Electromed (NYSE:ELMD) CFO Bradley Nagel Sells 11,801 Shares

Electromed, Inc. (NYSE:ELMD) CFO Bradley Nagel sold 11,801 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer owned 19,638 shares of the company’s stock, valued at $713,841.30. This trade represents a 37.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Electromed Trading Down 1.6%

ELMD stock traded down $0.61 during mid-day trading on Monday, hitting $37.08. 58,565 shares of the company were exchanged, compared to its average volume of 61,376. The business has a 50 day simple moving average of $29.79 and a 200-day simple moving average of $27.87. The stock has a market capitalization of $307.02 million, a PE ratio of 49.44 and a beta of 0.53. Electromed, Inc. has a 1-year low of $17.73 and a 1-year high of $40.00.

Institutional Investors Weigh In On Electromed

A number of hedge funds and other institutional investors have recently made changes to their positions in ELMD. Millennium Management LLC raised its position in shares of Electromed by 362.7% in the first 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 in the last quarter. NewEdge Advisors LLC raised its position in shares of Electromed by 20.1% in the first quarter. NewEdge Advisors LLC now owns 17,952 shares of the company’s stock valued at $428,000 after buying an additional 3,001 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Electromed by 9.0% in the first quarter. Goldman Sachs Group Inc. now owns 32,281 shares of the company’s stock valued at $770,000 after buying an additional 2,672 shares in the last quarter. 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 currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Roth Mkm restated a “buy” rating and set a $38.00 price objective on shares of Electromed in a research report on Wednesday, February 11th. Zacks Research upgraded shares of Electromed from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Finally, 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 research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $37.50.

Electromed Company 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.