Walleye Capital LLC Acquires Shares of 15,838 Electromed, Inc. $ELMD

Walleye Capital LLC acquired a new stake in shares of Electromed, Inc. (NYSE:ELMD) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 15,838 shares of the company’s stock, valued at approximately $371,000. Walleye Capital LLC owned 0.19% of Electromed at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ELMD. Kestra Advisory Services LLC bought a new stake in shares of Electromed during the 4th quarter valued at about $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Electromed in the fourth quarter worth about $43,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Electromed in the second quarter worth about $83,000. SG Americas Securities LLC purchased a new stake in Electromed in the fourth quarter worth about $114,000. Finally, New York State Common Retirement Fund purchased a new stake in Electromed in the second quarter worth about $103,000. 40.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Zacks Research cut Electromed from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. B. Riley Financial increased their target price on Electromed from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.50.

Electromed Stock Up 0.6%

Electromed stock opened at $38.41 on Friday. Electromed, Inc. has a twelve month low of $17.73 and a twelve month high of $47.40. The company has a market capitalization of $318.03 million, a P/E ratio of 51.21 and a beta of 0.50. The stock’s 50 day moving average is $40.01 and its 200 day moving average is $30.97.

Insider Transactions at Electromed

In other news, CEO James L. Cunniff sold 9,700 shares of the 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 directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kathleen Skarvan sold 40,000 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $35.48, for a total value of $1,419,200.00. Following the transaction, the director owned 35,622 shares of the company’s stock, valued at $1,263,868.56. The trade was a 52.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 61,501 shares of company stock valued at $2,202,216. Insiders own 10.50% of the company’s stock.

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.