Electromed, Inc. (NYSE:ELMD) Stock Position Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of Electromed, Inc. (NYSE:ELMD - Free Report) by 235.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,615 shares of the company's stock after buying an additional 22,200 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.37% of Electromed worth $934,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ELMD. IFP Advisors Inc acquired a new position in Electromed during the 4th quarter worth $59,000. Legacy Wealth Asset Management LLC acquired a new position in Electromed in the fourth quarter worth about $253,000. Barclays PLC acquired a new position in Electromed in the third quarter worth about $215,000. Wilmington Savings Fund Society FSB bought a new stake in Electromed in the third quarter valued at about $226,000. Finally, Walleye Capital LLC acquired a new stake in Electromed during the third quarter valued at approximately $274,000. Institutional investors own 40.82% of the company's stock.

Analyst Upgrades and Downgrades

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

Remove Ads

Insider Transactions at Electromed

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

Electromed Trading Down 1.3 %

ELMD traded down $0.30 on Friday, hitting $23.34. 80,678 shares of the company's stock were exchanged, compared to its average volume of 66,703. The stock has a fifty day moving average of $28.97 and a two-hundred day moving average of $27.00. Electromed, Inc. has a twelve month low of $13.74 and a twelve month high of $35.56. The firm has a market cap of $199.72 million, a PE ratio of 31.12 and a beta of 0.41.

Electromed announced that its board has approved a share repurchase program on Monday, March 10th that authorizes the company to buyback $5.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management 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.