Electromed (NYSE:ELMD) CEO James Cunniff Sells 9,700 Shares of Stock

Electromed, Inc. (NYSE:ELMD) CEO James Cunniff sold 9,700 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $36.50, for a total transaction of $354,050.00. Following the transaction, the chief executive officer directly owned 147,751 shares in the company, valued at $5,392,911.50. This trade represents a 6.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Electromed Stock Performance

NYSE ELMD opened at $36.29 on Wednesday. The company’s 50-day simple moving average is $30.02 and its two-hundred day simple moving average is $27.95. Electromed, Inc. has a one year low of $17.73 and a one year high of $40.00. The company has a market capitalization of $300.48 million, a price-to-earnings ratio of 48.39 and a beta of 0.53.

Hedge Funds Weigh In On Electromed

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its position in Electromed by 717.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 106,005 shares of the company’s stock valued at $3,087,000 after acquiring an additional 93,030 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Electromed during the fourth quarter valued at approximately $43,000. Aristides Capital LLC lifted its position in Electromed by 13.4% during the third quarter. Aristides Capital LLC now owns 29,570 shares of the company’s stock valued at $726,000 after acquiring an additional 3,494 shares during the last quarter. Teton Advisors LLC purchased a new stake in Electromed during the third quarter valued at approximately $491,000. Finally, Navellier & Associates Inc. lifted its position in Electromed by 29.6% during the third quarter. Navellier & Associates Inc. now owns 59,357 shares of the company’s stock valued at $1,457,000 after acquiring an additional 13,543 shares during the last quarter. 40.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. B. Riley Financial increased 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. Zacks Research upgraded shares of Electromed from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Finally, Roth Mkm reiterated a “buy” rating and set a $38.00 price objective on shares of Electromed in a research note on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to MarketBeat, Electromed presently has an average rating of “Buy” and an average target price 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.