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

ResMed Inc. (NYSE:RMD - Get Free Report) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Thursday, May 9th will be given 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 is Wednesday, May 8th.

ResMed has raised its dividend by an average of 5.7% per year over the last three years and has increased its dividend annually for the last 12 consecutive years. ResMed has a dividend payout ratio of 23.2% indicating that its dividend is sufficiently covered by earnings. Equities 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

RMD stock traded up $34.64 during mid-day trading on Friday, hitting $218.06. The company had a trading volume of 4,330,840 shares, compared to its average volume of 1,052,924. The firm has a market cap of $32.07 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 2.26 and a beta of 0.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11. ResMed has a 12 month low of $132.24 and a 12 month high of $243.52. The stock's fifty day moving average price is $187.07 and its two-hundred day moving average price is $172.12.

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

Analysts Set New Price Targets

RMD has been the subject of several recent research reports. Needham & Company LLC lifted their target price on shares of ResMed from $224.00 to $236.00 and gave the stock a "buy" rating in a research note on Friday. UBS Group lifted their target price on shares of ResMed from $175.00 to $180.00 and gave the stock a "neutral" rating in a research note on Thursday, January 25th. Oppenheimer reduced their target price on shares of ResMed from $205.00 to $200.00 and set an "outperform" rating for the company in a research note on Friday. KeyCorp lifted their target price on shares of ResMed from $227.00 to $238.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, Mizuho reiterated a "buy" rating and issued a $215.00 target price on shares of ResMed in a research note on Wednesday, March 27th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $202.80.

Insider Activity at ResMed

In related news, 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 transaction of $1,997,387.10. Following the completion of the transaction, the director now owns 157,404 shares of the company's stock, valued at $28,751,414.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other ResMed news, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the sale, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction that occurred 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 sale, the general counsel now owns 6,688 shares of the company's stock, valued at $1,158,696. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,216 shares of company stock valued at $2,046,617. Corporate insiders own 1.21% of the company's stock.

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.