ResMed Inc. (RMD) To Go Ex-Dividend on August 20th

ResMed Inc. (NYSE:RMD) announced a quarterly dividend on Thursday, August 6th. Stockholders 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 dividend yield of 1.2%. The ex-dividend date is Thursday, August 20th. This is a 10.0% increase from ResMed’s previous quarterly dividend of $0.60.

ResMed has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 13 years. ResMed has a payout ratio of 22.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect ResMed to earn $13.08 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 18.3%.

ResMed Stock Down 5.1%

Shares of ResMed stock opened at $211.84 on Friday. ResMed has a 1-year low of $180.26 and a 1-year high of $293.81. The company has a market capitalization of $30.73 billion, a PE ratio of 20.31, a P/E/G ratio of 1.36 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The business has a 50-day moving average of $200.49 and a 200-day moving average of $222.23.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.89 by $0.06. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. ResMed had a return on equity of 25.86% and a net margin of 26.94%.The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.55 earnings per share. As a group, equities analysts forecast that ResMed will post 12.02 EPS for the current fiscal year.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total value of $1,090,783.05. Following the completion of the transaction, the chief executive officer owned 466,223 shares in the company, valued at approximately $101,893,036.65. This trade represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 8,000 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the director owned 52,773 shares of the company’s stock, valued at approximately $11,873,925. This trade represents a 13.16% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 17,982 shares of company stock worth $3,858,837 in the last 90 days. 0.65% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Terra Nova Asset Management LLC increased its holdings in ResMed by 0.6% during the 3rd quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock worth $2,136,000 after acquiring an additional 46 shares during the period. Kera Capital Partners Inc. boosted its holdings in ResMed by 6.6% in the 4th quarter. Kera Capital Partners Inc. now owns 841 shares of the medical equipment provider’s stock valued at $217,000 after purchasing an additional 52 shares during the period. Andina Capital Management LLC grew its position in shares of ResMed by 2.9% during the 4th quarter. Andina Capital Management LLC now owns 1,988 shares of the medical equipment provider’s stock valued at $479,000 after purchasing an additional 56 shares in the last quarter. Turtle Creek Wealth Advisors LLC grew its position in shares of ResMed by 6.2% during the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 994 shares of the medical equipment provider’s stock valued at $223,000 after purchasing an additional 58 shares in the last quarter. Finally, Stratos Wealth Partners LTD. grew its position in shares of ResMed by 4.6% during the 4th quarter. Stratos Wealth Partners LTD. now owns 1,355 shares of the medical equipment provider’s stock valued at $326,000 after purchasing an additional 59 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

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.