Punch & Associates Investment Management Inc. Takes $9.24 Million Position in Electromed, Inc. $ELMD

Punch & Associates Investment Management Inc. purchased a new position in shares of Electromed, Inc. (NYSE:ELMD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 218,520 shares of the company’s stock, valued at approximately $9,243,000.

Several other institutional investors have also recently added to or reduced their stakes in ELMD. Bank of America Corp DE bought a new position in Electromed during the 2nd quarter valued at $1,597,000. Man Group plc bought a new stake in shares of Electromed in the 2nd quarter worth about $1,601,000. Hsbc Holdings PLC bought a new stake in shares of Electromed in the 2nd quarter worth about $493,000. Legal & General Group Plc acquired a new stake in shares of Electromed in the 2nd quarter valued at about $82,000. Finally, Globeflex Capital L P acquired a new stake in shares of Electromed in the 2nd quarter valued at about $1,500,000. 40.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ELMD shares. B. Riley Financial lifted their price target on Electromed from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Morgan Stanley set a $50.00 price objective on Electromed in a research note on Wednesday. Zacks Research downgraded Electromed from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Finally, Lake Street Capital increased their target price on Electromed from $36.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday. Three investment 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 a consensus rating of “Moderate Buy” and an average price target of $43.75.

Electromed Stock Performance

NYSE ELMD opened at $31.77 on Thursday. Electromed, Inc. has a one year low of $23.01 and a one year high of $47.40. The company has a 50-day simple moving average of $41.44 and a 200-day simple moving average of $32.93. The firm has a market capitalization of $263.06 million, a PE ratio of 42.36 and a beta of 0.51.

Insider Transactions at Electromed

In other news, CFO Bradley M. Nagel sold 11,801 shares of the company’s 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 completion of the transaction, the chief financial officer directly owned 19,638 shares of the company’s stock, valued at approximately $713,841.30. This represents a 37.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James L. Cunniff sold 9,700 shares of the stock in a transaction that occurred 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 sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 10.50% of the company’s stock.

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.