raised its dividend by an average of 7.6% annually over the last three years and has raised its dividend every year for the last 12 years. ResMed has a dividend payout ratio of 20.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ResMed to earn $10.35 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 20.5%.

ResMed Stock Up 0.7 %

RMD opened at $238.56 on Tuesday. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed has a 1-year low of $170.56 and a 1-year high of $263.05. The company has a market capitalization of $35.04 billion, a PE ratio of 28.17, a PEG ratio of 1.57 and a beta of 0.70. The firm’s 50 day simple moving average is $239.18 and its two-hundred day simple moving average is $237.81.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, equities analysts forecast that ResMed will post 9.44 EPS for the current year.

Insider Buying and Selling

In other ResMed news, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the sale, the insider now directly owns 21,718 shares in the company, valued at $5,279,428.62. This trade represents a 22.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the sale, the director now owns 81,218 shares of the company’s stock, valued at approximately $19,951,201.70. This represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,298 shares of company stock worth $2,506,889. Insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

RMD has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, January 31st. KeyCorp boosted their price objective on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $244.73.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.