Callan Capital Lowers stake in ResMed (RMD)

ResMed (RMD) : Callan Capital reduced its stake in ResMed by 21.6% during the most recent quarter end. The investment management company now holds a total of 16,183 shares of ResMed which is valued at $1,139,607 after selling 4,458 shares in ResMed , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.ResMed makes up approximately 0.44% of Callan Capital’s portfolio.

Other Hedge Funds, Including , Profund Advisors boosted its stake in RMD in the latest quarter, The investment management firm added 366 additional shares and now holds a total of 18,726 shares of ResMed which is valued at $1,318,685. ResMed makes up approx 0.06% of Profund Advisors’s portfolio. Secor Capital Advisors Lp sold out all of its stake in RMD during the most recent quarter. The investment firm sold 56,057 shares of RMD which is valued $3,952,579.Dimensional Fund Advisors Lp boosted its stake in RMD in the latest quarter, The investment management firm added 877 additional shares and now holds a total of 338,783 shares of ResMed which is valued at $23,907,916. ResMed makes up approx 0.01% of Dimensional Fund Advisors Lp’s portfolio. Airain Ltd added RMD to its portfolio by purchasing 54,433 company shares during the most recent quarter which is valued at $3,802,145. ResMed makes up approx 0.22% of Airain Ltd’s portfolio.

ResMed closed down -1.13 points or -1.64% at $67.9 with 17,34,827 shares getting traded on Monday. Post opening the session at $65.65, the shares hit an intraday low of $65.65 and an intraday high of $68.19 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, ResMed reported $0.74 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $0.75. The company had revenue of $518.60 million for the quarter, compared to analysts expectations of $514.35 million. The company’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS.

Many Wall Street Analysts have commented on ResMed. ResMed was Downgraded by Jefferies to ” Underperform” on Aug 23, 2016. ResMed was Downgraded by Needham to ” Underperform” on Jun 27, 2016.

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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