Raymond James Financial Inc. Purchases New Stake in Electromed, Inc. (NYSE:ELMD)

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

A number of other large investors have also recently bought and sold shares of the business. Russell Investments Group Ltd. acquired a new stake in shares of Electromed in the 4th quarter worth about $37,000. IFP Advisors Inc acquired a new stake in shares of Electromed in the fourth quarter worth $59,000. Quantbot Technologies LP acquired a new position in Electromed in the 4th quarter valued at approximately $99,000. Barclays PLC acquired a new stake in Electromed during the third quarter valued at $215,000. Finally, Bailard Inc. acquired a new position in Electromed in the fourth quarter worth approximately $224,000. Institutional investors own 40.82% of the company’s stock.

Electromed Trading Up 0.1 %

NYSE:ELMD opened at $23.05 on Friday. The stock has a market capitalization of $197.24 million, a P/E ratio of 30.73 and a beta of 0.59. Electromed, Inc. has a 1 year low of $13.74 and a 1 year high of $35.56. The firm has a 50 day moving average of $24.02 and a 200-day moving average of $27.35.

Electromed declared that its board has authorized a stock buyback 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 typically a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Andrew Summers sold 35,273 shares of Electromed stock in a transaction that occurred on 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 transaction, the director now owns 129,190 shares of the company’s stock, valued at $3,724,547.70. This trade represents a 21.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathleen Skarvan sold 38,954 shares of the company’s stock in a transaction on 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 sale, the director now owns 32,622 shares of the company’s stock, valued at approximately $955,172.16. This represents a 54.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,618 shares of company stock valued at $3,821,636. 14.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ELMD has been the topic of a number of analyst reports. StockNews.com raised Electromed from a “buy” rating to a “strong-buy” rating in a report on Wednesday. B. Riley began 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.

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.