ResMed Inc. (NYSE:RMD) declared a quarterly dividend on Monday, January 22nd, RTT News reports. Stockholders of record on Thursday, February 8th will be paid a dividend of 0.35 per share by the medical equipment provider on Thursday, March 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.60%.
ResMed has increased its dividend payment by an average of 8.7% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. ResMed has a payout ratio of 46.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect ResMed to earn $3.40 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 41.2%.
Shares of ResMed (NYSE:RMD) traded down $1.17 during mid-day trading on Monday, hitting $87.51. 1,093,240 shares of the stock were exchanged, compared to its average volume of 559,439. ResMed has a fifty-two week low of $62.64 and a fifty-two week high of $89.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.86 and a current ratio of 4.72. The stock has a market cap of $12,420.00, a P/E ratio of 35.43, a PEG ratio of 2.24 and a beta of 0.78.
In related news, Director Peter C. Farrell sold 20,000 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $83.53, for a total transaction of $1,670,600.00. Following the completion of the sale, the director now directly owns 314,800 shares of the company’s stock, valued at approximately $26,295,244. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David Pendarvis sold 6,364 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $82.20, for a total transaction of $523,120.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 158,929 shares of company stock valued at $13,181,009. Company insiders own 1.77% of the company’s stock.
A number of equities analysts have recently commented on the stock. Zacks Investment Research downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research note on Friday. BMO Capital Markets raised their target price on shares of ResMed to $82.00 and gave the company a “market perform” rating in a research note on Tuesday, December 12th. JPMorgan Chase & Co. raised their price target on shares of ResMed from $72.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, October 30th. Barclays raised their price target on shares of ResMed from $68.00 to $70.00 and gave the company an “underweight” rating in a report on Friday, October 27th. Finally, Northland Securities reaffirmed a “sell” rating and set a $55.00 price target on shares of ResMed in a report on Friday, October 27th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. ResMed currently has a consensus rating of “Hold” and an average price target of $70.57.
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ResMed Company Profile
ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
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