Sowell Financial Services LLC Takes $1.52 Million Position in Electromed, Inc. (NYSE:ELMD)

Sowell Financial Services LLC acquired a new stake in Electromed, Inc. (NYSE:ELMD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 51,386 shares of the company’s stock, valued at approximately $1,518,000. Sowell Financial Services LLC owned 0.61% of Electromed as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in ELMD. Raymond James Financial Inc. purchased a new position in shares of Electromed in the fourth quarter valued at approximately $1,760,000. Navellier & Associates Inc. boosted its stake in shares of Electromed by 228.5% in the fourth quarter. Navellier & Associates Inc. now owns 56,368 shares of the company’s stock valued at $1,666,000 after purchasing an additional 39,208 shares during the period. Ellsworth Advisors LLC purchased a new position in shares of Electromed in the fourth quarter valued at approximately $734,000. Bank of New York Mellon Corp lifted its stake in Electromed by 235.8% in the fourth quarter. Bank of New York Mellon Corp now owns 31,615 shares of the company’s stock worth $934,000 after acquiring an additional 22,200 shares during the last quarter. Finally, Ritholtz Wealth Management purchased a new position in Electromed in the fourth quarter worth approximately $488,000. Hedge funds and other institutional investors own 40.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ELMD. StockNews.com downgraded shares of Electromed from a “strong-buy” rating to a “buy” rating in a research note on Monday. 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 price objective for the company.

Insider Transactions at Electromed

In other news, Director Andrew Summers sold 35,273 shares of Electromed stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $28.83, for a total value 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. The trade was a 21.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of the transaction, the director now directly owns 71,576 shares in the company, valued at $2,308,326. The trade was a 10.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,618 shares of company stock worth $3,821,636. 14.00% of the stock is currently owned by insiders.

Electromed Trading Down 2.9 %

Shares of NYSE:ELMD opened at $24.70 on Tuesday. The company has a market capitalization of $211.36 million, a PE ratio of 32.93 and a beta of 0.41. Electromed, Inc. has a twelve month low of $13.74 and a twelve month high of $35.56. The firm has a 50 day simple moving average of $30.85 and a 200-day simple moving average of $26.29.

Electromed declared that its Board of Directors has approved a share repurchase plan on Monday, March 10th that allows the company to repurchase $5.00 million in outstanding shares. This repurchase authorization allows the company to purchase 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.

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.