Aristides Capital LLC Grows Stock Position in Electromed, Inc. (NYSE:ELMD)

Aristides Capital LLC increased its position in shares of Electromed, Inc. (NYSE:ELMD) by 4.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,076 shares of the company’s stock after purchasing an additional 1,159 shares during the quarter. Aristides Capital LLC owned approximately 0.31% of Electromed worth $771,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership grew its holdings in shares of Electromed by 261.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 114,579 shares of the company’s stock worth $3,386,000 after buying an additional 82,839 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Electromed during the 4th quarter valued at about $1,760,000. Navellier & Associates Inc. grew its stake in 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. Sowell Financial Services LLC acquired a new stake in Electromed in the 4th quarter valued at about $1,518,000. Finally, Bank of New York Mellon Corp lifted its stake 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 owned by institutional investors and hedge funds.

Electromed Price Performance

NYSE:ELMD opened at $22.39 on Friday. The company’s 50-day moving average is $27.97 and its two-hundred day moving average is $27.18. Electromed, Inc. has a 1-year low of $13.74 and a 1-year high of $35.56. The firm has a market capitalization of $191.59 million, a price-to-earnings ratio of 29.85 and a beta of 0.41.

Electromed declared that its Board of Directors has initiated a stock repurchase plan on Monday, March 10th that authorizes the company to repurchase $5.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other Electromed news, Director Kathleen Skarvan sold 38,954 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 32,622 shares of the company’s stock, valued at $955,172.16. This trade represents a 54.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Andrew Summers sold 35,273 shares of Electromed stock in a transaction dated 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 sale, the director now owns 129,190 shares of the company’s stock, valued at approximately $3,724,547.70. This represents a 21.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,618 shares of company stock valued at $3,821,636. 14.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ELMD has been the subject of several recent research reports. B. Riley initiated coverage on Electromed in a report on Thursday, February 20th. They issued a “buy” rating and a $38.00 price target for the company. StockNews.com downgraded Electromed from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 28th.

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.