ResMed Inc. Plans Quarterly Dividend of $0.35 (RMD)

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.

ResMed (NYSE:RMD) last issued its earnings results on Monday, January 22nd. The medical equipment provider reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.22. ResMed had a net margin of 16.58% and a return on equity of 21.53%. The business had revenue of $601.27 million for the quarter, compared to the consensus estimate of $583.77 million. During the same quarter last year, the firm posted $0.73 EPS. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. equities analysts forecast that ResMed will post 3.04 earnings per share for the current fiscal year.

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.

Dividend History for ResMed (NYSE:RMD)

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