Sowell Financial Services LLC Buys Shares of 51,386 Electromed, Inc. (NYSE:ELMD)

Sowell Financial Services LLC bought a new stake in Electromed, Inc. (NYSE:ELMD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 51,386 shares of the company's stock, valued at approximately $1,518,000. Sowell Financial Services LLC owned approximately 0.61% of Electromed at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. IFP Advisors Inc acquired a new stake in Electromed in the fourth quarter valued at $59,000. Barclays PLC bought a new position in shares of Electromed during the third quarter worth about $215,000. Bailard Inc. acquired a new position in shares of Electromed in the fourth quarter worth approximately $224,000. Wilmington Savings Fund Society FSB bought a new stake in Electromed in the third quarter valued at approximately $226,000. Finally, Legacy Wealth Asset Management LLC bought a new position in Electromed during the 4th quarter worth approximately $253,000. Institutional investors own 40.82% of the company's stock.

Insider Activity at Electromed

In related news, Director Kathleen Skarvan sold 38,954 shares of the stock in a transaction dated 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 transaction, the director now owns 32,622 shares in the company, valued at approximately $955,172.16. This represents a 54.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew Summers sold 50,751 shares of the firm's stock in a transaction dated 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. This trade represents a 43.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,618 shares of company stock valued at $3,821,636 over the last 90 days. Insiders own 14.00% of the company's stock.

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Electromed Stock Performance

Shares of NYSE ELMD traded up $0.02 during trading on Friday, hitting $24.62. 61,227 shares of the company traded hands, compared to its average volume of 65,091. The firm has a market capitalization of $210.67 million, a price-to-earnings ratio of 32.83 and a beta of 0.41. The business's fifty day moving average is $30.56 and its 200 day moving average is $26.34. Electromed, Inc. has a fifty-two week low of $13.74 and a fifty-two week high of $35.56.

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

Wall Street Analyst Weigh In

ELMD has been the subject of several recent analyst reports. B. Riley initiated coverage on shares of Electromed in a research report on Thursday, February 20th. They set a "buy" rating and a $38.00 price objective for the company. StockNews.com lowered Electromed from a "strong-buy" rating to a "buy" rating in a research report on Monday.

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.