ResMed Inc. (NYSE:RMD – Get Free Report) declared a quarterly dividend on Thursday, August 6th. Shareholders of record on Thursday, August 20th will be paid a dividend of 0.66 per share by the medical equipment provider on Thursday, September 24th. This represents a c) annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 20th. This is a 10.0% increase from ResMed’s previous quarterly dividend of $0.60.
ResMed has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 13 years. ResMed has a dividend payout ratio of 22.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect ResMed to earn $12.02 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 20.0%.
ResMed Trading Down 7.3%
Shares of RMD stock traded down $16.36 during mid-day trading on Friday, hitting $206.88. 2,176,155 shares of the company’s stock were exchanged, compared to its average volume of 1,296,391. The stock has a market cap of $30.01 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 1.36 and a beta of 0.76. The stock has a 50-day simple moving average of $200.06 and a two-hundred day simple moving average of $222.30. ResMed has a fifty-two week low of $180.26 and a fifty-two week high of $293.81. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06.
Analysts Set New Price Targets
A number of analysts have recently commented on RMD shares. The Goldman Sachs Group reissued a “buy” rating on shares of ResMed in a research note on Wednesday, July 1st. JPMorgan Chase & Co. initiated coverage on ResMed in a report on Wednesday, April 15th. They issued an “overweight” rating on the stock. UBS Group reissued a “buy” rating and issued a $300.00 price target on shares of ResMed in a research note on Tuesday, July 21st. Evercore set a $255.00 price objective on shares of ResMed and gave the company an “outperform” rating in a research note on Monday, April 13th. Finally, Wells Fargo & Company cut their target price on ResMed from $225.00 to $215.00 and set an “equal weight” rating for the company in a research report on Friday. Seven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $239.33.
View Our Latest Stock Analysis on ResMed
About ResMed
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.
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