ResMed Inc. (RMD) To Go Ex-Dividend on November 7th

ResMed Inc. (NYSE:RMD) announced a quarterly dividend on Thursday, October 24th, Wall Street Journal reports. Shareholders of record on Thursday, November 7th will be paid a dividend of 0.53 per share by the medical equipment provider on Thursday, December 12th. This represents a $2.12 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, November 7th.

ResMed has increased its dividend payment by an average of 5.7% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. ResMed has a payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ResMed to earn $10.01 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 21.2%.

ResMed Trading Down 0.3 %

NYSE:RMD opened at $243.61 on Tuesday. ResMed has a one year low of $140.81 and a one year high of $260.49. The business’s 50-day simple moving average is $242.99 and its 200 day simple moving average is $220.75. 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 market cap of $35.76 billion, a price-to-earnings ratio of 32.27, a price-to-earnings-growth ratio of 1.79 and a beta of 0.69.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. ResMed’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.64 EPS. As a group, sell-side analysts predict that ResMed will post 9.22 earnings per share for the current fiscal year.

Insider Activity at ResMed

In other news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $212.16, for a total transaction of $212,160.00. Following the transaction, the chief financial officer now owns 89,056 shares of the company’s stock, valued at approximately $18,894,120.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $214.25, for a total value of $3,145,832.75. Following the transaction, the chief executive officer now owns 440,799 shares in the company, valued at $94,441,185.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brett Sandercock sold 1,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $212.16, for a total value of $212,160.00. Following the completion of the sale, the chief financial officer now directly owns 89,056 shares in the company, valued at approximately $18,894,120.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,874 shares of company stock valued at $17,731,782. 0.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RMD shares. KeyCorp raised their target price on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Bank of America raised their target price on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Robert W. Baird raised their target price on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Wolfe Research reiterated an “underperform” rating and set a $180.00 price target on shares of ResMed in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada lifted their price target on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $225.70.

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.