North Star Investment Management Corp. Takes $796,000 Position in Electromed, Inc. $ELMD

North Star Investment Management Corp. bought a new position in shares of Electromed, Inc. (NYSE:ELMD) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 34,000 shares of the company’s stock, valued at approximately $796,000. North Star Investment Management Corp. owned 0.41% of Electromed at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Millennium Management LLC boosted its stake in Electromed by 362.7% in the 1st quarter. Millennium Management LLC now owns 194,519 shares of the company’s stock valued at $4,641,000 after purchasing an additional 152,480 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Electromed by 20.1% during the first quarter. NewEdge Advisors LLC now owns 17,952 shares of the company’s stock worth $428,000 after buying an additional 3,001 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Electromed by 9.0% during the first quarter. Goldman Sachs Group Inc. now owns 32,281 shares of the company’s stock worth $770,000 after buying an additional 2,672 shares in the last quarter. Jane Street Group LLC boosted 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 acquiring an additional 32,456 shares during the period. Finally, Geode Capital Management LLC boosted 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 acquiring an additional 87,401 shares during the period. 40.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kathleen Skarvan sold 40,000 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $35.48, for a total transaction of $1,419,200.00. Following the completion of the transaction, the director owned 35,622 shares of the company’s stock, valued at approximately $1,263,868.56. The trade was a 52.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James L. Cunniff sold 9,700 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $36.50, for a total value of $354,050.00. Following the sale, the chief executive officer owned 147,751 shares of the company’s stock, valued at approximately $5,392,911.50. This represents a 6.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 61,501 shares of company stock worth $2,202,216. Insiders own 10.50% of the company’s stock.

Electromed Trading Up 1.9%

NYSE ELMD opened at $42.23 on Tuesday. The firm’s 50 day simple moving average is $34.05 and its 200 day simple moving average is $29.08. The firm has a market capitalization of $349.66 million, a price-to-earnings ratio of 56.31 and a beta of 0.53. Electromed, Inc. has a 1 year low of $17.73 and a 1 year high of $43.05.

Analysts Set New Price Targets

Several research firms recently commented on ELMD. B. Riley Financial upped their price target on shares of Electromed from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Zacks Research raised shares of Electromed from a “hold” rating to a “strong-buy” rating in a report 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. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus 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.