Hsbc Holdings PLC Acquires Shares of 12,598 Electromed, Inc. $ELMD

Hsbc Holdings PLC acquired a new stake in shares of Electromed, Inc. (NYSE:ELMD) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 12,598 shares of the company’s stock, valued at approximately $358,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ELMD. Millennium Management LLC lifted its position in Electromed by 362.7% in the 1st quarter. Millennium Management LLC now owns 194,519 shares of the company’s stock valued at $4,641,000 after acquiring an additional 152,480 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Electromed by 20.1% during the 1st quarter. NewEdge Advisors LLC now owns 17,952 shares of the company’s stock worth $428,000 after purchasing an additional 3,001 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Electromed by 9.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 32,281 shares of the company’s stock worth $770,000 after purchasing an additional 2,672 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Electromed by 136.3% in the first quarter. Jane Street Group LLC now owns 56,263 shares of the company’s stock worth $1,342,000 after purchasing an additional 32,456 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Electromed by 128.3% in the second quarter. Geode Capital Management LLC now owns 155,540 shares of the company’s stock worth $3,421,000 after purchasing an additional 87,401 shares during the last quarter. 40.82% of the stock is owned by institutional investors.

Insider Buying and Selling at Electromed

In related news, CFO Bradley M. Nagel sold 11,801 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $36.35, for a total transaction of $428,966.35. Following the sale, the chief financial officer directly owned 19,638 shares in the company, valued at approximately $713,841.30. This represents a 37.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO James L. Cunniff sold 9,700 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $36.50, for a total value of $354,050.00. Following the sale, the chief executive officer owned 147,751 shares in the company, valued at approximately $5,392,911.50. This represents a 6.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,501 shares of company stock valued at $2,202,216 over the last three months. 10.50% of the stock is currently owned by insiders.

Electromed Stock Down 1.6%

Electromed stock opened at $42.10 on Friday. The firm has a 50 day moving average price of $39.25 and a 200-day moving average price of $30.59. Electromed, Inc. has a twelve month low of $17.73 and a twelve month high of $47.40. The company has a market capitalization of $348.59 million, a P/E ratio of 56.13 and a beta of 0.50.

Analyst Upgrades and Downgrades

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

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.