Punch & Associates Investment Management Inc. Has $3.90 Million Holdings in 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. cut its position in Electromed, Inc. (NYSE:ELMD - Free Report) by 39.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 163,594 shares of the company's stock after selling 107,201 shares during the period. Punch & Associates Investment Management Inc. owned 1.91% of Electromed worth $3,903,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Millennium Management LLC lifted its position in shares of Electromed by 362.7% during the first quarter. Millennium Management LLC now owns 194,519 shares of the company's stock worth $4,641,000 after purchasing an additional 152,480 shares in the last quarter. Northern Trust Corp lifted its position in shares of 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 purchasing an additional 8,086 shares in the last quarter. Susquehanna International Group LLP lifted its position in shares of Electromed by 121.8% during the fourth quarter. Susquehanna International Group LLP now owns 56,726 shares of the company's stock worth $1,676,000 after purchasing an additional 31,148 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Electromed by 19,860.8% during the fourth quarter. Lazard Asset Management LLC now owns 47,906 shares of the company's stock worth $1,415,000 after purchasing an additional 47,666 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new position in shares of Electromed during the fourth quarter worth approximately $1,255,000. 40.82% of the stock is currently owned by institutional investors and hedge funds.

Electromed Price Performance

ELMD opened at $24.47 on Friday. The company has a market cap of $204.30 million, a price-to-earnings ratio of 32.63 and a beta of 0.54. The firm has a 50 day simple moving average of $20.16 and a 200 day simple moving average of $21.89. Electromed, Inc. has a fifty-two week low of $16.58 and a fifty-two week high of $35.56.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. B. Riley upgraded shares of Electromed to a "strong-buy" rating in a research report on Thursday, May 15th. Lake Street Capital assumed coverage on shares of Electromed in a research report on Wednesday, August 27th. They set a "buy" rating and a $36.00 target price on the stock. Roth Capital upped their target price on shares of Electromed from $29.00 to $35.00 and gave the stock a "buy" rating in a research report on Wednesday, August 27th. Finally, Loop Capital set a $36.00 price target on shares of Electromed in a research note 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 stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $36.25.

Electromed 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.

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