Cubist Systematic Strategies LLC Raises Stock Position in Electromed, Inc. $ELMD

Cubist Systematic Strategies LLC grew its holdings in shares of Electromed, Inc. (NYSE:ELMD) by 246.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,921 shares of the company’s stock after purchasing an additional 23,425 shares during the period. Cubist Systematic Strategies LLC owned about 0.38% of Electromed worth $785,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ELMD. Lazard Asset Management LLC increased its stake in Electromed by 19,860.8% during the fourth quarter. Lazard Asset Management LLC now owns 47,906 shares of the company’s stock worth $1,415,000 after purchasing an additional 47,666 shares during the period. Two Sigma Investments LP purchased a new stake in Electromed during the fourth quarter worth about $1,255,000. Janus Henderson Group PLC purchased a new stake in Electromed during the fourth quarter worth about $896,000. Millennium Management LLC increased its stake in Electromed by 171.8% during the fourth quarter. Millennium Management LLC now owns 42,039 shares of the company’s stock worth $1,242,000 after purchasing an additional 26,571 shares during the period. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Electromed during the fourth quarter worth approximately $736,000. 40.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ELMD shares. B. Riley upgraded shares of Electromed to a “strong-buy” rating in a research note on Thursday, May 15th. Loop Capital set a $36.00 target price on shares of Electromed in a research note on Wednesday, August 27th. Lake Street Capital started coverage on shares of Electromed in a research note on Wednesday, August 27th. They set a “buy” rating and a $36.00 target price on the stock. Finally, Roth Capital upped their target price on shares of Electromed from $29.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, August 27th. One research 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.com, Electromed currently has an average rating of “Buy” and a consensus price target of $36.25.

Electromed Stock Up 6.6%

Shares of Electromed stock opened at $26.61 on Wednesday. The firm has a market capitalization of $222.17 million, a P/E ratio of 35.48 and a beta of 0.54. Electromed, Inc. has a 52 week low of $16.58 and a 52 week high of $35.56. The firm’s 50 day moving average is $20.32 and its two-hundred day moving average is $21.86.

Electromed Company 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.