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

ResMed Inc. (NYSE:RMD) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Investors of record on Thursday, February 13th will be given 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 yield of 0.90%. The ex-dividend date is Thursday, February 13th.

ResMed has raised its dividend payment 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 payout ratio of 20.4% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Down 8.1 %

RMD traded down $20.99 during trading on Friday, reaching $236.66. The company had a trading volume of 2,599,230 shares, compared to its average volume of 967,754. The company has a market cap of $34.74 billion, a P/E ratio of 31.35, a PEG ratio of 1.83 and a beta of 0.70. ResMed has a 12 month low of $170.56 and a 12 month high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The business’s fifty day moving average price is $240.32 and its 200 day moving average price is $235.99.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 23.15% and a return on equity of 25.53%. Equities analysts anticipate that ResMed will post 9.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. KeyCorp increased their price objective on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday. The Goldman Sachs Group assumed coverage on shares of ResMed in a research report on Thursday, January 16th. They issued a “buy” rating on the stock. Royal Bank of Canada increased their price target on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Piper Sandler boosted their price objective on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday. Finally, JPMorgan Chase & Co. boosted their price target on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $244.73.

Insider Transactions at ResMed

In related news, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction on 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the company’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 completion of the transaction, the director now directly owns 81,218 shares of the company’s stock, valued at approximately $19,951,201.70. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,030 shares of company stock valued at $2,702,687. 0.71% of the stock is currently owned by insiders.

ResMed Company Profile

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.