ResMed Inc. Announces Quarterly Dividend of $0.53 (NYSE:RMD)

ResMed Inc. (NYSE:RMD) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Stockholders of record on Thursday, February 13th will be paid a dividend of 0.53 per share by the medical equipment provider on Thursday, March 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date 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 20.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ResMed to earn $10.30 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 20.6%.

ResMed Stock Performance

Shares of NYSE:RMD opened at $236.66 on Friday. ResMed has a twelve month low of $170.56 and a twelve month high of $263.05. The firm has a market cap of $34.74 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 1.83 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The business has a fifty day moving average of $240.32 and a 200-day moving average of $235.99.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 25.53% and a net margin of 23.15%. On average, equities research analysts predict that ResMed will post 9.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. KeyCorp raised their price target on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday. JPMorgan Chase & Co. raised their price target on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday. Piper Sandler raised their price target on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday. Finally, StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and an average target price of $244.73.

Insider Transactions at ResMed

In other news, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the sale, the director now owns 6,723 shares of the company’s stock, valued at $1,672,749.63. This trade represents a 10.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total value of $491,300.00. Following the sale, the director now directly owns 81,218 shares in the company, valued at approximately $19,951,201.70. This represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,030 shares of company stock valued at $2,702,687 over the last 90 days. 0.71% of the stock is owned by company 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.