BlackRock Inc. Makes New Investment in Electromed, Inc. $ELMD

BlackRock Inc. bought a new stake in Electromed, Inc. (NYSE:ELMD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 465,619 shares of the company’s stock, valued at approximately $19,696,000. BlackRock Inc. owned 0.06% of Electromed as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in ELMD. Punch & Associates Investment Management Inc. grew its stake in shares of Electromed by 20.1% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 224,520 shares of the company’s stock worth $5,256,000 after purchasing an additional 37,500 shares during the period. Millennium Management LLC lifted its stake in shares of Electromed by 362.7% in the first quarter. Millennium Management LLC now owns 194,519 shares of the company’s stock valued at $4,641,000 after purchasing an additional 152,480 shares during the period. Geode Capital Management LLC boosted its holdings 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 buying an additional 4,973 shares in the last quarter. 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 worth $4,667,000 after buying an additional 696 shares in the last quarter. Finally, Hunter Associates Investment Management LLC boosted its holdings in Electromed by 25.1% during the first quarter. Hunter Associates Investment Management LLC now owns 150,800 shares of the company’s stock worth $3,529,000 after buying an additional 30,250 shares in the last quarter. 40.82% of the stock is currently owned by hedge funds and other institutional investors.

Electromed Price Performance

ELMD stock opened at $28.24 on Thursday. The company’s 50 day simple moving average is $40.43 and its 200-day simple moving average is $33.00. Electromed, Inc. has a 12 month low of $23.01 and a 12 month high of $47.40. The firm has a market capitalization of $236.26 million, a PE ratio of 37.65 and a beta of 0.51.

Insider Buying and Selling

In other Electromed news, CEO James L. Cunniff sold 9,700 shares of the firm’s stock in a transaction on 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 owned 147,751 shares of the company’s stock, valued at approximately $5,392,911.50. This trade represents a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 10.50% of the company’s stock.

Analyst Upgrades and Downgrades

ELMD has been the subject of a number of research analyst reports. Zacks Research cut shares of Electromed from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. B. Riley Financial boosted their price target on Electromed from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Morgan Stanley set a $50.00 price target on Electromed in a report on Wednesday, August 26th. Finally, Lake Street Capital raised their price objective on Electromed from $36.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.75.

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.