Janney Montgomery Scott LLC Buys Shares of 12,111 Electromed, Inc. $ELMD

Janney Montgomery Scott LLC purchased a new position in shares of Electromed, Inc. (NYSE:ELMD) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 12,111 shares of the company’s stock, valued at approximately $284,000.

A number of other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its stake in Electromed by 717.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 106,005 shares of the company’s stock worth $3,087,000 after acquiring an additional 93,030 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Electromed during the 4th quarter valued at about $358,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Electromed in the 2nd quarter valued at about $83,000. Kestra Advisory Services LLC acquired a new position in Electromed in the 4th quarter valued at about $29,000. Finally, JPMorgan Chase & Co. grew its position in Electromed by 10.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 70,983 shares of the company’s stock valued at $1,743,000 after acquiring an additional 6,612 shares in the last quarter. 40.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on ELMD shares. Zacks Research cut shares of Electromed from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. B. Riley Financial raised 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. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

Insider Transactions at Electromed

In related news, CFO Bradley M. Nagel sold 11,801 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer owned 19,638 shares of the company’s stock, valued at $713,841.30. This trade represents a 37.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathleen Skarvan sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $35.48, for a total transaction of $1,419,200.00. Following the completion of the sale, the director directly owned 35,622 shares in the company, valued at approximately $1,263,868.56. This trade represents a 52.89% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 61,501 shares of company stock valued at $2,202,216. 10.50% of the stock is currently owned by corporate insiders.

Electromed Trading Down 1.6%

NYSE:ELMD opened at $42.10 on Friday. Electromed, Inc. has a 12-month low of $17.73 and a 12-month high of $47.40. The firm has a market cap of $348.59 million, a PE ratio of 56.13 and a beta of 0.50. The stock has a fifty day moving average price of $39.25 and a 200 day moving average price of $30.59.

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.