59,552 Shares in Electromed, Inc. (NYSE:ELMD) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in Electromed, Inc. (NYSE:ELMD) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 59,552 shares of the company’s stock, valued at approximately $1,760,000. Raymond James Financial Inc. owned 0.70% of Electromed at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ELMD. Ritholtz Wealth Management purchased a new stake in shares of Electromed in the fourth quarter worth $488,000. Barclays PLC bought a new stake in shares of Electromed during the 3rd quarter valued at about $215,000. State Street Corp boosted its position in shares of Electromed by 14.5% during the 3rd quarter. State Street Corp now owns 22,066 shares of the company’s stock valued at $474,000 after acquiring an additional 2,800 shares during the last quarter. IFP Advisors Inc purchased a new position in shares of Electromed during the fourth quarter worth about $59,000. Finally, Walleye Capital LLC bought a new position in shares of Electromed in the third quarter worth approximately $274,000. 40.82% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Electromed news, Director Andrew Summers sold 50,751 shares of the firm’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 sale, the director now owns 65,714 shares of the company’s stock, valued at $1,793,992.20. This trade represents a 43.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathleen Skarvan sold 8,640 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $32.25, for a total transaction of $278,640.00. Following the transaction, the director now directly owns 71,576 shares of the company’s stock, valued at approximately $2,308,326. This trade represents a 10.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,618 shares of company stock worth $3,821,636 in the last 90 days. 14.00% of the stock is owned by company insiders.

Analyst Ratings Changes

ELMD has been the topic of a number of research analyst reports. B. Riley initiated coverage on shares of Electromed in a report on Thursday, February 20th. They issued a “buy” rating and a $38.00 price target on the stock. StockNews.com cut Electromed from a “strong-buy” rating to a “buy” rating in a research note on Friday.

Electromed Price Performance

Shares of 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 1 year low of $13.74 and a 1 year high of $35.56. The stock has a 50 day simple moving average of $28.77 and a two-hundred day simple moving average of $27.11.

Electromed declared that its Board of Directors has approved a share repurchase plan on Monday, March 10th that allows the company to buyback $5.00 million in shares. This buyback authorization allows the company to buy up to 2.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.