ResMed Inc. (RMD) To Go Ex-Dividend on May 8th

ResMed Inc. (NYSE:RMD) 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 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Wednesday, May 8th.

ResMed has increased its dividend payment by an average of 5.7% annually over the last three years and has increased its dividend every year for the last 12 years. ResMed has a payout ratio of 22.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ResMed to earn $8.58 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 22.4%.

ResMed Stock Performance

Shares of RMD opened at $216.98 on Monday. The stock has a 50-day moving average of $190.52 and a two-hundred day moving average of $174.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04. The stock has a market cap of $31.88 billion, a P/E ratio of 33.33, a P/E/G ratio of 2.68 and a beta of 0.64. ResMed has a one year low of $132.24 and a one year high of $237.26.

ResMed (NYSE:RMD) last released its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.68 earnings per share. As a group, research analysts predict that ResMed will post 7.59 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RMD. Royal Bank of Canada upped their price objective on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. Oppenheimer lowered their price target on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. JPMorgan Chase & Co. lifted their price objective on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. UBS Group boosted their price objective on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Finally, Mizuho reaffirmed a “buy” rating and set a $215.00 target price on shares of ResMed in a report on Wednesday, March 27th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $202.80.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was 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 directly owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The sale was disclosed in a filing with the SEC, which is available at this link. In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction 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 transaction, the director now directly owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Karen Drexler sold 425 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $214.92, for a total transaction of $91,341.00. Following the sale, the director now directly owns 8,446 shares of the company’s stock, valued at approximately $1,815,214.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,641 shares of company stock worth $2,137,958. 1.21% of the stock is owned by corporate insiders.

About ResMed

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.