Hsbc Holdings PLC Takes $358,000 Position in Electromed, Inc. $ELMD

Hsbc Holdings PLC purchased a new position in shares of Electromed, Inc. (NYSE:ELMD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,598 shares of the company’s stock, valued at approximately $358,000. Hsbc Holdings PLC owned about 0.15% of Electromed as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its position in Electromed by 717.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 106,005 shares of the company’s stock worth $3,087,000 after acquiring an additional 93,030 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Electromed during the fourth quarter worth approximately $43,000. Wells Fargo & Company MN grew its position in shares of Electromed by 44.5% in the fourth quarter. Wells Fargo & Company MN now owns 7,595 shares of the company’s stock valued at $221,000 after purchasing an additional 2,340 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new position in shares of Electromed in the fourth quarter valued at approximately $204,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Electromed in the second quarter valued at approximately $103,000. Institutional investors own 40.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ELMD. Zacks Research cut Electromed from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. B. Riley Financial upped their price objective on Electromed from $38.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

Electromed Trading Down 1.6%

Shares of NYSE:ELMD opened at $42.10 on Friday. The firm has a 50 day moving average of $39.25 and a 200-day moving average of $30.59. Electromed, Inc. has a 12 month low of $17.73 and a 12 month high of $47.40. The stock has a market capitalization of $348.59 million, a PE ratio of 56.13 and a beta of 0.50.

Insider Buying and Selling

In related news, Director Kathleen Skarvan sold 40,000 shares of Electromed stock in a transaction on Friday, May 15th. The shares were sold at an average price of $35.48, for a total transaction of $1,419,200.00. Following the completion of the transaction, the director owned 35,622 shares of the company’s stock, valued at $1,263,868.56. This trade represents a 52.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Bradley M. Nagel sold 11,801 shares of Electromed stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $36.35, for a total value of $428,966.35. Following the completion of the transaction, the chief financial officer directly owned 19,638 shares of the company’s stock, valued at approximately $713,841.30. This trade represents a 37.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 61,501 shares of company stock valued at $2,202,216 in the last three months. Insiders own 10.50% of the company’s stock.

Electromed Company Profile

Electromed Inc (NYSE: ELMD) develops and manufactures sleep therapy products designed to support individuals with breathing disorders such as obstructive sleep apnea. The company’s core business activities include the design, production and distribution of continuous positive airway pressure (CPAP) and bilevel positive airway pressure (BiPAP) accessories. Electromed’s focus on supplying both disposable and reusable components allows durable medical equipment providers to offer comprehensive therapy solutions to patients.

The company’s product portfolio encompasses masks, mask cushions, headgear, tubing, filters and humidification components.