Walleye Capital LLC Takes $371,000 Position in Electromed, Inc. $ELMD

Walleye Capital LLC purchased a new stake in shares of Electromed, Inc. (NYSE:ELMD) in the 1st quarter, Holdings Channel reports. The fund purchased 15,838 shares of the company’s stock, valued at approximately $371,000.

Other hedge funds also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC bought a new position in Electromed in the 4th quarter valued at approximately $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Electromed in the 4th quarter worth $43,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Electromed in the 2nd quarter worth $83,000. SG Americas Securities LLC purchased a new position in shares of Electromed in the fourth quarter worth $114,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Electromed in the second quarter worth $103,000. 40.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Bradley M. Nagel sold 11,801 shares of the firm’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 value of $428,966.35. Following the transaction, the chief financial officer 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James L. Cunniff sold 9,700 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $36.50, for a total transaction of $354,050.00. Following the sale, the chief executive officer owned 147,751 shares of the company’s stock, valued at $5,392,911.50. This trade represents a 6.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 61,501 shares of company stock valued at $2,202,216. 10.50% of the stock is owned by insiders.

Electromed Stock Up 0.6%

Electromed stock opened at $38.41 on Friday. The business has a 50-day simple moving average of $40.01 and a two-hundred day simple moving average of $30.97. The company has a market cap of $318.03 million, a P/E ratio of 51.21 and a beta of 0.50. Electromed, Inc. has a 52-week low of $17.73 and a 52-week high of $47.40.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ELMD. Zacks Research downgraded Electromed from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. B. Riley Financial lifted their price objective on Electromed from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

About Electromed

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.