Raymond James Financial Inc. Buys Shares of 59,552 Electromed, Inc. (NYSE:ELMD)

Raymond James Financial Inc. acquired a new position in shares of Electromed, Inc. (NYSE:ELMD - Free Report) during the fourth quarter, according to its most recent 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 approximately 0.70% of Electromed as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ELMD. Russell Investments Group Ltd. acquired a new stake in shares of Electromed during the 4th quarter worth approximately $37,000. IFP Advisors Inc bought a new position in shares of Electromed in the 4th quarter valued at $59,000. Quantbot Technologies LP bought a new stake in shares of Electromed during the 4th quarter worth $99,000. Bailard Inc. bought a new position in Electromed in the fourth quarter valued at about $224,000. Finally, Legacy Wealth Asset Management LLC acquired a new position in Electromed during the 4th quarter worth approximately $253,000. 40.82% of the stock is owned by institutional investors.

Insider Transactions at Electromed

In other news, Director Kathleen Skarvan sold 38,954 shares of the business's 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 transaction, the director now owns 32,622 shares in the company, valued at approximately $955,172.16. The trade was a 54.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 133,618 shares of company stock worth $3,821,636 over the last ninety days. 14.00% of the stock is owned by insiders.

Electromed Trading Down 1.7 %

NYSE:ELMD traded down $0.39 during trading hours on Wednesday, hitting $21.99. 51,397 shares of the company were exchanged, compared to its average volume of 69,079. The stock has a market capitalization of $188.17 million, a price-to-earnings ratio of 29.32 and a beta of 0.46. Electromed, Inc. has a one year low of $13.74 and a one year high of $35.56. The company has a fifty day simple moving average of $23.76 and a 200 day simple moving average of $27.37.

Electromed announced that its Board of Directors has approved a share repurchase plan on Monday, March 10th that permits the company to repurchase $5.00 million in shares. This repurchase authorization permits the company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

ELMD has been the subject of a number of recent research reports. StockNews.com raised Electromed from a "buy" rating to a "strong-buy" rating in a report on Wednesday, April 30th. 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 target price on the stock.

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.