Jane Street Group LLC Invests $703,000 in Electromed, Inc. (NYSE:ELMD)

Jane Street Group LLC bought a new position in Electromed, Inc. (NYSE:ELMD) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 23,807 shares of the company’s stock, valued at approximately $703,000. Jane Street Group LLC owned approximately 0.28% of Electromed at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ELMD. Russell Investments Group Ltd. acquired a new position in shares of Electromed in the 4th quarter worth approximately $37,000. IFP Advisors Inc acquired a new position in shares of Electromed in the 4th quarter worth approximately $59,000. Quantbot Technologies LP acquired a new position in shares of Electromed in the 4th quarter worth approximately $99,000. Tower Research Capital LLC TRC grew its position in shares of Electromed by 426.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,055 shares of the company’s stock worth $149,000 after acquiring an additional 4,095 shares in the last quarter. Finally, Bailard Inc. acquired a new position in shares of Electromed in the 4th quarter worth approximately $224,000. Institutional investors and hedge funds own 40.82% of the company’s stock.

Electromed Price Performance

NYSE:ELMD opened at $19.65 on Monday. Electromed, Inc. has a 12-month low of $13.74 and a 12-month high of $35.56. The firm has a market capitalization of $164.78 million, a P/E ratio of 26.20 and a beta of 0.46. The business has a 50 day simple moving average of $22.72 and a 200 day simple moving average of $27.24.

Electromed declared that its Board of Directors has initiated a share buyback program 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 programs are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

ELMD has been the subject of several research reports. B. Riley upgraded Electromed to a “strong-buy” rating in a research report on Thursday, May 15th. Wall Street Zen lowered Electromed from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 8th.

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.