Globeflex Capital L P Makes New Investment in Electromed, Inc. $ELMD

Globeflex Capital L P acquired a new stake in Electromed, Inc. (NYSE:ELMD) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 35,470 shares of the company’s stock, valued at approximately $1,500,000. Globeflex Capital L P owned approximately 0.43% of Electromed at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ELMD. Millennium Management LLC boosted 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. NewEdge Advisors LLC lifted its holdings in Electromed by 20.1% during the 1st quarter. NewEdge Advisors LLC now owns 17,952 shares of the company’s stock worth $428,000 after buying an additional 3,001 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Electromed by 9.0% during the first quarter. Goldman Sachs Group Inc. now owns 32,281 shares of the company’s stock worth $770,000 after acquiring an additional 2,672 shares during the period. Jane Street Group LLC increased its position in shares of Electromed by 136.3% during the first quarter. Jane Street Group LLC now owns 56,263 shares of the company’s stock worth $1,342,000 after acquiring an additional 32,456 shares during the period. Finally, Geode Capital Management LLC raised its stake 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 acquiring an additional 87,401 shares in the last quarter. Hedge funds and other institutional investors own 40.82% of the company’s stock.

Electromed Trading Up 2.1%

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

Insider Activity at Electromed

In other Electromed news, CFO Bradley M. Nagel sold 11,801 shares of Electromed stock in a transaction 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 directly owned 19,638 shares in the company, valued at approximately $713,841.30. The trade was a 37.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James L. Cunniff sold 9,700 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer directly owned 147,751 shares of the company’s stock, valued at $5,392,911.50. The trade was a 6.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 10.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ELMD shares. B. Riley Financial lifted their price objective on Electromed from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Zacks Research cut shares of Electromed from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate 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.