Walleye Capital LLC Acquires Shares of 16,659 Electromed, Inc. $ELMD

Key Points

• Walleye Capital LLC purchased 16,659 shares of Electromed, Inc., valued at approximately $397,000, increasing their stake to about 0.19% of the company.
• Electromed, Inc. has seen a rise in institutional investor interest, with ownership now at 40.82%, including significant increases from firms like Bank of America and Squarepoint Ops.
• Analyst ratings for Electromed have been largely positive, with a consensus target price of $36.25 and recent upgrades to a "strong-buy" rating by B. Riley.

Walleye Capital LLC bought a new position in shares of Electromed, Inc. (NYSE:ELMD - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 16,659 shares of the company's stock, valued at approximately $397,000. Walleye Capital LLC owned 0.19% of Electromed at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Jump Financial LLC boosted its stake in Electromed by 63.3% during the first quarter. Jump Financial LLC now owns 13,118 shares of the company's stock worth $313,000 after buying an additional 5,084 shares during the period. AlphaQuest LLC acquired a new stake in shares of Electromed during the first quarter worth about $285,000. EntryPoint Capital LLC acquired a new stake in shares of Electromed during the first quarter worth about $462,000. Quantbot Technologies LP lifted its position in shares of Electromed by 57.7% during the first quarter. Quantbot Technologies LP now owns 5,301 shares of the company's stock worth $126,000 after purchasing an additional 1,939 shares in the last quarter. Finally, Algert Global LLC lifted its position in shares of Electromed by 19.2% during the first quarter. Algert Global LLC now owns 13,041 shares of the company's stock worth $311,000 after purchasing an additional 2,101 shares in the last quarter. Hedge funds and other institutional investors own 40.82% of the company's stock.

Electromed Trading Down 1.8%

NYSE:ELMD traded down $0.44 during mid-day trading on Friday, hitting $24.47. The stock had a trading volume of 87,111 shares, compared to its average volume of 83,934. The stock has a 50-day simple moving average of $20.16 and a two-hundred day simple moving average of $21.84. The company has a market capitalization of $204.30 million, a PE ratio of 32.63 and a beta of 0.54. Electromed, Inc. has a twelve month low of $16.58 and a twelve month high of $35.56.

Wall Street Analyst Weigh In

ELMD has been the topic of several research reports. B. Riley raised shares of Electromed to a "strong-buy" rating in a research report on Thursday, May 15th. Loop Capital set a $36.00 price target on shares of Electromed in a research report on Wednesday, August 27th. Lake Street Capital initiated coverage on shares of Electromed in a research report on Wednesday, August 27th. They set a "buy" rating and a $36.00 price target on the stock. Finally, Roth Capital increased their price target 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. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $36.25.

About Electromed

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.