Electromed (NYSE:ELMD) CEO James Cunniff Sells 9,700 Shares

Electromed, Inc. (NYSE:ELMD) CEO James Cunniff sold 9,700 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer owned 147,751 shares in the company, valued at approximately $5,392,911.50. The trade was a 6.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Electromed Stock Down 2.1%

Electromed stock traded down $0.79 during trading hours on Tuesday, reaching $36.29. 48,927 shares of the company’s stock were exchanged, compared to its average volume of 61,247. The firm’s 50 day simple moving average is $29.79 and its 200 day simple moving average is $27.87. Electromed, Inc. has a twelve month low of $17.73 and a twelve month high of $40.00. The firm has a market capitalization of $300.48 million, a PE ratio of 48.39 and a beta of 0.53.

Institutional Trading of Electromed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ELMD. Bank of America Corp DE raised its stake in Electromed by 49.3% during the 1st quarter. Bank of America Corp DE now owns 17,059 shares of the company’s stock worth $399,000 after buying an additional 5,634 shares during the period. Lazard Asset Management LLC increased its holdings in shares of Electromed by 10.8% during the first quarter. Lazard Asset Management LLC now owns 95,213 shares of the company’s stock valued at $2,229,000 after acquiring an additional 9,269 shares in the last quarter. Punch & Associates Investment Management Inc. increased its holdings in shares of Electromed by 20.1% during the first quarter. Punch & Associates Investment Management Inc. now owns 224,520 shares of the company’s stock valued at $5,256,000 after acquiring an additional 37,500 shares in the last quarter. Gabelli Funds LLC raised its position in shares of Electromed by 10.9% during the first quarter. Gabelli Funds LLC now owns 40,700 shares of the company’s stock worth $953,000 after purchasing an additional 4,000 shares during the period. Finally, Aristides Capital LLC raised its position in shares of Electromed by 22.1% during the first quarter. Aristides Capital LLC now owns 33,332 shares of the company’s stock worth $780,000 after purchasing an additional 6,030 shares during the period. 40.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on ELMD. Zacks Research upgraded Electromed from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. B. Riley Financial boosted their price target on Electromed from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Finally, Roth Mkm reissued a “buy” rating and issued a $38.00 price target on shares of Electromed in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price 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.