Man Group plc Acquires Shares of 37,849 Electromed, Inc. $ELMD

Man Group plc bought a new position in shares of Electromed, Inc. (NYSE:ELMD) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 37,849 shares of the company’s stock, valued at approximately $1,601,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Raymond James Financial Inc. lifted its stake in shares of Electromed by 0.9% in the 3rd quarter. Raymond James Financial Inc. now owns 58,838 shares of the company’s stock valued at $1,444,000 after purchasing an additional 507 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Electromed by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 190,103 shares of the company’s stock worth $4,667,000 after purchasing an additional 696 shares during the period. American Century Companies Inc. grew its stake in shares of Electromed by 3.1% during the second quarter. American Century Companies Inc. now owns 32,031 shares of the company’s stock worth $704,000 after purchasing an additional 969 shares during the period. Kestra Advisory Services LLC bought a new stake in Electromed in the fourth quarter valued at about $29,000. Finally, Bridge City Capital LLC increased its holdings in Electromed by 14.6% in the fourth quarter. Bridge City Capital LLC now owns 13,786 shares of the company’s stock valued at $401,000 after purchasing an additional 1,756 shares during the last quarter. Institutional investors own 40.82% of the company’s stock.

Electromed Trading Up 4.2%

NYSE:ELMD opened at $28.24 on Thursday. Electromed, Inc. has a 1 year low of $23.01 and a 1 year high of $47.40. The stock has a market cap of $236.26 million, a price-to-earnings ratio of 37.65 and a beta of 0.51. The stock has a 50-day moving average price of $40.43 and a two-hundred day moving average price of $33.00.

Analyst Ratings Changes

ELMD has been the topic of several analyst reports. Lake Street Capital increased their target price on Electromed from $36.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. B. Riley Financial upped their price target on Electromed from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Morgan Stanley set a $50.00 price target on shares of Electromed in a research report on Wednesday, August 26th. Finally, Zacks Research lowered shares of Electromed from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.75.

Insider Activity at Electromed

In other news, CEO James L. Cunniff sold 9,700 shares of Electromed stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $36.50, for a total transaction of $354,050.00. Following the transaction, the chief executive officer owned 147,751 shares in the company, valued at $5,392,911.50. The trade was a 6.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.50% of the stock is currently owned by corporate insiders.

Electromed 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.