Electromed (NYSE:ELMD) Director Kathleen Skarvan Sells 40,000 Shares

Electromed, Inc. (NYSE:ELMD) Director Kathleen Skarvan sold 40,000 shares of the company’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 completion of the sale, the director owned 35,622 shares in the company, valued at $1,263,868.56. This represents a 52.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Electromed Stock Up 0.3%

Shares of NYSE:ELMD opened at $38.37 on Wednesday. Electromed, Inc. has a 52-week low of $17.73 and a 52-week high of $39.25. The stock’s fifty day simple moving average is $25.95 and its 200-day simple moving average is $26.60. The company has a market capitalization of $317.70 million, a P/E ratio of 51.16 and a beta of 0.39.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Zacks Research upgraded Electromed from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Roth Mkm restated a “buy” rating and issued a $38.00 price objective on shares of Electromed in a research report on Wednesday, February 11th. Finally, B. Riley Financial upped their price objective on Electromed from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $37.50.

Hedge Funds Weigh In On Electromed

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

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.