Electromed, Inc. (NYSE:ELMD) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its stake in Electromed, Inc. (NYSE:ELMD) by 4.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 118,333 shares of the company’s stock after selling 5,071 shares during the quarter. Renaissance Technologies LLC owned 1.40% of Electromed worth $3,497,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Aristides Capital LLC lifted its position in shares of Electromed by 4.7% during the fourth quarter. Aristides Capital LLC now owns 26,076 shares of the company’s stock worth $771,000 after purchasing an additional 1,159 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Electromed during the 4th quarter worth approximately $37,000. IFP Advisors Inc purchased a new position in Electromed in the 4th quarter valued at approximately $59,000. State Street Corp grew its stake in shares of Electromed by 14.5% in the third quarter. State Street Corp now owns 22,066 shares of the company’s stock worth $474,000 after acquiring an additional 2,800 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Electromed during the fourth quarter worth $99,000. Hedge funds and other institutional investors own 40.82% of the company’s stock.

Insider Transactions at Electromed

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

Analysts Set New Price Targets

A number of research firms recently issued reports on ELMD. B. Riley began coverage on Electromed in a report on Thursday, February 20th. They issued a “buy” rating and a $38.00 target price for the company. StockNews.com cut Electromed from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 28th.

Electromed Stock Up 1.6 %

Shares of Electromed stock opened at $22.99 on Wednesday. Electromed, Inc. has a 52-week low of $13.74 and a 52-week high of $35.56. The company has a 50 day moving average of $24.93 and a 200 day moving average of $27.34. The company has a market capitalization of $196.73 million, a P/E ratio of 30.65 and a beta of 0.59.

Electromed announced that its Board of Directors has approved a stock buyback program on Monday, March 10th that authorizes the company to buyback $5.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are 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.