Gamco Investors INC. ET AL Decreases Position in Electromed, Inc. (NYSE:ELMD)

Gamco Investors INC. ET AL decreased its stake in Electromed, Inc. (NYSE:ELMD) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 134,000 shares of the company’s stock after selling 1,000 shares during the quarter. Gamco Investors INC. ET AL owned about 1.58% of Electromed worth $3,960,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ELMD. Russell Investments Group Ltd. purchased a new position in Electromed during the fourth quarter worth $37,000. IFP Advisors Inc bought a new stake in shares of Electromed in the 4th quarter worth about $59,000. Quantbot Technologies LP bought a new stake in shares of Electromed in the 4th quarter worth about $99,000. Barclays PLC purchased a new position in shares of Electromed during the 3rd quarter worth about $215,000. Finally, Bailard Inc. bought a new position in Electromed during the 4th quarter valued at about $224,000. Institutional investors own 40.82% of the company’s stock.

Electromed Trading Up 0.5 %

NYSE ELMD opened at $22.79 on Friday. The stock has a market cap of $195.01 million, a PE ratio of 30.39 and a beta of 0.59. Electromed, Inc. has a 12 month low of $13.74 and a 12 month high of $35.56. The company’s 50-day moving average price is $25.48 and its 200-day moving average price is $27.28.

Electromed announced that its Board of Directors has authorized a stock repurchase 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 shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Electromed news, Director Andrew Summers sold 50,751 shares of the company’s stock in a transaction on Monday, February 24th. The stock was 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 in the company, valued at approximately $1,793,992.20. This represents a 43.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathleen Skarvan sold 8,640 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $32.25, for a total value of $278,640.00. Following 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 position. The disclosure for this sale can be found here. Insiders have sold 133,618 shares of company stock worth $3,821,636 in the last three months. Corporate insiders own 14.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. StockNews.com downgraded shares of Electromed from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 28th. B. Riley began coverage on Electromed in a research note on Thursday, February 20th. They set a “buy” rating and a $38.00 price target for the company.

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.