Aristides Capital LLC Increases Holdings in Electromed, Inc. (NYSE:ELMD)

Aristides Capital LLC grew its holdings in Electromed, Inc. (NYSE:ELMD) by 4.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 26,076 shares of the company’s stock after acquiring an additional 1,159 shares during the quarter. Aristides Capital LLC’s holdings in Electromed were worth $771,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Walleye Capital LLC purchased a new position in Electromed in the third quarter valued at approximately $274,000. State Street Corp grew its position 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 buying an additional 2,800 shares during the last quarter. Barclays PLC acquired a new stake in Electromed during the 3rd quarter worth $215,000. Wilmington Savings Fund Society FSB purchased a new stake in Electromed in the third quarter valued at $226,000. Finally, Legacy Wealth Asset Management LLC purchased a new position in shares of Electromed during the fourth quarter worth about $253,000. Institutional investors and hedge funds own 40.82% of the company’s stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, Director Kathleen Skarvan sold 38,954 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $29.28, for a total value of $1,140,573.12. Following the completion of the sale, the director now owns 32,622 shares in the company, valued at approximately $955,172.16. This trade represents a 54.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew Summers sold 50,751 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $27.30, for a total transaction of $1,385,502.30. Following the transaction, the director now owns 65,714 shares in the company, valued at approximately $1,793,992.20. This trade represents a 43.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,618 shares of company stock valued at $3,821,636. 14.00% of the stock is owned by company insiders.

Electromed Stock Performance

NYSE ELMD opened at $22.39 on Friday. Electromed, Inc. has a one year low of $13.74 and a one year high of $35.56. The firm has a market cap of $191.59 million, a PE ratio of 29.85 and a beta of 0.41. The firm’s fifty day moving average is $27.97 and its two-hundred day moving average is $27.18.

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

Electromed 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.