Acadian Asset Management LLC Purchases 53,872 Shares of Electromed, Inc. $ELMD

Key Points

• Acadian Asset Management LLC increased its stake in Electromed, Inc. by 25.2% in the first quarter, owning approximately 3.20% of the company, valued at $6,388,000.
• Institutional investors collectively hold 40.82% of Electromed's stock, indicating strong interest from larger funds.
• Wall Street analysts have set a consensus target price of $36.25 for Electromed, with ratings including one Strong Buy and two Buy ratings.

Acadian Asset Management LLC increased its stake in Electromed, Inc. (NYSE:ELMD - Free Report) by 25.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 267,975 shares of the company's stock after buying an additional 53,872 shares during the quarter. Acadian Asset Management LLC owned approximately 3.20% of Electromed worth $6,388,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ELMD. Northern Trust Corp boosted its holdings in shares of 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 buying an additional 8,086 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Electromed in the 4th quarter valued at approximately $703,000. Ameriprise Financial Inc. boosted its holdings in shares of Electromed by 49.1% in the 4th 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 during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Electromed in the 4th quarter valued at approximately $342,000. Finally, Bank of America Corp DE boosted its holdings in shares of 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 buying an additional 2,570 shares during the last quarter. Institutional investors and hedge funds own 40.82% of the company's stock.

Electromed Price Performance

Electromed stock traded up $0.82 during mid-day trading on Thursday, hitting $24.99. 90,202 shares of the company's stock traded hands, compared to its average volume of 85,179. The firm has a 50 day simple moving average of $20.88 and a two-hundred day simple moving average of $21.77. Electromed, Inc. has a fifty-two week low of $17.73 and a fifty-two week high of $35.56. The stock has a market cap of $208.64 million, a price-to-earnings ratio of 33.32 and a beta of 0.54.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ELMD shares. Roth Capital increased 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. Loop Capital set a $36.00 price objective on Electromed in a report on Wednesday, August 27th. Finally, Lake Street Capital initiated coverage on Electromed in a report on Wednesday, August 27th. They set a "buy" rating and a $36.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $36.25.

Insiders Place Their Bets

In other Electromed news, Director Andrew Summers sold 62,561 shares of the stock in a transaction 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.00% of the stock is owned by insiders.

Electromed Company 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.