Cubist Systematic Strategies LLC Acquires 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 boosted its stake in Electromed, Inc. (NYSE:ELMD - Free Report) by 246.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,921 shares of the company's stock after buying an additional 23,425 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.38% of Electromed worth $785,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northern Trust Corp boosted its holdings in shares of Electromed by 14.1% in the fourth 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 during the period. Lazard Asset Management LLC raised its position in Electromed by 19,860.8% in the fourth quarter. Lazard Asset Management LLC now owns 47,906 shares of the company's stock worth $1,415,000 after acquiring an additional 47,666 shares in the last quarter. Two Sigma Investments LP purchased a new position in Electromed in the fourth quarter worth $1,255,000. Ameriprise Financial Inc. increased its position in shares of Electromed by 49.1% in the fourth quarter. Ameriprise Financial Inc. now owns 42,072 shares of the company's stock valued at $1,243,000 after buying an additional 13,861 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Electromed by 171.8% in the fourth quarter. Millennium Management LLC now owns 42,039 shares of the company's stock valued at $1,242,000 after buying an additional 26,571 shares in the last quarter. 40.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ELMD. Roth Capital raised their price target on Electromed from $29.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday, August 27th. Loop Capital set a $36.00 target price on Electromed in a report on Wednesday, August 27th. Finally, Lake Street Capital began coverage on Electromed in a report on Wednesday, August 27th. They set a "buy" rating and a $36.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $36.25.

Electromed Trading Up 3.4%

NYSE:ELMD traded up $0.82 during mid-day trading on Monday, hitting $24.70. 76,493 shares of the company's stock traded hands, compared to its average volume of 85,244. The firm has a 50 day moving average of $20.62 and a two-hundred day moving average of $21.74. The firm has a market capitalization of $206.22 million, a price-to-earnings ratio of 32.93 and a beta of 0.54. Electromed, Inc. has a 12 month low of $17.73 and a 12 month high of $35.56.

Insider Activity

In other Electromed news, Director Andrew Summers sold 62,561 shares of Electromed stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $24.32, for a total transaction of $1,521,483.52. Following the transaction, the director directly owned 3,153 shares in the company, valued at approximately $76,680.96. The trade was a 95.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 14.00% of the stock is owned by corporate insiders.

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.