Insider Selling: Electromed (NYSE:ELMD) CEO Sells $354,050.00 in Stock

Electromed, Inc. (NYSE:ELMD) CEO James Cunniff sold 9,700 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $36.50, for a total transaction of $354,050.00. Following the sale, the chief executive officer directly owned 147,751 shares of the company’s stock, valued at $5,392,911.50. This represents a 6.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Electromed Stock Up 1.2%

Shares of NYSE ELMD opened at $37.61 on Friday. Electromed, Inc. has a 52-week low of $17.73 and a 52-week high of $40.00. The firm has a fifty day moving average of $30.56 and a 200-day moving average of $28.11. The stock has a market capitalization of $311.41 million, a PE ratio of 50.15 and a beta of 0.53.

Hedge Funds Weigh In On Electromed

A number of institutional investors have recently added to or reduced their stakes in ELMD. Millennium Management LLC lifted its holdings in Electromed by 362.7% in the 1st quarter. Millennium Management LLC now owns 194,519 shares of the company’s stock worth $4,641,000 after buying an additional 152,480 shares in the last quarter. Invesco Ltd. acquired a new position in Electromed in the 4th quarter worth $3,017,000. Allspring Global Investments Holdings LLC lifted its holdings 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 buying an additional 93,030 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Electromed by 128.3% in the 2nd quarter. Geode Capital Management LLC now owns 155,540 shares of the company’s stock worth $3,421,000 after buying an additional 87,401 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. lifted its holdings in Electromed by 20.1% in the 1st 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. Institutional investors and hedge funds own 40.82% of the company’s stock.

Analyst Ratings Changes

ELMD has been the topic of several recent research reports. Zacks Research upgraded shares of Electromed from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. B. Riley Financial lifted their target price on shares of Electromed from $38.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $37.50.

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.