683 Capital Management LLC Takes $737,000 Position in Electromed, Inc. (NYSE:ELMD)

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ELMD. Ritholtz Wealth Management purchased a new position in Electromed during the fourth quarter valued at $488,000. Barclays PLC acquired a new position in Electromed during the third quarter worth $215,000. State Street Corp grew its holdings in shares of Electromed by 14.5% in the third quarter. State Street Corp now owns 22,066 shares of the company's stock valued at $474,000 after purchasing an additional 2,800 shares during the period. IFP Advisors Inc acquired a new stake in shares of Electromed during the 4th quarter worth approximately $59,000. Finally, Bank of New York Mellon Corp raised its position in Electromed by 235.8% in the fourth quarter. Bank of New York Mellon Corp now owns 31,615 shares of the company's stock valued at $934,000 after purchasing an additional 22,200 shares during the period. Hedge funds and other institutional investors own 40.82% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. B. Riley assumed 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 upgraded shares of Electromed from a "buy" rating to a "strong-buy" rating in a report on Wednesday, April 30th.

Electromed Price Performance

Shares of Electromed stock traded up $0.16 during trading hours on Wednesday, hitting $22.54. The company had a trading volume of 21,681 shares, compared to its average volume of 68,824. The company's 50-day moving average is $23.76 and its two-hundred day moving average is $27.37. The company has a market cap of $192.87 million, a P/E ratio of 30.05 and a beta of 0.46. Electromed, Inc. has a twelve month low of $13.74 and a twelve month high of $35.56.

Electromed declared that its Board of Directors has authorized a stock repurchase plan on Monday, March 10th that authorizes the company to repurchase $5.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Kathleen Skarvan sold 38,954 shares of the stock in a transaction on 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 sale, the director now owns 32,622 shares in the company, valued at $955,172.16. This represents a 54.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew Summers sold 50,751 shares of Electromed stock in a transaction on Monday, February 24th. The shares were sold at an average price of $27.30, for a total transaction of $1,385,502.30. Following the completion of the transaction, the director now owns 65,714 shares in the company, valued at approximately $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. Over the last 90 days, insiders have sold 133,618 shares of company stock valued at $3,821,636. 14.00% of the stock is currently owned by insiders.

Electromed 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.