Sowell Financial Services LLC Acquires Shares of 51,386 Electromed, Inc. (NYSE:ELMD)

Sowell Financial Services LLC acquired a new stake in Electromed, Inc. (NYSE:ELMD) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 51,386 shares of the company’s stock, valued at approximately $1,518,000.

Several other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in Electromed in the 4th quarter valued at $1,760,000. Navellier & Associates Inc. increased its stake in Electromed by 228.5% in the 4th quarter. Navellier & Associates Inc. now owns 56,368 shares of the company’s stock valued at $1,666,000 after buying an additional 39,208 shares during the period. Pekin Hardy Strauss Inc. increased its stake in Electromed by 9.9% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 38,185 shares of the company’s stock valued at $820,000 after buying an additional 3,435 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Electromed by 235.8% during 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. Finally, Ellsworth Advisors LLC purchased a new stake in shares of Electromed during the 4th quarter worth $734,000. 40.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. B. Riley assumed coverage on shares of Electromed in a research report on Thursday, February 20th. They set a “buy” rating and a $38.00 target price on the stock. StockNews.com lowered shares of Electromed from a “strong-buy” rating to a “buy” rating in a research report on Monday.

Electromed Stock Performance

Shares of NYSE ELMD opened at $24.70 on Tuesday. Electromed, Inc. has a one year low of $13.74 and a one year high of $35.56. The company’s fifty day moving average is $30.85 and its two-hundred day moving average is $26.29. The firm has a market capitalization of $211.36 million, a P/E ratio of 32.93 and a beta of 0.41.

Electromed announced that its board has approved a stock repurchase program on Monday, March 10th that allows the company to repurchase $5.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Andrew Summers sold 50,751 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 65,714 shares in the company, valued at $1,793,992.20. The trade was a 43.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathleen Skarvan sold 8,640 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $32.25, for a total transaction of $278,640.00. Following the completion of the sale, the director now owns 71,576 shares in the company, valued at $2,308,326. This represents a 10.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,618 shares of company stock worth $3,821,636 in the last three months. Corporate insiders own 14.00% of the company’s stock.

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.