Punch & Associates Investment Management Inc. Purchases Shares of 218,520 Electromed, Inc. $ELMD

Key Points

• Punch & Associates acquired 218,520 Electromed shares worth approximately $9.24 million, giving it a 2.64% stake. Institutional investors collectively own 40.82% of the company.
• Analysts remain generally positive, with three Buy ratings and one Hold rating. Electromed has a “Moderate Buy” consensus and an average price target of $43.75.
• ELMD shares opened at $31.77 after falling 19.2%; meanwhile, the CEO and CFO recently sold shares, reducing their respective holdings by 6.16% and 37.54%.

Punch & Associates Investment Management Inc. purchased a new position in shares of Electromed, Inc. (NYSE:ELMD - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 218,520 shares of the company's stock, valued at approximately $9,243,000. Punch & Associates Investment Management Inc. owned about 2.64% of Electromed at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Kestra Advisory Services LLC acquired a new position in shares of Electromed in the 4th quarter valued at about $29,000. Legal & General Group Plc purchased a new position in Electromed in the second quarter valued at approximately $82,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Electromed in the second quarter valued at approximately $83,000. New York State Common Retirement Fund acquired a new position in Electromed during the second quarter valued at approximately $103,000. Finally, SG Americas Securities LLC lifted its position in Electromed by 51.5% during the first quarter. SG Americas Securities LLC now owns 5,905 shares of the company's stock valued at $138,000 after buying an additional 2,007 shares in the last quarter. 40.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, CEO James L. Cunniff sold 9,700 shares of Electromed stock in a transaction on Monday, June 8th. The shares were sold at an average price of $36.50, for a total transaction of $354,050.00. Following the sale, the chief executive officer owned 147,751 shares of the company's stock, valued at $5,392,911.50. The trade was a 6.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Bradley M. Nagel sold 11,801 shares of the business's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $36.35, for a total transaction of $428,966.35. Following the completion of the transaction, the chief financial officer owned 19,638 shares in the company, valued at $713,841.30. This represents a 37.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 10.50% of the stock is currently owned by company insiders.

Electromed Stock Down 19.2%

ELMD opened at $31.77 on Thursday. The firm has a market capitalization of $263.06 million, a P/E ratio of 42.36 and a beta of 0.51. The firm's 50 day moving average is $41.44 and its 200-day moving average is $32.93. Electromed, Inc. has a 52-week low of $23.01 and a 52-week high of $47.40.

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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