Bernicke Wealth Management Ltd. Buys New Position in Electromed, Inc. $ELMD

Bernicke Wealth Management Ltd. purchased a new position in Electromed, Inc. (NYSE:ELMD) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 32,622 shares of the company’s stock, valued at approximately $921,000.

A number of other large investors have also made changes to their positions in ELMD. State of Wyoming acquired a new position in shares of Electromed during the third quarter worth $49,000. Legal & General Group Plc acquired a new stake in shares of Electromed in the 2nd quarter worth $82,000. Russell Investments Group Ltd. boosted its position in shares of Electromed by 76.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,416 shares of the company’s stock worth $96,000 after purchasing an additional 1,476 shares in the last quarter. IFP Advisors Inc grew its stake in Electromed by 101.0% during the 2nd quarter. IFP Advisors Inc now owns 4,023 shares of the company’s stock worth $170,000 after buying an additional 2,022 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in Electromed by 1,235.5% during the 2nd quarter. NewEdge Advisors LLC now owns 6,504 shares of the company’s stock worth $275,000 after buying an additional 6,017 shares during the last quarter. 40.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ELMD has been the topic of several recent analyst reports. Morgan Stanley set a $50.00 target price on Electromed in a research report on Wednesday, August 26th. Lake Street Capital raised their price target on Electromed from $36.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, August 26th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Electromed has an average rating of “Moderate Buy” and an average price target of $43.75.

Electromed Trading Down 2.6%

NYSE:ELMD opened at $24.32 on Friday. The company has a market cap of $201.54 million, a PE ratio of 32.43 and a beta of 0.43. Electromed, Inc. has a twelve month low of $23.01 and a twelve month high of $47.40. The company’s 50 day moving average is $27.22 and its two-hundred day moving average is $31.22.

Electromed Profile

Electromed, Inc. develops, manufactures and markets airway clearance products for people who have difficulty clearing mucus from their lungs. Its products use high-frequency chest wall oscillation, a therapy that applies gentle vibrations to the chest to help loosen and move airway secretions. The company’s main product line is the SmartVest Airway Clearance System, which includes wearable vests and related equipment. These systems are used in managing conditions associated with impaired mucus clearance, including bronchiectasis, cystic fibrosis and certain neuromuscular disorders.