Electromed, Inc. $ELMD Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its holdings in shares of Electromed, Inc. (NYSE:ELMD) by 28.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 124,004 shares of the company’s stock after selling 49,000 shares during the quarter. Renaissance Technologies LLC’s holdings in Electromed were worth $2,903,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in ELMD. Millennium Management LLC boosted its stake in shares of Electromed by 362.7% during the 1st quarter. Millennium Management LLC now owns 194,519 shares of the company’s stock valued at $4,641,000 after buying an additional 152,480 shares during the last quarter. Invesco Ltd. acquired a new stake in Electromed in the fourth quarter valued at $3,017,000. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 87,401 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Electromed by 117.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 64,371 shares of the company’s stock valued at $1,416,000 after acquiring an additional 34,799 shares during the last quarter. Finally, North Star Investment Management Corp. bought a new position in Electromed during the 1st quarter valued at $796,000. 40.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Electromed news, Director Kathleen Skarvan sold 40,000 shares of Electromed 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 transaction, the director directly owned 35,622 shares in the company, valued at $1,263,868.56. The trade was a 52.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James L. Cunniff sold 9,700 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $36.50, for a total value of $354,050.00. Following the transaction, the chief executive officer directly owned 147,751 shares of the company’s stock, valued at $5,392,911.50. This trade represents a 6.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 61,501 shares of company stock worth $2,202,216 over the last quarter. 10.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on ELMD shares. B. Riley Financial raised their price objective on shares of Electromed from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Zacks Research cut shares of Electromed from a “strong-buy” rating to a “hold” rating in a research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.50.

Electromed Stock Performance

Electromed stock opened at $42.19 on Friday. Electromed, Inc. has a 1 year low of $18.55 and a 1 year high of $47.40. The firm’s 50-day moving average is $40.56 and its 200-day moving average is $31.85. The company has a market cap of $349.33 million, a P/E ratio of 56.25 and a beta of 0.51.

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.