Callan Capital Lowers stake in ResMed (RMD)

ResMed (RMD) : Callan Capital reduced its stake in ResMed by 17.9% during the most recent quarter end. The investment management company now holds a total of 20,641 shares of ResMed which is valued at $1.2 Million after selling 4,500 shares in ResMed , the firm said in a disclosure report filed with the SEC on May 11, 2016.ResMed makes up approximately 0.51% of Callan Capital’s portfolio.

Other Hedge Funds, Including , Teacher Retirement System Of Texas boosted its stake in RMD in the latest quarter, The investment management firm added 27,085 additional shares and now holds a total of 30,509 shares of ResMed which is valued at $1.8 Million. ResMed makes up approx 0.01% of Teacher Retirement System Of Texas’s portfolio.Proshare Advisors reduced its stake in RMD by selling 1,666 shares or 9.21% in the most recent quarter. The Hedge Fund company now holds 16,430 shares of RMD which is valued at $927,966. ResMed makes up approx 0.01% of Proshare Advisors’s portfolio.

ResMed opened for trading at $57.59 and hit $58.33 on the upside on Monday, eventually ending the session at $58.09, with a gain of 1.13% or 0.65 points. The heightened volatility saw the trading volume jump to 5,94,968 shares. Company has a market cap of $8,156 M.

On the company’s financial health, ResMed reported $0.68 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus of $0.69. The company had revenue of $453.88 million for the quarter, compared to analysts expectations of $455.94 million. The company’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS.

Many Wall Street Analysts have commented on ResMed. ResMed was Upgraded by Macquarie to ” Neutral” on Apr 28, 2016. ResMed was Downgraded by Piper Jaffray to ” Neutral” on Apr 27, 2016. Barclays Resumed ResMed on Apr 7, 2016 to “Underweight”, Price Target of the shares are set at $55.

ResMed Inc. is engaged in the development manufacturing distribution and marketing of medical products for the diagnosis treatment and management of respiratory disorders with a focus on sleep-disordered breathing (SDB). The Company develops various products for SDB and other respiratory disorders including airflow generators diagnostic products mask systems headgear and other accessories. It produces continuous positive airway pressure variable positive airway pressure and AutoSet systems for the titration and treatment of SDB. Its products also include S9 Escape AirSense 10 Elite AirSense 10 CPAP S9 VPAP S S9 VPAP ST S9 VPAP Adapt S9 VPAP ST-A S9 VPAP COPD and AirCurve 10 V Auto among others. It markets sleep recorders for the diagnosis and titration of SDB in sleep clinics and hospitals. Its products include Quattro FX Swift FX for Her Mirage FX for Her Pixi Pediatric Mask Quattro FX for Her Swift FX Bella Swift FX Nano AirFit N10 and Apnealink Air.

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