Allspring Global Investments Holdings LLC Has $906,000 Stake in Electromed, Inc. $ELMD

Key Points

• Allspring Global Investments cut its Electromed stake by 63.5% in the first quarter, selling 67,289 shares and retaining 38,716 shares worth approximately $906,000. Institutional investors collectively own 40.82% of the company.
• Electromed shares opened at $39.86, near the $40.04 50-day moving average, with a market capitalization of $330 million and a price-to-earnings ratio of 53.15. The stock has traded between $17.73 and $47.40 over the past year.
• Insiders sold 61,501 shares worth about $2.2 million during the past 90 days. Analysts maintain a “Moderate Buy” consensus, with three Buy ratings, one Hold rating and an average price target of $37.50.

Allspring Global Investments Holdings LLC lowered its holdings in shares of Electromed, Inc. (NYSE:ELMD - Free Report) by 63.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,716 shares of the company's stock after selling 67,289 shares during the period. Allspring Global Investments Holdings LLC owned about 0.47% of Electromed worth $906,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ELMD. Millennium Management LLC raised its stake in shares of 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 buying an additional 152,480 shares in the last quarter. Geode Capital Management LLC lifted its stake in Electromed by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 194,042 shares of the company's stock worth $5,652,000 after purchasing an additional 4,973 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Electromed by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 190,103 shares of the company's stock valued at $4,667,000 after purchasing an additional 696 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its holdings in Electromed by 6.6% during the fourth quarter. Punch & Associates Investment Management Inc. now owns 187,020 shares of the company's stock valued at $5,446,000 after purchasing an additional 11,500 shares in the last quarter. Finally, Hunter Associates Investment Management LLC grew its stake in shares of Electromed by 25.1% in the 1st quarter. Hunter Associates Investment Management LLC now owns 150,800 shares of the company's stock valued at $3,529,000 after purchasing an additional 30,250 shares during the period. Institutional investors own 40.82% of the company's stock.

Electromed Price Performance

NYSE ELMD opened at $39.86 on Tuesday. The stock's 50 day simple moving average is $40.04 and its 200 day simple moving average is $31.07. Electromed, Inc. has a one year low of $17.73 and a one year high of $47.40. The firm has a market cap of $330.04 million, a PE ratio of 53.15 and a beta of 0.50.

Insider Buying and Selling

In other Electromed news, CFO Bradley M. Nagel sold 11,801 shares of the firm's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $36.35, for a total value of $428,966.35. Following the completion of the sale, the chief financial officer owned 19,638 shares in the company, valued at approximately $713,841.30. This trade represents a 37.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James L. Cunniff sold 9,700 shares of the business's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $36.50, for a total transaction of $354,050.00. Following the completion of the transaction, the chief executive officer directly owned 147,751 shares of the company's stock, valued at approximately $5,392,911.50. This represents a 6.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,501 shares of company stock worth $2,202,216 in the last 90 days. Corporate insiders own 10.50% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ELMD. B. Riley Financial raised their target price on Electromed from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Zacks Research lowered Electromed from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $37.50.

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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