Bridgeway Capital Management LLC Decreases Stake in Electromed, Inc. (NYSE:ELMD)

Bridgeway Capital Management LLC lessened its holdings in shares of Electromed, Inc. (NYSE:ELMD) by 1.9% during the fourth quarter, Holdings Channel reports. The firm owned 77,863 shares of the company’s stock after selling 1,500 shares during the quarter. Bridgeway Capital Management LLC’s holdings in Electromed were worth $2,301,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ELMD. Arrowstreet Capital Limited Partnership boosted its position 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 valued at $3,386,000 after buying an additional 82,839 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Electromed in the 4th quarter worth $1,760,000. Sowell Financial Services LLC purchased a new stake in shares of Electromed during the fourth quarter worth about $1,518,000. Navellier & Associates Inc. raised its position in shares of Electromed by 228.5% during the fourth 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 last quarter. Finally, Susquehanna International Group LLP grew its stake in Electromed by 121.8% during the fourth quarter. Susquehanna International Group LLP now owns 56,726 shares of the company’s stock valued at $1,676,000 after acquiring an additional 31,148 shares in the last quarter. 40.82% of the stock is currently owned by institutional investors.

Electromed Stock Performance

NYSE:ELMD opened at $22.20 on Friday. The stock has a market capitalization of $189.97 million, a P/E ratio of 29.60 and a beta of 0.46. Electromed, Inc. has a fifty-two week low of $13.74 and a fifty-two week high of $35.56. The company’s 50-day simple moving average is $23.58 and its 200-day simple moving average is $27.33.

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.

Analysts Set New Price Targets

A number of research firms recently commented on ELMD. B. Riley began coverage on Electromed in a research report on Thursday, February 20th. They issued a “buy” rating and a $38.00 target price on the stock. StockNews.com lowered Electromed from a “strong-buy” rating to a “buy” rating in a research note on Thursday.

Insider Buying and Selling at Electromed

In other Electromed news, Director Kathleen Skarvan sold 38,954 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 32,622 shares in the company, valued at approximately $955,172.16. The trade was a 54.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew Summers sold 50,751 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $27.30, for a total transaction of $1,385,502.30. Following the sale, the director now directly owns 65,714 shares of the company’s stock, valued at approximately $1,793,992.20. This represents a 43.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,618 shares of company stock worth $3,821,636. 14.00% of the stock is currently 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.