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

Electromed, Inc. (NYSE:ELMD) CEO James Cunniff sold 9,700 shares of Electromed stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $36.50, for a total value of $354,050.00. Following the completion of the transaction, the chief executive officer owned 147,751 shares in the company, valued at $5,392,911.50. This trade represents a 6.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Electromed Trading Up 2.5%

Shares of ELMD stock opened at $37.18 on Thursday. The business’s 50 day moving average is $30.28 and its two-hundred day moving average is $28.03. Electromed, Inc. has a twelve month low of $17.73 and a twelve month high of $40.00. The company has a market capitalization of $307.85 million, a P/E ratio of 49.57 and a beta of 0.53.

Hedge Funds Weigh In On Electromed

Several hedge funds and other institutional investors have recently bought and sold shares of ELMD. Millennium Management LLC raised its holdings in Electromed by 362.7% during the first 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 raised its position in Electromed by 20.1% during the first quarter. NewEdge Advisors LLC now owns 17,952 shares of the company’s stock worth $428,000 after acquiring an additional 3,001 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Electromed by 9.0% in the first 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 in the last quarter. Jane Street Group LLC lifted its holdings in shares of Electromed by 136.3% in the first quarter. Jane Street Group LLC now owns 56,263 shares of the company’s stock valued at $1,342,000 after purchasing an additional 32,456 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Electromed by 128.3% in the second quarter. Geode Capital Management LLC now owns 155,540 shares of the company’s stock valued at $3,421,000 after purchasing an additional 87,401 shares in the last quarter. 40.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on ELMD shares. Zacks Research upgraded Electromed from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Roth Mkm restated a “buy” rating and issued a $38.00 price target on shares of Electromed in a research note on Wednesday, February 11th. Finally, B. Riley Financial lifted 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. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $37.50.

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.