Electromed, Inc. $ELMD Stock Holdings Lifted by Acadian Asset Management LLC

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 grew its stake in Electromed, Inc. (NYSE:ELMD - Free Report) by 25.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 267,975 shares of the company's stock after buying an additional 53,872 shares during the period. 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 have also made changes to their positions in the business. State of Wyoming acquired a new position in Electromed in the 1st quarter valued at approximately $48,000. Bank of America Corp DE grew its position in Electromed by 179.2% during the 4th quarter. Bank of America Corp DE now owns 4,004 shares of the company's stock worth $118,000 after acquiring an additional 2,570 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Electromed during the 4th quarter worth approximately $119,000. Quantbot Technologies LP grew its position in Electromed by 57.7% during the 1st quarter. Quantbot Technologies LP now owns 5,301 shares of the company's stock worth $126,000 after acquiring an additional 1,939 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Electromed by 557.0% during the 1st quarter. Russell Investments Group Ltd. now owns 7,969 shares of the company's stock worth $186,000 after acquiring an additional 6,756 shares during the last quarter. Institutional investors and hedge funds own 40.82% of the company's stock.

Electromed Price Performance

Shares of NYSE ELMD opened at $23.88 on Friday. 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 capitalization of $199.37 million, a price-to-earnings ratio of 31.84 and a beta of 0.54. The business has a 50-day moving average of $20.53 and a 200-day moving average of $21.80.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Electromed

In related news, Director Andrew Summers sold 3,153 shares of the firm's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $24.42, for a total value of $76,996.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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.

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