ResMed Inc. (NYSE:RMD) announced a quarterly dividend on Thursday, October 26th, RTT News reports. Investors of record on Thursday, November 9th will be paid a dividend of 0.35 per share by the medical equipment provider on Thursday, December 14th. This represents a $1.40 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Wednesday, November 8th.
ResMed has raised its dividend payment by an average of 14.5% annually over the last three years. ResMed has a payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ResMed to earn $3.35 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 41.8%.
ResMed (NYSE RMD) traded up $0.34 during trading hours on Friday, reaching $83.06. 374,800 shares of the company’s stock were exchanged, compared to its average volume of 872,883. The company has a current ratio of 4.72, a quick ratio of 3.86 and a debt-to-equity ratio of 0.50. The stock has a market cap of $11,738.29, a PE ratio of 28.82, a P/E/G ratio of 1.84 and a beta of 0.79. ResMed has a one year low of $57.45 and a one year high of $87.81.
ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.66 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.66. ResMed had a net margin of 16.58% and a return on equity of 21.53%. The company had revenue of $523.66 million during the quarter, compared to analysts’ expectations of $506.08 million. During the same period in the prior year, the company posted $0.62 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. analysts predict that ResMed will post 3 earnings per share for the current year.
In related news, insider David Pendarvis sold 6,364 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $77.21, for a total transaction of $491,364.44. Following the completion of the sale, the insider now directly owns 93,172 shares in the company, valued at $7,193,810.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peter C. Farrell sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $83.53, for a total transaction of $1,670,600.00. Following the sale, the director now owns 314,800 shares of the company’s stock, valued at $26,295,244. The disclosure for this sale can be found here. Insiders have sold 82,842 shares of company stock worth $6,548,619 in the last quarter. Company insiders own 1.77% of the company’s stock.
Several equities analysts have recently commented on RMD shares. Needham & Company LLC reaffirmed a “sell” rating on shares of ResMed in a research report on Friday, October 27th. BMO Capital Markets increased their price target on shares of ResMed from $70.00 to $74.00 and gave the stock a “market perform” rating in a research report on Friday, October 27th. Zacks Investment Research cut shares of ResMed from a “buy” rating to a “sell” rating in a report on Tuesday, October 24th. J P Morgan Chase & Co raised their target price on shares of ResMed from $72.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. Finally, Barclays PLC raised their target price on shares of ResMed from $68.00 to $70.00 and gave the stock an “underweight” rating in a report on Friday, October 27th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $67.57.
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ResMed Company Profile
ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
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