Punch & Associates Investment Management Inc. Sells 107,201 Shares of Electromed, Inc. $ELMD

Key Points

• Punch & Associates Investment Management Inc. reduced its holdings in Electromed, Inc. by 39.6%, now owning 1.91% of the company valued at $3.90 million.
• Millennium Management LLC significantly increased its position by 362.7%, owning 194,519 shares valued at $4.64 million post-purchase.
• Analysts have a consensus rating of “Buy” for Electromed, with price target estimates as high as $36.25.

Punch & Associates Investment Management Inc. decreased its holdings in shares of Electromed, Inc. (NYSE:ELMD - Free Report) by 39.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 163,594 shares of the company's stock after selling 107,201 shares during the quarter. Punch & Associates Investment Management Inc. owned 1.91% of Electromed worth $3,903,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Northern Trust Corp raised its stake in Electromed by 14.1% during the fourth quarter. Northern Trust Corp now owns 65,350 shares of the company's stock worth $1,931,000 after acquiring an additional 8,086 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of Electromed during the fourth quarter worth about $471,000. Bank of America Corp DE grew its holdings in shares of Electromed by 179.2% during the fourth quarter. Bank of America Corp DE now owns 4,004 shares of the company's stock worth $118,000 after purchasing an additional 2,570 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Electromed during the fourth quarter worth about $342,000. Finally, Jane Street Group LLC bought a new stake in shares of Electromed during the fourth quarter worth about $703,000. Institutional investors and hedge funds own 40.82% of the company's stock.

Analysts Set New Price Targets

ELMD has been the topic of several research reports. 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 on the stock. B. Riley upgraded Electromed to a "strong-buy" rating in a report on Thursday, May 15th. Roth Capital boosted their price target on Electromed from $29.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. Finally, Loop Capital set a $36.00 target price on Electromed in a report on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $36.25.

Electromed Trading Down 3.9%

ELMD stock traded down $0.98 during trading on Friday, hitting $24.09. The company had a trading volume of 22,699 shares, compared to its average volume of 85,113. The business has a 50-day moving average of $20.47 and a 200-day moving average of $21.86. Electromed, Inc. has a one year low of $17.73 and a one year high of $35.56. The stock has a market cap of $201.09 million, a PE ratio of 32.11 and a beta of 0.54.

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.