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

Hillsdale Investment Management Inc. lowered its position in shares of Electromed, Inc. (NYSE:ELMD) by 13.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,200 shares of the company’s stock after selling 1,800 shares during the period. Hillsdale Investment Management Inc. owned 0.13% of Electromed worth $331,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. IFP Advisors Inc bought a new position in Electromed in the 4th quarter valued at $59,000. State Street Corp boosted its stake in Electromed by 14.5% during the third quarter. State Street Corp now owns 22,066 shares of the company’s stock valued at $474,000 after buying an additional 2,800 shares during the period. Quantbot Technologies LP purchased a new position in Electromed during the fourth quarter worth about $99,000. Pekin Hardy Strauss Inc. increased its stake in 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 during the last quarter. Finally, Bailard Inc. bought a new position in Electromed in the 4th quarter worth about $224,000. Institutional investors own 40.82% of the company’s stock.

Electromed Trading Down 1.1 %

ELMD opened at $24.45 on Tuesday. The stock has a market capitalization of $209.22 million, a P/E ratio of 32.60 and a beta of 0.41. The stock has a 50-day moving average price of $29.73 and a 200-day moving average price of $26.89. Electromed, Inc. has a 12-month low of $13.74 and a 12-month high of $35.56.

Electromed declared that its Board of Directors has initiated a stock repurchase program on Monday, March 10th that permits the company to repurchase $5.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Electromed news, Director Andrew Summers sold 50,751 shares of the business’s stock in a transaction on Monday, February 24th. The shares were 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 directly owns 65,714 shares of the company’s stock, valued at $1,793,992.20. The trade was a 43.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kathleen Skarvan sold 38,954 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $29.28, for a total value of $1,140,573.12. Following the transaction, the director now directly owns 32,622 shares in the company, valued at $955,172.16. This trade represents a 54.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 133,618 shares of company stock worth $3,821,636 in the last quarter. 14.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ELMD has been the subject of several recent analyst reports. StockNews.com raised Electromed from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 20th. B. Riley assumed coverage on shares of Electromed in a report on Thursday, February 20th. They issued a “buy” rating and a $38.00 price target on the 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.