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ResMed (NYSE:RMD) saw unusually-high trading volume on Friday following a dividend announcement from the company, AmericanBankingNews.com reports. Approximately 2,529,278 shares changed hands during trading, an increase of 195% from the previous session’s volume of 858,575 shares.The stock last traded at $49.03 and had previously closed at $51.74.

The newly announced dividend is scheduled for Thursday, September 18th. Shareholders of record on Thursday, August 21st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Tuesday, August 19th. This is a positive change from ResMed’s previous quarterly dividend of $0.25.

RMD has been the subject of a number of recent research reports. Analysts at Piper Jaffray cut their price target on shares of ResMed from $55.00 to $53.00 in a research note on Friday. Separately, analysts at Canaccord Genuity cut their price target on shares of ResMed from $43.00 to $39.00 in a research note on Friday. Finally, analysts at Jefferies Group raised their price target on shares of ResMed from $40.00 to $42.00 in a research note on Friday. They now have a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $46.01.

The stock has a 50-day moving average of $50.70 and a 200-day moving average of $47.72. The company has a market cap of $6.972 billion and a price-to-earnings ratio of 22.70.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, July 31st. The company reported $0.64 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.66 by $0.02. The company had revenue of $415.20 million for the quarter, compared to the consensus estimate of $433.42 million. During the same quarter last year, the company posted $0.62 earnings per share. ResMed’s revenue was up .1% compared to the same quarter last year. On average, analysts predict that ResMed will post $2.49 earnings per share for the current fiscal year.

ResMed Inc, (NYSE:RMD) is a holding company for the ResMed Group.

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