American Century Companies Inc. Raises Stake in Electromed, Inc. $ELMD

American Century Companies Inc. grew its stake in shares of Electromed, Inc. (NYSE:ELMD) by 32.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,062 shares of the company’s stock after purchasing an additional 7,624 shares during the quarter. American Century Companies Inc. owned approximately 0.36% of Electromed worth $741,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its stake in shares of Electromed by 557.0% during the first quarter. Russell Investments Group Ltd. now owns 7,969 shares of the company’s stock valued at $186,000 after purchasing an additional 6,756 shares during the period. XTX Topco Ltd boosted its stake in shares of Electromed by 57.4% during the first quarter. XTX Topco Ltd now owns 16,414 shares of the company’s stock valued at $392,000 after purchasing an additional 5,985 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Electromed during the first quarter valued at approximately $394,000. Bank of New York Mellon Corp boosted its stake in shares of Electromed by 14.7% during the first quarter. Bank of New York Mellon Corp now owns 36,276 shares of the company’s stock valued at $866,000 after purchasing an additional 4,661 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Electromed during the fourth quarter valued at approximately $285,000. Hedge funds and other institutional investors own 40.82% of the company’s stock.

Electromed Trading Up 4.5%

ELMD opened at $24.91 on Friday. The stock has a fifty day simple moving average of $20.11 and a two-hundred day simple moving average of $21.98. The company has a market cap of $207.97 million, a price-to-earnings ratio of 33.21 and a beta of 0.54. Electromed, Inc. has a 12-month low of $16.40 and a 12-month high of $35.56.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Loop Capital set a $36.00 price objective on Electromed in a research note on Wednesday, August 27th. Roth Capital increased their price objective on Electromed from $29.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, August 27th. Lake Street Capital initiated coverage on Electromed in a research note on Wednesday, August 27th. They issued a “buy” rating and a $36.00 price target for the company. B. Riley raised Electromed to a “strong-buy” rating in a research note on Thursday, May 15th. Finally, Wall Street Zen lowered Electromed from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $36.25.

Electromed Profile

Electromed, Inc develops, manufactures, markets, and sells airway clearance therapy and related products that apply high frequency chest wall oscillation (HFCWO) therapy in pulmonary care for patients of various ages in the United States and internationally. The company offers SmartVest airway clearance system for patients with compromised pulmonary functions, including bronchiectasis and cystic fibrosis, as well as neuromuscular conditions, such as cerebral palsy and amyotrophic lateral sclerosis; SmartVest SQL System; SmartVest Clearway System that consists of an inflatable therapy garment, a programmable air pulse generator, and a patented single-hose that delivers air pulses from the generator to the garment to create oscillatory pressure on the chest wall; and SmartVest Connect, a wireless technology that allows data connection between physicians and patients to track therapy performance and collaborate in treatment decisions.