Man Group plc Invests $1.60 Million in Electromed, Inc. $ELMD

Key Points

• Man Group plc initiated a position in Electromed by purchasing 37,849 shares worth approximately $1.60 million, representing about 0.46% of the company. Institutional investors collectively own 40.82% of ELMD.
• Analyst sentiment is broadly positive: three analysts rate Electromed a Buy and one rates it Hold, resulting in a “Moderate Buy” consensus and an average price target of $43.75.
• ELMD opened at $28.24, below its 50-day moving average of $40.43 and 52-week high of $47.40. Meanwhile, CEO James Cunniff sold 9,700 shares for $354,050, reducing his ownership by 6.16%.

Man Group plc bought a new position in shares of Electromed, Inc. (NYSE:ELMD - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 37,849 shares of the company's stock, valued at approximately $1,601,000. Man Group plc owned approximately 0.46% of Electromed as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. raised its stake in shares of Electromed by 0.9% in the third quarter. Raymond James Financial Inc. now owns 58,838 shares of the company's stock valued at $1,444,000 after acquiring an additional 507 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Electromed by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 190,103 shares of the company's stock worth $4,667,000 after acquiring an additional 696 shares during the last quarter. American Century Companies Inc. increased its holdings in Electromed by 3.1% during the 2nd quarter. American Century Companies Inc. now owns 32,031 shares of the company's stock valued at $704,000 after purchasing an additional 969 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Electromed during the 4th quarter valued at $29,000. Finally, Bridge City Capital LLC raised its position in Electromed by 14.6% in the 4th quarter. Bridge City Capital LLC now owns 13,786 shares of the company's stock valued at $401,000 after purchasing an additional 1,756 shares during the last quarter. 40.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ELMD. Lake Street Capital boosted their price objective on Electromed from $36.00 to $47.00 and gave the stock a "buy" rating in a research note on Wednesday, August 26th. Zacks Research lowered Electromed from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th. Morgan Stanley set a $50.00 price target on Electromed in a report on Wednesday, August 26th. Finally, B. Riley Financial upped their price target on shares of Electromed from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Electromed presently has an average rating of "Moderate Buy" and an average price target of $43.75.

Electromed Price Performance

ELMD stock opened at $28.24 on Thursday. The company has a 50 day moving average price of $40.43 and a 200 day moving average price of $33.00. Electromed, Inc. has a fifty-two week low of $23.01 and a fifty-two week high of $47.40. The stock has a market capitalization of $236.26 million, a PE ratio of 37.65 and a beta of 0.51.

Insider Transactions at Electromed

In related news, CEO James L. Cunniff sold 9,700 shares of Electromed stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $36.50, for a total value of $354,050.00. Following the completion of the sale, the chief executive officer directly owned 147,751 shares in the company, valued at $5,392,911.50. This trade represents a 6.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.50% of the stock is currently owned by corporate insiders.

About Electromed

Electromed Inc NYSE: ELMD develops and manufactures sleep therapy products designed to support individuals with breathing disorders such as obstructive sleep apnea. The company's core business activities include the design, production and distribution of continuous positive airway pressure (CPAP) and bilevel positive airway pressure (BiPAP) accessories. Electromed's focus on supplying both disposable and reusable components allows durable medical equipment providers to offer comprehensive therapy solutions to patients.

The company's product portfolio encompasses masks, mask cushions, headgear, tubing, filters and humidification components.

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