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

ResMed Inc. (NYSE:RMD) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders 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 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Wednesday, May 8th.

ResMed has increased its dividend payment by an average of 5.7% per year over the last three years and has raised its dividend every year for the last 12 years. ResMed has a payout ratio of 23.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect ResMed to earn $8.32 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 23.1%.

ResMed Stock Up 18.9 %

Shares of RMD traded up $34.64 during mid-day trading on Friday, hitting $218.06. 4,330,840 shares of the company’s stock were exchanged, compared to its average volume of 1,052,924. The firm has a fifty day moving average of $187.07 and a two-hundred day moving average of $171.97. ResMed has a twelve month low of $132.24 and a twelve month high of $243.52. The stock has a market cap of $32.07 billion, a price-to-earnings ratio of 33.50, a P/E/G ratio of 2.26 and a beta of 0.67. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, topping the consensus estimate of $1.91 by $0.22. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.92%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.68 EPS. On average, sell-side analysts forecast that ResMed will post 7.44 earnings per share for the current year.

Insider Buying and Selling at ResMed

In other news, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction dated 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 sale, the director now 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 available at the SEC website. In related news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the sale, the general counsel now owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the transaction, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,216 shares of company stock valued at $2,046,617. 1.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

RMD has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price objective on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. KeyCorp lifted their target price on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research report on Friday. Needham & Company LLC increased their price target on shares of ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday. UBS Group upped their price objective on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Finally, Mizuho reissued a “buy” rating and issued a $215.00 target price on shares of ResMed in a report on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $202.80.

ResMed Company Profile

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.