Allspring Global Investments Holdings LLC Has $3.09 Million Stock Position in Electromed, Inc. $ELMD

Key Points

• Allspring Global Investments increased its stake in Electromed by 717% in Q4, now owning 106,005 shares worth about $3.09 million, or roughly 1.27% of the company.
• Several other institutions have also boosted positions — Millennium Management (+362.7% to 194,519 shares), Jane Street (+136.3%) and Geode (+128.3%) — leaving institutional ownership at about 40.82%.
• Electromed trades near $23.78 with a market cap of about $196.8M and a PE of 31.7; analysts have an average Buy consensus with a mean target price of $36.67.

Allspring Global Investments Holdings LLC raised its holdings in Electromed, Inc. (NYSE:ELMD - Free Report) by 717.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 106,005 shares of the company's stock after acquiring an additional 93,030 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.27% of Electromed worth $3,087,000 as of its most recent SEC filing.

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

Electromed Stock Up 0.7%

Electromed stock opened at $23.78 on Wednesday. The company has a market capitalization of $196.78 million, a PE ratio of 31.71 and a beta of 0.32. The firm's fifty day moving average is $25.02 and its 200 day moving average is $25.99. Electromed, Inc. has a 12-month low of $17.73 and a 12-month high of $30.73.

Wall Street Analyst Weigh In

ELMD has been the subject of several research analyst reports. Zacks Research lowered Electromed from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 29th. Roth Mkm reiterated a "buy" rating and issued a $38.00 target price on shares of Electromed in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Electromed has an average rating of "Buy" and a consensus target price of $36.67.

Electromed 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.

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