Punch & Associates Investment Management Inc. Acquires 37,500 Shares of Electromed, Inc. $ELMD

Punch & Associates Investment Management Inc. lifted its stake in Electromed, Inc. (NYSE:ELMD) by 20.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 224,520 shares of the company’s stock after buying an additional 37,500 shares during the period. Punch & Associates Investment Management Inc.’s holdings in Electromed were worth $5,256,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its stake in Electromed by 717.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 106,005 shares of the company’s stock worth $3,087,000 after purchasing an additional 93,030 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of Electromed during the fourth quarter valued at approximately $358,000. Janney Montgomery Scott LLC bought a new position in shares of Electromed in the first quarter worth approximately $284,000. Walleye Capital LLC purchased a new position in shares of Electromed in the first quarter worth $371,000. Finally, North Star Investment Management Corp. purchased a new position in shares of Electromed in the first quarter worth $796,000. 40.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Zacks Research lowered shares of Electromed from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. B. Riley Financial raised their price target on shares of Electromed from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.50.

Electromed Stock Performance

ELMD stock opened at $38.41 on Friday. Electromed, Inc. has a fifty-two week low of $17.73 and a fifty-two week high of $47.40. The business’s 50 day moving average price is $40.01 and its two-hundred day moving average price is $30.97. The company has a market capitalization of $318.03 million, a price-to-earnings ratio of 51.21 and a beta of 0.50.

Insider Activity at Electromed

In related news, CFO Bradley M. Nagel sold 11,801 shares of Electromed stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $36.35, for a total transaction of $428,966.35. Following the sale, the chief financial officer directly owned 19,638 shares in the company, valued at $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 is available through this hyperlink. Also, CEO James L. Cunniff sold 9,700 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $36.50, for a total value of $354,050.00. Following the completion of the sale, the chief executive officer directly owned 147,751 shares in the company, valued at approximately $5,392,911.50. The trade was a 6.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 61,501 shares of company stock worth $2,202,216 over the last ninety days. 10.50% of the stock is owned by corporate insiders.

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.