Cubist Systematic Strategies LLC Buys 23,425 Shares of Electromed, Inc. $ELMD

Key Points

• Cubist Systematic Strategies LLC increased its stake in Electromed, Inc. by 246.7% during the first quarter, now owning 32,921 shares worth approximately $785,000.
• Several institutional investors made significant moves, with Lazard Asset Management raising its stake by 19,860.8%, now holding shares valued at $1.415 million.
• Analysts have a positive outlook for Electromed, with an average rating of "Buy" and a target price of about $36.25, indicating anticipated growth potential.

Cubist Systematic Strategies LLC lifted its stake in shares of Electromed, Inc. (NYSE:ELMD - Free Report) by 246.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,921 shares of the company's stock after purchasing an additional 23,425 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.38% of Electromed worth $785,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Northern Trust Corp lifted its position in Electromed by 14.1% in the 4th quarter. Northern Trust Corp now owns 65,350 shares of the company's stock valued at $1,931,000 after acquiring an additional 8,086 shares in the last quarter. Cetera Investment Advisers bought a new position in Electromed in the 4th quarter valued at about $471,000. Bank of America Corp DE lifted its position in Electromed by 179.2% in the 4th quarter. Bank of America Corp DE now owns 4,004 shares of the company's stock valued at $118,000 after acquiring an additional 2,570 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Electromed in the 4th quarter valued at about $342,000. Finally, Jane Street Group LLC bought a new position in Electromed in the 4th quarter valued at about $703,000. Institutional investors own 40.82% of the company's stock.

Electromed Trading Down 4.7%

Shares of ELMD traded down $1.18 on Friday, reaching $23.88. 54,060 shares of the company's stock traded hands, compared to its average volume of 85,295. The stock has a market cap of $199.37 million, a PE ratio of 31.84 and a beta of 0.54. The stock's 50 day simple moving average is $20.53 and its two-hundred day simple moving average is $21.84. Electromed, Inc. has a 52-week low of $17.73 and a 52-week high of $35.56.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ELMD shares. B. Riley raised shares of Electromed to a "strong-buy" rating in a research report on Thursday, May 15th. Roth Capital raised their price target on shares of Electromed from $29.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, August 27th. Loop Capital set a $36.00 price target on shares of Electromed in a research report on Wednesday, August 27th. Finally, Lake Street Capital began coverage on shares of Electromed in a research report on Wednesday, August 27th. They set a "buy" rating and a $36.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $36.25.

Insider Activity at Electromed

In related news, Director Andrew Summers sold 3,153 shares of Electromed stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $24.42, for a total value of $76,996.26. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 14.00% of the company's stock.

About Electromed

Electromed, Inc develops, manufactures, markets, and sells airway clearance therapy and related products that apply high frequency chest wall oscillation (HFCWO) therapy in pulmonary care for patients of various ages in the United States and internationally. The company offers SmartVest airway clearance system for patients with compromised pulmonary functions, including bronchiectasis and cystic fibrosis, as well as neuromuscular conditions, such as cerebral palsy and amyotrophic lateral sclerosis; SmartVest SQL System; SmartVest Clearway System that consists of an inflatable therapy garment, a programmable air pulse generator, and a patented single-hose that delivers air pulses from the generator to the garment to create oscillatory pressure on the chest wall; and SmartVest Connect, a wireless technology that allows data connection between physicians and patients to track therapy performance and collaborate in treatment decisions.