Electromed: Some Short Term Gain But I Fear Long Term Pain

2026-02-23 22:35:52 ET

Company Background

Electromed ( ELMD ) is a small medical device company based in Minnesota. It was founded in 1992 by Robert D. Hansen and Craig N. Hansen, and it IPO’d in 2010 at $4 a share. Shareholders did pretty poorly in the first 9 years or so, but since late 2019, the company hit an inflection point and shareholders have done very well since then. Their 10-year chart (below) looks good. They have outperformed the market (in green) by a wide margin but also progressed through several long drawn-out periods of share-price stagnation and low volume, such as before 2019 and from late 2020 to early 2024. From Jan 2024-Jan 2025 the share price more than tripled, reaching an all-time high of $34, but shares have since fallen in roller-coaster fashion to below $25 today. It is encouraging that volume has picked up over the last year or so....

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