ResMed Inc. (RMD) to Issue Quarterly Dividend of $0.60 on September 18th

ResMed Inc. (NYSE:RMD) announced a quarterly dividend on Thursday, July 31st, RTT News reports. Stockholders of record on Thursday, August 14th will be given a dividend of 0.60 per share by the medical equipment provider on Thursday, September 18th. This represents a c) dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, August 13th. This is a 13.2% increase from ResMed’s previous quarterly dividend of $0.53.

ResMed has a dividend payout ratio of 20.0% meaning its dividend is sufficiently covered by earnings. Analysts expect ResMed to earn $10.36 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 20.5%.

ResMed Stock Up 2.5%

Shares of RMD stock opened at $278.78 on Friday. The stock’s fifty day moving average price is $256.59 and its 200 day moving average price is $240.32. ResMed has a 1-year low of $199.92 and a 1-year high of $281.90. The company has a market cap of $40.88 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 1.69 and a beta of 0.77. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.41 and a quick ratio of 2.49.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. ResMed had a return on equity of 26.39% and a net margin of 27.22%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.08 earnings per share. On average, research analysts expect that ResMed will post 9.47 earnings per share for the current fiscal year.

Insider Activity at ResMed

In related news, Director Witte Jan De sold 2,000 shares of the business’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total value of $486,940.00. Following the completion of the transaction, the director directly owned 5,806 shares in the company, valued at $1,413,586.82. The trade was a 25.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $242.25, for a total transaction of $484,500.00. Following the sale, the director directly owned 71,218 shares in the company, valued at $17,252,560.50. This trade represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,013 shares of company stock worth $7,238,913. 0.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. New York Life Investment Management LLC grew its position in shares of ResMed by 0.3% during the 2nd quarter. New York Life Investment Management LLC now owns 21,906 shares of the medical equipment provider’s stock valued at $5,652,000 after acquiring an additional 75 shares during the period. Howard Capital Management Inc. purchased a new position in ResMed during the second quarter worth approximately $234,000. Motley Fool Asset Management LLC grew its holdings in ResMed by 8.8% in the second quarter. Motley Fool Asset Management LLC now owns 9,357 shares of the medical equipment provider’s stock valued at $2,414,000 after purchasing an additional 753 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in ResMed by 15.1% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 32,692 shares of the medical equipment provider’s stock valued at $8,435,000 after purchasing an additional 4,300 shares during the period. Finally, AustralianSuper Pty Ltd increased its position in shares of ResMed by 15.3% in the second quarter. AustralianSuper Pty Ltd now owns 311,406 shares of the medical equipment provider’s stock valued at $80,343,000 after buying an additional 41,226 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

About ResMed

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.