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

ResMed Inc. (NYSE:RMD) declared a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Investors of record on Thursday, February 13th will be paid 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 increased its dividend 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. 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 %

NYSE:RMD traded down $20.99 during trading hours on Friday, reaching $236.66. The company’s stock had a trading volume of 2,597,505 shares, compared to its average volume of 967,641. The company has a market capitalization of $34.74 billion, a P/E ratio of 31.35, a price-to-earnings-growth 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 quick ratio of 1.91 and a current ratio of 2.92. The stock has a 50 day moving average price of $240.32 and a two-hundred day moving average price of $235.99.

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

Analyst Ratings Changes

RMD has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday. Robert W. Baird boosted their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Piper Sandler boosted their price objective on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday. Finally, KeyCorp upped their price target on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $244.73.

Insiders Place Their Bets

In other news, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the sale, the insider now owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. The trade was a 22.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Witte Jan De sold 796 shares of ResMed stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the sale, the director now directly owns 6,723 shares in the company, valued at approximately $1,672,749.63. The trade was a 10.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,030 shares of company stock valued at $2,702,687 in the last ninety days. 0.71% of the stock is currently owned by corporate 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.