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. Shareholders 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 annualized dividend and a dividend 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 annually for the last 12 consecutive 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 %

Shares of RMD stock traded down $20.99 on Friday, reaching $236.66. 2,597,505 shares of the stock were exchanged, compared to its average volume of 967,641. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average price is $240.32 and its 200 day moving average price is $235.99. The company has a market capitalization of $34.74 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 1.83 and a beta of 0.70. ResMed has a twelve month low of $170.56 and a twelve month high of $263.05.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS 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%. As a group, sell-side analysts expect that ResMed will post 9.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

RMD has been the subject of a number of analyst reports. Piper Sandler boosted their target price on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. boosted their price target on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday. The Goldman Sachs Group assumed coverage on shares of ResMed in a report on Thursday, January 16th. They set a “buy” rating for the company. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday. Finally, Royal Bank of Canada increased their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the transaction, the director now owns 81,218 shares of the company’s stock, valued at approximately $19,951,201.70. This trade represents a 2.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Justin Leong sold 6,160 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 21,718 shares in the company, valued at approximately $5,279,428.62. This represents a 22.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,030 shares of company stock valued at $2,702,687 over the last quarter. Company insiders own 0.71% of the company’s stock.

About ResMed

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.