ResMed Inc. (NYSE:RMD) Announces Quarterly Dividend of $0.48

ResMed Inc. (NYSE:RMD) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Thursday, May 9th will be paid a dividend of 0.48 per share by the medical equipment provider on Thursday, June 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Wednesday, May 8th.

ResMed has increased its dividend by an average of 5.7% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. ResMed has a dividend payout ratio of 23.2% meaning its dividend is sufficiently covered by earnings. Analysts expect ResMed to earn $8.32 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 23.1%.

ResMed Stock Performance

Shares of RMD traded up $34.64 on Friday, reaching $218.06. 4,330,840 shares of the company’s stock traded hands, compared to its average volume of 1,052,924. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. The stock has a market cap of $32.07 billion, a PE ratio of 33.50, a PEG ratio of 2.26 and a beta of 0.67. The stock’s 50 day simple moving average is $187.07 and its two-hundred day simple moving average is $171.97. ResMed has a 52-week low of $132.24 and a 52-week high of $243.52.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. ResMed had a return on equity of 24.92% and a net margin of 20.91%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business posted $1.68 earnings per share. ResMed’s revenue was up 7.2% on a year-over-year basis. On average, analysts forecast that ResMed will post 7.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. KeyCorp increased their price objective on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a report on Friday. Royal Bank of Canada increased their price objective on ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a report on Friday. UBS Group raised their price target on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Finally, Mizuho reaffirmed a “buy” rating and issued a $215.00 price target on shares of ResMed in a report on Wednesday, March 27th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and an average price target of $202.80.

Insider Transactions at ResMed

In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the transaction, the general counsel now directly owns 6,688 shares of the company’s stock, valued at $1,158,696. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the transaction, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The disclosure for this sale can be found here. Insiders have sold a total of 11,216 shares of company stock valued at $2,046,617 in the last ninety days. 1.21% of the stock is currently owned by corporate insiders.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 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, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.