Electromed (NYSE:ELMD) CEO James Cunniff Sells 9,700 Shares

Electromed, Inc. (NYSE:ELMD) CEO James Cunniff sold 9,700 shares of Electromed stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $36.50, for a total value of $354,050.00. Following the completion of the transaction, the chief executive officer owned 147,751 shares in the company, valued at approximately $5,392,911.50. This represents a 6.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Electromed Stock Down 2.1%

Shares of NYSE ELMD traded down $0.79 during midday trading on Tuesday, reaching $36.29. 48,927 shares of the company were exchanged, compared to its average volume of 61,247. The stock’s 50-day moving average price is $29.79 and its 200-day moving average price is $27.87. The stock has a market cap of $300.48 million, a P/E ratio of 48.39 and a beta of 0.53. Electromed, Inc. has a one year low of $17.73 and a one year high of $40.00.

Institutional Trading of Electromed

Several institutional investors have recently modified their holdings of ELMD. Kestra Advisory Services LLC bought a new stake in shares of Electromed in the fourth quarter worth $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Electromed during the 4th quarter worth approximately $43,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Electromed during the 2nd quarter worth approximately $83,000. New York State Common Retirement Fund acquired a new position in shares of Electromed in the 2nd quarter worth approximately $103,000. Finally, SG Americas Securities LLC acquired a new position in shares of Electromed in the 4th quarter worth approximately $114,000. Institutional investors own 40.82% of the company’s stock.

Analysts Set New Price Targets

ELMD has been the topic of several research reports. B. Riley Financial boosted their price target on Electromed from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Roth Mkm reissued a “buy” rating and set a $38.00 target price on shares of Electromed in a report on Wednesday, February 11th. Finally, Zacks Research raised shares of Electromed from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $37.50.

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.