Point72 Asia Singapore Pte. Ltd. Acquires Shares of 4,031 Electromed, Inc. (NYSE:ELMD)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Electromed, Inc. (NYSE:ELMD) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,031 shares of the company’s stock, valued at approximately $119,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new position in shares of Electromed during the 4th quarter valued at approximately $37,000. IFP Advisors Inc acquired a new position in shares of Electromed during the fourth quarter valued at $59,000. Quantbot Technologies LP acquired a new position in shares of Electromed during the fourth quarter valued at $99,000. Bank of America Corp DE increased its holdings in shares of Electromed by 179.2% during the fourth quarter. Bank of America Corp DE now owns 4,004 shares of the company’s stock valued at $118,000 after purchasing an additional 2,570 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in Electromed by 426.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,055 shares of the company’s stock worth $149,000 after acquiring an additional 4,095 shares during the period. 40.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Electromed

In other news, Director Andrew Summers sold 50,751 shares of the company’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 completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Skarvan sold 38,954 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $29.28, for a total value of $1,140,573.12. Following the sale, the director now owns 32,622 shares of the company’s stock, valued at approximately $955,172.16. This trade represents a 54.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 124,978 shares of company stock worth $3,542,996 over the last 90 days. 14.00% of the stock is currently owned by corporate insiders.

Electromed Price Performance

Shares of NYSE ELMD opened at $21.55 on Friday. The business’s 50-day moving average price is $23.10 and its two-hundred day moving average price is $27.29. Electromed, Inc. has a one year low of $13.74 and a one year high of $35.56. The company has a market capitalization of $180.72 million, a P/E ratio of 28.73 and a beta of 0.46.

Electromed declared that its board has authorized a stock repurchase program on Monday, March 10th that allows the company to buyback $5.00 million in shares. This buyback authorization allows the company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

ELMD has been the topic of a number of research analyst reports. B. Riley raised Electromed to a “strong-buy” rating in a report on Thursday. StockNews.com downgraded Electromed from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 8th.

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.