Dynamic Technology Lab Private Ltd Makes New $350,000 Investment in Electromed, Inc. $ELMD

Key Points

• Dynamic Technology Lab Private Ltd has acquired a new position in Electromed, Inc. by purchasing 14,710 shares worth approximately $350,000, representing about 0.17% ownership of the company.
• Several institutional investors have increased their stakes in Electromed, including Millennium Management LLC, which raised its holdings by 362.7%, now owning 194,519 shares valued at $4.64 million.
• Wall Street analysts are optimistic about Electromed, with the average rating of "Buy" and a consensus price target of $36.25, as various firms have set price objectives between $35 and $36.

Dynamic Technology Lab Private Ltd purchased a new position in shares of Electromed, Inc. (NYSE:ELMD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,710 shares of the company's stock, valued at approximately $350,000. Dynamic Technology Lab Private Ltd owned approximately 0.17% of Electromed at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its holdings in shares of Electromed by 20.1% in the first quarter. NewEdge Advisors LLC now owns 17,952 shares of the company's stock valued at $428,000 after purchasing an additional 3,001 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Electromed by 362.7% in the first quarter. Millennium Management LLC now owns 194,519 shares of the company's stock valued at $4,641,000 after purchasing an additional 152,480 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Electromed by 246.7% in the first quarter. Cubist Systematic Strategies LLC now owns 32,921 shares of the company's stock valued at $785,000 after purchasing an additional 23,425 shares during the last quarter. Magnetar Financial LLC acquired a new position in shares of Electromed in the first quarter valued at $247,000. Finally, State of Wyoming acquired a new position in shares of Electromed in the first quarter valued at $48,000. 40.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Loop Capital set a $36.00 price objective on shares of Electromed in a report on Wednesday, August 27th. Lake Street Capital started coverage on shares of Electromed in a research note on Wednesday, August 27th. They issued a "buy" rating and a $36.00 price target on the stock. Finally, Roth Capital upped their price target on shares of Electromed from $29.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $36.25.

Electromed Stock Performance

ELMD stock opened at $23.88 on Friday. The company's 50-day simple moving average is $20.53 and its 200 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. The company has a market capitalization of $199.37 million, a PE ratio of 31.84 and a beta of 0.54.

Insider Transactions at Electromed

In other Electromed news, Director Andrew Summers sold 3,153 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $24.42, for a total transaction of $76,996.26. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 14.00% of the stock is owned by insiders.

Electromed Profile

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.

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