Andrew Summers Sells 50,751 Shares of Electromed, Inc. (NYSE:ELMD) Stock

Electromed, Inc. (NYSE:ELMD) 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 directly owns 65,714 shares of the company’s stock, valued at $1,793,992.20. This trade represents a 43.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, February 20th, Andrew Summers sold 35,273 shares of Electromed stock. The shares were sold at an average price of $28.83, for a total value of $1,016,920.59.
• 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 shares were sold at an average price of $30.09, for a total value of $525,461.67.

Electromed Price Performance

Electromed stock opened at $26.76 on Wednesday. Electromed, Inc. has a 1-year low of $13.74 and a 1-year high of $35.56. The business has a fifty day moving average price of $31.35 and a 200-day moving average price of $25.58. The stock has a market capitalization of $228.99 million, a price-to-earnings ratio of 35.68 and a beta of 0.33.

Wall Street Analysts Forecast Growth

ELMD has been the subject of several analyst reports. 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 target for the company. StockNews.com cut shares of Electromed from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 19th.

Institutional Investors Weigh In On Electromed

Institutional investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership increased its holdings in shares of Electromed by 261.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 114,579 shares of the company’s stock valued at $3,386,000 after acquiring an additional 82,839 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Electromed during the 4th quarter worth approximately $1,760,000. Sowell Financial Services LLC acquired a new position in Electromed during the 4th quarter valued at approximately $1,518,000. Lazard Asset Management LLC raised its holdings in shares of Electromed by 19,860.8% in the fourth quarter. Lazard Asset Management LLC now owns 47,906 shares of the company’s stock worth $1,415,000 after buying an additional 47,666 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in shares of Electromed during the fourth quarter worth $1,255,000. Institutional investors and hedge funds own 40.82% 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.