24,943 Shares in Electromed, Inc. (NYSE:ELMD) Acquired by 683 Capital Management LLC

683 Capital Management LLC purchased a new stake in shares of Electromed, Inc. (NYSE:ELMD - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 24,943 shares of the company's stock, valued at approximately $737,000. 683 Capital Management LLC owned approximately 0.29% of Electromed as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in Electromed in the fourth quarter worth about $37,000. IFP Advisors Inc acquired a new position in shares of Electromed in the 4th quarter worth approximately $59,000. Quantbot Technologies LP bought a new stake in shares of Electromed in the 4th quarter worth approximately $99,000. Tower Research Capital LLC TRC lifted its stake in Electromed by 426.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,055 shares of the company's stock valued at $149,000 after purchasing an additional 4,095 shares during the last quarter. Finally, Barclays PLC bought a new stake in Electromed during the third quarter worth approximately $215,000. Institutional investors own 40.82% of the company's stock.

Electromed Stock Up 0.1 %

Shares of Electromed stock opened at $23.05 on Friday. The business has a fifty day simple moving average of $24.02 and a 200-day simple moving average of $27.35. The stock has a market cap of $197.24 million, a PE ratio of 30.73 and a beta of 0.59. Electromed, Inc. has a 12 month low of $13.74 and a 12 month high of $35.56.

Electromed announced that its board has initiated a stock repurchase program on Monday, March 10th that authorizes the company to buyback $5.00 million in shares. This buyback authorization authorizes the company to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

ELMD has been the topic of several research reports. B. Riley assumed coverage on Electromed in a report on Thursday, February 20th. They issued a "buy" rating and a $38.00 price target on the stock. StockNews.com upgraded Electromed from a "buy" rating to a "strong-buy" rating in a research report on Wednesday.

Insiders Place Their Bets

In other Electromed news, Director Kathleen Skarvan sold 38,954 shares of Electromed stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $29.28, for a total value of $1,140,573.12. Following the completion of the sale, the director now directly owns 32,622 shares in the company, valued at $955,172.16. The trade was a 54.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew Summers sold 50,751 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 65,714 shares of the company's stock, valued at $1,793,992.20. This represents a 43.58 % decrease in their ownership of the stock. 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 quarter. 14.00% of the stock is currently owned by corporate insiders.

Electromed Company 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.

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