Globeflex Capital L P Acquires Shares of 35,470 Electromed, Inc. $ELMD

Globeflex Capital L P bought a new position in shares of Electromed, Inc. (NYSE:ELMD) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 35,470 shares of the company’s stock, valued at approximately $1,500,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Punch & Associates Investment Management Inc. boosted its holdings in Electromed by 20.1% during the first quarter. Punch & Associates Investment Management Inc. now owns 224,520 shares of the company’s stock worth $5,256,000 after buying an additional 37,500 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Electromed in the 4th quarter valued at approximately $358,000. Janney Montgomery Scott LLC acquired a new position in Electromed during the first quarter worth $284,000. Walleye Capital LLC acquired a new position in Electromed during the first quarter worth $371,000. Finally, North Star Investment Management Corp. purchased a new stake in Electromed during the first quarter worth $796,000. Institutional investors and hedge funds own 40.82% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Electromed

In related news, CEO James L. Cunniff sold 9,700 shares of the 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 transaction, the chief executive officer directly owned 147,751 shares in the company, valued at approximately $5,392,911.50. This represents a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Bradley M. Nagel sold 11,801 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $36.35, for a total transaction of $428,966.35. Following the transaction, the chief financial officer directly owned 19,638 shares of the company’s stock, valued at approximately $713,841.30. This represents a 37.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 10.50% of the stock is owned by company insiders.

Electromed Price Performance

Shares of NYSE ELMD opened at $40.29 on Tuesday. The company has a 50-day simple moving average of $41.51 and a 200-day simple moving average of $32.84. The company has a market cap of $333.60 million, a PE ratio of 53.72 and a beta of 0.51. Electromed, Inc. has a 12 month low of $19.92 and a 12 month high of $47.40.

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.