32,622 Shares of Electromed, Inc. $ELMD Acquired by Bernicke Wealth Management Ltd.

Bernicke Wealth Management Ltd. acquired a new stake in Electromed, Inc. (NYSE:ELMD) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 32,622 shares of the company’s stock, valued at approximately $921,000. Bernicke Wealth Management Ltd. owned 0.39% of Electromed at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Electromed during the 2nd quarter worth about $19,696,000. Punch & Associates Investment Management Inc. bought a new stake in shares of Electromed in the 2nd quarter valued at about $9,243,000. Bank of New York Mellon Corp purchased a new stake in shares of Electromed in the 2nd quarter worth approximately $1,947,000. Isthmus Partners LLC purchased a new stake in shares of Electromed in the 3rd quarter worth approximately $1,173,000. Finally, Man Group plc purchased a new stake in shares of Electromed in the 2nd quarter worth approximately $1,601,000. 40.82% of the stock is currently owned by institutional investors.

Electromed Price Performance

Shares of ELMD stock opened at $24.32 on Friday. The stock’s 50-day moving average is $27.22 and its 200 day moving average is $31.22. Electromed, Inc. has a 1-year low of $23.01 and a 1-year high of $47.40. The company has a market cap of $201.54 million, a P/E ratio of 32.43 and a beta of 0.43.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Lake Street Capital increased their price objective on shares of Electromed from $36.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. Morgan Stanley set a $50.00 price objective on shares of Electromed in a research note on Wednesday, August 26th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.75.

Electromed Company Profile

Electromed, Inc. develops, manufactures and markets airway clearance products for people who have difficulty clearing mucus from their lungs. Its products use high-frequency chest wall oscillation, a therapy that applies gentle vibrations to the chest to help loosen and move airway secretions. The company’s main product line is the SmartVest Airway Clearance System, which includes wearable vests and related equipment. These systems are used in managing conditions associated with impaired mucus clearance, including bronchiectasis, cystic fibrosis and certain neuromuscular disorders.