ResMed Inc. (NYSE:RMD) Declares $0.60 Quarterly Dividend

ResMed Inc. (NYSE:RMD) declared a quarterly dividend on Thursday, April 30th. Stockholders of record on Thursday, May 14th will be given a dividend of 0.60 per share by the medical equipment provider on Thursday, June 18th. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, May 14th.

ResMed has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 13 consecutive years. ResMed has a payout ratio of 22.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ResMed to earn $12.10 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 19.8%.

ResMed Stock Down 6.7%

NYSE:RMD opened at $199.47 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. The stock has a market capitalization of $29.06 billion, a P/E ratio of 19.93, a P/E/G ratio of 1.40 and a beta of 0.93. The company’s 50-day simple moving average is $233.35 and its 200-day simple moving average is $246.69. ResMed has a fifty-two week low of $209.30 and a fifty-two week high of $293.81.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.07. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the firm earned $2.37 earnings per share. ResMed’s revenue was up 10.8% compared to the same quarter last year. On average, equities analysts anticipate that ResMed will post 11.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Citigroup lowered their price objective on shares of ResMed from $345.00 to $340.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Wall Street Zen cut shares of ResMed from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. JPMorgan Chase & Co. assumed coverage on shares of ResMed in a report on Wednesday, April 15th. They set an “overweight” rating for the company. Wells Fargo & Company lifted their price objective on ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a research note on Friday, January 30th. Finally, Weiss Ratings lowered ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 19th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $294.55.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.