Quantbot Technologies LP Buys Shares of 3,362 Electromed, Inc. (NYSE:ELMD)

Quantbot Technologies LP bought a new position in Electromed, Inc. (NYSE:ELMD) in the fourth quarter, Holdings Channel.com reports. The firm bought 3,362 shares of the company’s stock, valued at approximately $99,000.

A number of other hedge funds also recently made changes to their positions in ELMD. Raymond James Financial Inc. bought a new position in Electromed in the 4th quarter valued at approximately $1,760,000. Sowell Financial Services LLC bought a new position in shares of Electromed in the 4th quarter valued at $1,518,000. Navellier & Associates Inc. boosted its holdings in shares of Electromed by 228.5% during the 4th quarter. Navellier & Associates Inc. now owns 56,368 shares of the company’s stock valued at $1,666,000 after acquiring an additional 39,208 shares in the last quarter. Ellsworth Advisors LLC bought a new stake in Electromed during the 4th quarter worth $734,000. Finally, Bank of New York Mellon Corp increased its holdings in Electromed by 235.8% in the 4th quarter. Bank of New York Mellon Corp now owns 31,615 shares of the company’s stock worth $934,000 after purchasing an additional 22,200 shares in the last quarter. 40.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. B. Riley began coverage on Electromed in a report on Thursday, February 20th. They set a “buy” rating and a $38.00 price target on the stock. StockNews.com lowered shares of Electromed from a “strong-buy” rating to a “buy” rating in a report on Friday.

Electromed Stock Up 2.2 %

Shares of NYSE:ELMD opened at $23.86 on Tuesday. The firm has a market cap of $204.17 million, a P/E ratio of 31.81 and a beta of 0.41. Electromed, Inc. has a 12-month low of $13.74 and a 12-month high of $35.56. The business has a fifty day simple moving average of $28.77 and a 200 day simple moving average of $27.11.

Electromed announced that its board has approved a stock repurchase 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 typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Electromed

In related news, Director Andrew Summers sold 50,751 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $27.30, for a total value of $1,385,502.30. Following the transaction, the director now owns 65,714 shares in the company, valued at $1,793,992.20. The trade was a 43.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathleen Skarvan sold 38,954 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were 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 in the company, valued at $955,172.16. This trade represents a 54.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,618 shares of company stock worth $3,821,636 over the last ninety days. 14.00% of the stock is owned by insiders.

About Electromed

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.