Schonfeld Strategic Advisors LLC Purchases New Position in Electromed, Inc. (NYSE:ELMD)

Schonfeld Strategic Advisors LLC bought a new stake in Electromed, Inc. (NYSE:ELMD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 25,996 shares of the company's stock, valued at approximately $768,000. Schonfeld Strategic Advisors LLC owned approximately 0.30% of Electromed as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Russell Investments Group Ltd. acquired a new position in Electromed during the 4th quarter worth about $37,000. IFP Advisors Inc bought a new position in shares of Electromed in the fourth quarter worth about $59,000. Quantbot Technologies LP acquired a new position in shares of Electromed during the fourth quarter worth approximately $99,000. Tower Research Capital LLC TRC grew its stake in shares of 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, Bailard Inc. acquired a new stake in shares of Electromed in the fourth quarter valued at approximately $224,000. Institutional investors own 40.82% of the company's stock.

Electromed Stock Performance

NYSE:ELMD traded down $3.19 on Wednesday, reaching $19.64. The company's stock had a trading volume of 91,812 shares, compared to its average volume of 85,437. Electromed, Inc. has a 1-year low of $13.74 and a 1-year high of $35.56. The firm has a market cap of $168.06 million, a PE ratio of 26.19 and a beta of 0.46. The business's 50-day moving average price is $23.44 and its two-hundred day moving average price is $27.38.

Electromed announced that its board has initiated a share buyback plan on Monday, March 10th that allows the company to repurchase $5.00 million in shares. This repurchase authorization allows the company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Andrew Summers sold 50,751 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $27.30, for a total value of $1,385,502.30. Following the completion of the sale, the director now owns 65,714 shares of the company's stock, valued at approximately $1,793,992.20. This represents a 43.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 of the company's stock, valued at approximately $955,172.16. This represents a 54.42% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 133,618 shares of company stock valued at $3,821,636. 14.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ELMD has been the topic of several recent research reports. B. Riley started 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 cut Electromed from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 8th.

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.