Insider Selling: Electromed, Inc. (NYSE:ELMD) Director Sells 35,273 Shares of Stock

Electromed, Inc. (NYSE:ELMD) Director Andrew Summers sold 35,273 shares of Electromed stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $28.83, for a total transaction of $1,016,920.59. Following the transaction, the director now directly owns 129,190 shares of the company’s stock, valued at $3,724,547.70. This represents a 21.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Andrew Summers also recently made the following trade(s):

• On Monday, February 24th, Andrew Summers sold 50,751 shares of Electromed stock. The stock was sold at an average price of $27.30, for a total transaction of $1,385,502.30.
• On Wednesday, December 4th, Andrew Summers sold 12,731 shares of Electromed stock. The stock was sold at an average price of $29.98, for a total value of $381,675.38.
• On Monday, December 2nd, Andrew Summers sold 17,463 shares of Electromed stock. The stock was sold at an average price of $30.09, for a total transaction of $525,461.67.

Electromed Stock Performance

ELMD traded down $1.00 on Monday, hitting $26.97. 153,045 shares of the company were exchanged, compared to its average volume of 111,293. The stock has a market capitalization of $230.78 million, a PE ratio of 35.96 and a beta of 0.33. Electromed, Inc. has a 12 month low of $13.74 and a 12 month high of $35.56. The firm has a fifty day simple moving average of $31.37 and a two-hundred day simple moving average of $25.49.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Ritholtz Wealth Management purchased a new position in shares of Electromed in the fourth quarter worth $488,000. Barclays PLC bought a new stake in Electromed during the third quarter valued at about $215,000. Navellier & Associates Inc. bought a new stake in Electromed during the third quarter valued at about $368,000. State Street Corp lifted its position 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 acquiring an additional 2,800 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in shares of Electromed in the third quarter valued at about $274,000. Hedge funds and other institutional investors own 40.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on ELMD shares. StockNews.com downgraded Electromed from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 19th. B. Riley started coverage on Electromed in a report on Thursday. They set a “buy” rating and a $38.00 price objective on the stock.

About Electromed

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.