Psagot Investment House Ltd. Lowers stake in ResMed (RMD)

ResMed (RMD) : Psagot Investment House Ltd. reduced its stake in ResMed by 2.53% during the most recent quarter end. The investment management company now holds a total of 78,950 shares of ResMed which is valued at $5,566,765 after selling 2,050 shares in ResMed , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.ResMed makes up approximately 0.23% of Psagot Investment House Ltd.’s portfolio.

Other Hedge Funds, Including , Trust Investment Advisors reduced its stake in RMD by selling 500 shares or 3.93% in the most recent quarter. The Hedge Fund company now holds 12,225 shares of RMD which is valued at $861,985. ResMed makes up approx 0.96% of Trust Investment Advisors’s portfolio. Veritas Asset Management Llp added RMD to its portfolio by purchasing 100,000 company shares during the most recent quarter which is valued at $6,880,000. ResMed makes up approx 0.07% of Veritas Asset Management Llp’s portfolio.American Research Management boosted its stake in RMD in the latest quarter, The investment management firm added 1,650 additional shares and now holds a total of 4,590 shares of ResMed which is valued at $316,159. ResMed makes up approx 0.12% of American Research Management’s portfolio.Shinko Asset Management Ltd. reduced its stake in RMD by selling 500 shares or 22.39% in the most recent quarter. The Hedge Fund company now holds 1,733 shares of RMD which is valued at $114,257.

ResMed closed down -0.61 points or -0.88% at $68.48 with 11,98,940 shares getting traded on Wednesday. Post opening the session at $69.09, the shares hit an intraday low of $68.44 and an intraday high of $69.66 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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 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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