Hillsdale Investment Management Inc. Reduces Stock Holdings in Electromed, Inc. (NYSE:ELMD)

Hillsdale Investment Management Inc. reduced its stake in shares of Electromed, Inc. (NYSE:ELMD) by 13.8% during the fourth quarter, Holdings Channel reports. The firm owned 11,200 shares of the company’s stock after selling 1,800 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Electromed were worth $331,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ELMD. Raymond James Financial Inc. purchased a new position in shares of Electromed during the fourth quarter valued at about $1,760,000. Navellier & Associates Inc. grew its holdings in shares of Electromed by 228.5% during the 4th quarter. Navellier & Associates Inc. now owns 56,368 shares of the company’s stock worth $1,666,000 after acquiring an additional 39,208 shares during the period. Sowell Financial Services LLC bought a new position in shares of Electromed in the 4th quarter worth approximately $1,518,000. Pekin Hardy Strauss Inc. raised its position in shares of Electromed by 9.9% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 38,185 shares of the company’s stock worth $820,000 after acquiring an additional 3,435 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Electromed by 235.8% in the 4th quarter. Bank of New York Mellon Corp now owns 31,615 shares of the company’s stock valued at $934,000 after purchasing an additional 22,200 shares during the period. 40.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ELMD has been the subject of a number of research reports. StockNews.com upgraded Electromed from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 20th. B. Riley started coverage on shares of Electromed in a research note on Thursday, February 20th. They issued a “buy” rating and a $38.00 price target for the company.

Electromed Stock Down 1.1 %

ELMD stock opened at $24.45 on Tuesday. The business has a 50 day moving average of $29.73 and a 200 day moving average of $26.89. The firm has a market cap of $209.22 million, a PE ratio of 32.60 and a beta of 0.41. Electromed, Inc. has a twelve month low of $13.74 and a twelve month high of $35.56.

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

Insider Transactions at Electromed

In other news, Director Kathleen Skarvan sold 38,954 shares of the stock in a transaction that occurred 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 sale, the director now owns 32,622 shares in the company, valued at $955,172.16. This represents a 54.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Andrew Summers sold 50,751 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 65,714 shares of the company’s stock, valued at approximately $1,793,992.20. The trade was a 43.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,618 shares of company stock valued at $3,821,636. Insiders own 14.00% of the company’s 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.