Punch & Associates Investment Management Inc. Has $5.26 Million Position in Electromed, Inc. $ELMD

Key Points

• Punch & Associates Investment Management increased its Electromed stake by 20.1% in the first quarter, ending with 224,520 shares valued at about $5.26 million.
• Institutional interest in Electromed remains strong, with several firms adding shares and institutional investors and hedge funds owning 40.82% of the stock overall.
• Analysts are mixed but still broadly positive: B. Riley raised its price target to $40 with a buy rating, while Zacks cut the stock to hold; the consensus target is $37.50.

Punch & Associates Investment Management Inc. boosted its position in Electromed, Inc. (NYSE:ELMD - Free Report) by 20.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 224,520 shares of the company's stock after purchasing an additional 37,500 shares during the quarter. Punch & Associates Investment Management Inc. owned about 2.71% of Electromed worth $5,256,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC raised its stake in Electromed by 362.7% in the 1st 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. NewEdge Advisors LLC increased its holdings in shares of Electromed by 20.1% during the first quarter. NewEdge Advisors LLC now owns 17,952 shares of the company's stock worth $428,000 after purchasing an additional 3,001 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Electromed by 9.0% during the first quarter. Goldman Sachs Group Inc. now owns 32,281 shares of the company's stock worth $770,000 after purchasing an additional 2,672 shares during the period. Jane Street Group LLC raised its position in shares of Electromed by 136.3% in the first quarter. Jane Street Group LLC now owns 56,263 shares of the company's stock valued at $1,342,000 after buying an additional 32,456 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Electromed by 128.3% in the second quarter. Geode Capital Management LLC now owns 155,540 shares of the company's stock valued at $3,421,000 after buying an additional 87,401 shares in the last quarter. 40.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on ELMD shares. B. Riley Financial lifted their price objective on Electromed from $38.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. Zacks Research lowered Electromed from a "strong-buy" rating to a "hold" rating in a report on Monday, July 13th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.50.

Electromed Stock Up 0.6%

ELMD stock opened at $38.41 on Friday. The firm has a market cap of $318.03 million, a price-to-earnings ratio of 51.21 and a beta of 0.50. The company's fifty day simple moving average is $40.01 and its 200 day simple moving average is $30.97. Electromed, Inc. has a 12-month low of $17.73 and a 12-month high of $47.40.

Insider Buying and Selling at Electromed

In other news, Director Kathleen Skarvan sold 40,000 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $35.48, for a total value of $1,419,200.00. Following the completion of the sale, the director directly owned 35,622 shares of the company's stock, valued at $1,263,868.56. This represents a 52.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James L. Cunniff sold 9,700 shares of the firm's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $36.50, for a total transaction of $354,050.00. Following the transaction, the chief executive officer directly owned 147,751 shares in the company, valued at $5,392,911.50. The trade was a 6.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 61,501 shares of company stock valued at $2,202,216. Corporate insiders own 10.50% of the company's stock.

Electromed Profile

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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