Dynamic Technology Lab Private Ltd Invests $350,000 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 stake in Electromed, Inc. (NYSE:ELMD - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State of Wyoming purchased a new stake in shares of Electromed in the 1st quarter valued at about $48,000. Bank of America Corp DE raised its holdings in shares of Electromed by 179.2% during the 4th quarter. Bank of America Corp DE now owns 4,004 shares of the company's stock valued at $118,000 after buying an additional 2,570 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Electromed during the 4th quarter valued at about $119,000. Quantbot Technologies LP raised its holdings in shares of Electromed by 57.7% during the 1st quarter. Quantbot Technologies LP now owns 5,301 shares of the company's stock valued at $126,000 after buying an additional 1,939 shares in the last quarter. Finally, Two Sigma Advisers LP purchased a new position in shares of Electromed during the 4th quarter valued at about $219,000. Hedge funds and other institutional investors own 40.82% of the company's stock.

Electromed Stock Performance

ELMD traded up $0.82 on Thursday, hitting $24.99. 90,202 shares of the company were exchanged, compared to its average volume of 85,179. The firm has a fifty day simple moving average of $20.88 and a two-hundred day simple moving average of $21.77. Electromed, Inc. has a 12 month low of $17.73 and a 12 month high of $35.56. The stock has a market capitalization of $208.64 million, a PE ratio of 33.32 and a beta of 0.54.

Insider Transactions at Electromed

In related news, Director Andrew Summers sold 62,561 shares of the firm's stock in a transaction that occurred on 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 $76,680.96. This trade represents a 95.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 14.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Lake Street Capital assumed coverage on Electromed in a report on Wednesday, August 27th. They set a "buy" rating and a $36.00 price objective on the stock. Loop Capital set a $36.00 price objective on Electromed in a report on Wednesday, August 27th. Finally, Roth Capital raised their price objective on Electromed from $29.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $36.25.

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.