Raymond James Financial Inc. Makes New Investment in Electromed, Inc. (NYSE:ELMD)

Raymond James Financial Inc. acquired a new stake in shares of Electromed, Inc. (NYSE:ELMD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 59,552 shares of the company's stock, valued at approximately $1,760,000. Raymond James Financial Inc. owned 0.70% of Electromed as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of ELMD. Ritholtz Wealth Management purchased a new position in shares of Electromed in the 4th quarter worth $488,000. Barclays PLC acquired a new position in shares of Electromed in the 3rd quarter valued at about $215,000. State Street Corp grew its holdings in shares of Electromed by 14.5% during the 3rd quarter. State Street Corp now owns 22,066 shares of the company's stock worth $474,000 after purchasing an additional 2,800 shares during the period. IFP Advisors Inc acquired a new stake in Electromed during the 4th quarter worth approximately $59,000. Finally, Walleye Capital LLC purchased a new position in Electromed in the third quarter valued at approximately $274,000. 40.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ELMD shares. StockNews.com lowered shares of Electromed from a "strong-buy" rating to a "buy" rating in a research report on Friday, March 28th. B. Riley started coverage on Electromed in a report on Thursday, February 20th. They issued a "buy" rating and a $38.00 price target for the company.

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Insider Buying and Selling at Electromed

In related news, Director Andrew Summers sold 50,751 shares of Electromed stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $27.30, for a total value of $1,385,502.30. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen Skarvan sold 8,640 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $32.25, for a total value of $278,640.00. Following the sale, the director now owns 71,576 shares in the company, valued at $2,308,326. The trade was a 10.77 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 corporate insiders.

Electromed Stock Down 5.4 %

Shares of NYSE ELMD traded down $1.29 during trading on Friday, reaching $22.30. 43,371 shares of the stock were exchanged, compared to its average volume of 67,023. The business's 50-day moving average price is $28.19 and its 200 day moving average price is $27.10. The company has a market capitalization of $190.78 million, a price-to-earnings ratio of 29.73 and a beta of 0.41. Electromed, Inc. has a twelve month low of $13.74 and a twelve month high of $35.56.

Electromed announced that its board has authorized a stock repurchase plan on Monday, March 10th that allows the company to buyback $5.00 million in shares. This buyback authorization allows the company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors 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.