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

Schonfeld Strategic Advisors LLC purchased a new position in Electromed, Inc. (NYSE:ELMD) during the fourth quarter, HoldingsChannel reports. The firm purchased 25,996 shares of the company’s stock, valued at approximately $768,000.

Other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new position in shares of Electromed in the fourth quarter worth approximately $37,000. IFP Advisors Inc purchased a new position in Electromed in the 4th quarter worth approximately $59,000. Quantbot Technologies LP bought a new position in Electromed in the 4th quarter valued at approximately $99,000. Tower Research Capital LLC TRC boosted its stake in Electromed by 426.6% during the 4th 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. bought a new stake in shares of Electromed in the 4th quarter worth $224,000. 40.82% of the stock is owned by hedge funds and other institutional investors.

Electromed Trading Up 1.1 %

NYSE:ELMD opened at $22.23 on Friday. The company has a market cap of $190.22 million, a PE ratio of 29.64 and a beta of 0.46. Electromed, Inc. has a 12 month low of $13.74 and a 12 month high of $35.56. The company has a 50 day simple moving average of $23.66 and a two-hundred day simple moving average of $27.34.

Electromed announced that its board has initiated a stock buyback plan on Monday, March 10th that authorizes the company to buyback $5.00 million in shares. This buyback authorization authorizes the company to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

ELMD has been the topic of a number of research analyst reports. B. Riley initiated coverage on Electromed in a report on Thursday, February 20th. They set a “buy” rating and a $38.00 price target on the stock. StockNews.com cut shares of Electromed from a “strong-buy” rating to a “buy” rating in a research note on Thursday.

Insider Activity at Electromed

In other news, Director Kathleen Skarvan sold 8,640 shares of Electromed stock in a transaction on Friday, February 14th. The shares were sold at an average price of $32.25, for a total transaction of $278,640.00. Following the transaction, the director now owns 71,576 shares in the company, valued at $2,308,326. This trade represents a 10.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Andrew Summers sold 50,751 shares of the company’s stock in a transaction 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 $1,793,992.20. This trade 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 sold 133,618 shares of company stock worth $3,821,636. 14.00% of the stock is owned by insiders.

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.