Pensionfund Sabic Lowers stake in ResMed (RMD)

ResMed (RMD) : Pensionfund Sabic reduced its stake in ResMed by 10.77% during the most recent quarter end. The investment management company now holds a total of 23,200 shares of ResMed which is valued at $1.4 Million after selling 2,800 shares in ResMed according to a report filed by the company on Apr 4, 2016 with the SEC.ResMed makes up approximately 0.42% of Pensionfund Sabic’s portfolio.

Other Hedge Funds, Including , Beacon Financial Group sold out all of its stake in RMD during the most recent quarter. The investment firm sold 4,000 shares of RMD which is valued $235,960.

On the company’s financial health, ResMed reported $0.69 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jan 21, 2016. Analyst had a consensus of $0.66. The company had revenue of $454.54 million for the quarter, compared to analysts expectations of $445.47 million. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS.

Many Wall Street Analysts have commented on ResMed. Barclays Resumed ResMed on Apr 7, 2016 to “Underweight”, Price Target of the shares are set at $55.ResMed was Upgraded by Credit Suisse to ” Outperform” on Jan 22, 2016. Shares were Downgraded by Barclays on Jan 19, 2016 to ” Underweight” and Lowered the Price Target to $ 52 from a previous price target of $61 .

ResMed opened for trading at $58.7 and hit $59.05 on the upside on Monday, eventually ending the session at $58.72, with a gain of 0.24% or 0.14 points. The heightened volatility saw the trading volume jump to 4,47,184 shares. Company has a market cap of $8,223 M.

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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