Electromed, Inc. (NYSE:ELMD) Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC raised its holdings in shares of Electromed, Inc. (NYSE:ELMD) by 30.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,951 shares of the company’s stock after acquiring an additional 3,517 shares during the period. NewEdge Advisors LLC owned approximately 0.18% of Electromed worth $442,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ritholtz Wealth Management acquired a new stake in Electromed during the 4th quarter valued at approximately $488,000. Barclays PLC acquired a new position in shares of Electromed in the 3rd quarter valued at $215,000. State Street Corp lifted its stake in shares of Electromed by 14.5% in the 3rd quarter. State Street Corp now owns 22,066 shares of the company’s stock valued at $474,000 after purchasing an additional 2,800 shares during the period. IFP Advisors Inc acquired a new position in shares of Electromed in the 4th quarter valued at $59,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Electromed by 235.8% in the 4th quarter. Bank of New York Mellon Corp now owns 31,615 shares of the company’s stock valued at $934,000 after purchasing an additional 22,200 shares during the period. 40.82% of the stock is currently owned by institutional investors and hedge funds.

Electromed Stock Performance

Shares of NYSE ELMD opened at $22.87 on Tuesday. The firm has a market cap of $195.70 million, a PE ratio of 30.49 and a beta of 0.59. The firm has a fifty day moving average of $24.45 and a 200 day moving average of $27.41. Electromed, Inc. has a one year low of $13.74 and a one year high of $35.56.

Electromed announced that its board has initiated a share buyback program on Monday, March 10th that allows the company to buyback $5.00 million in shares. This buyback authorization allows the company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Andrew Summers sold 35,273 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $28.83, for a total transaction of $1,016,920.59. Following the completion of the sale, the director now owns 129,190 shares of the company’s stock, valued at $3,724,547.70. This represents a 21.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathleen Skarvan sold 38,954 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $29.28, for a total transaction of $1,140,573.12. Following the sale, the director now directly owns 32,622 shares of the company’s stock, valued at $955,172.16. The trade was a 54.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,618 shares of company stock valued at $3,821,636. 14.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on ELMD shares. StockNews.com cut shares of Electromed from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 28th. B. Riley started coverage on shares of Electromed in a research note on Thursday, February 20th. They issued a “buy” rating and a $38.00 target price for the company.

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.