ResMed Inc. (RMD) to Issue Quarterly Dividend of $0.53 on June 12th

ResMed Inc. (NYSE:RMD) declared a quarterly dividend on Thursday, April 24th, Wall Street Journal reports. Shareholders of record on Thursday, May 8th will be given a dividend of 0.53 per share by the medical equipment provider on Thursday, June 12th. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Thursday, May 8th.

ResMed has raised its dividend by an average of 7.6% 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 20.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ResMed to earn $10.36 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 Price Performance

Shares of RMD stock opened at $235.79 on Friday. The firm’s 50-day moving average is $221.92 and its two-hundred day moving average is $234.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The company has a market capitalization of $34.63 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. ResMed has a 12 month low of $179.42 and a 12 month high of $263.05.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.37. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Analysts predict that ResMed will post 9.47 earnings per share for the current year.

Analysts Set New Price Targets

RMD has been the topic of several recent research reports. Citigroup upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. StockNews.com cut shares of ResMed from a “buy” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus decreased their price target on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. JPMorgan Chase & Co. increased their price objective on shares of ResMed from $286.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Royal Bank of Canada boosted their target price on shares of ResMed from $247.00 to $255.00 and gave the stock a “sector perform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and an average price target of $254.31.

Insider Activity

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the sale, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,013 shares of company stock worth $11,298,816. 0.71% of the stock is owned by corporate insiders.

About ResMed

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.