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Andrew Summers, a director at Electromed, Inc. (AMEX:NYSE:ELMD), recently sold shares of the company valued at approximately $3.12 million, according to a recent SEC filing. The transactions occurred over several days, with shares sold at prices ranging from $27.297 to $29.806 per share. The sales come as the stock has seen a significant 70% gain over the past six months, though it recently declined about 9% in the past week. According to InvestingPro, analysts maintain a Strong Buy rating with price targets ranging from $36 to $38.
On February 20, Summers sold 15,689 shares at an average price of $28.71 and 1,947 shares at an average price of $29.806. The sales continued with another 15,689 shares at $28.71 and 1,948 shares at $29.806, all executed through Summers Value Fund LP and SVP Deal Fund I LP.
The following day, February 21, Summers sold 11,992 shares at an average price of $28.16 and 734 shares at $28.99. The sales were similarly split between Summers Value Fund LP and SVP Deal Fund I LP.
The largest sale occurred on February 24, when Summers sold 50,751 shares at an average price of $27.297. These transactions reduced his holdings in Electromed, with shares owned through the SVP Deal Fund I LP.
Summers, through his roles as Managing Member of the respective general partners and investment managers, maintains indirect ownership of the shares sold. Discover more insights about ELMD’s performance and potential with InvestingPro, which offers 10+ additional exclusive tips and comprehensive analysis.
In other recent news, Electromed reported its financial results for the second quarter of fiscal year 2025, achieving a record net income of $2 million, or $0.22 per diluted share, surpassing earnings forecasts. The company’s revenue reached $16.3 million, marking an 18.7% year-over-year growth, driven by strong performance in key market segments. B.Riley initiated coverage on Electromed with a Buy rating and set a price target of $38.00, citing the company’s profitability and consistent revenue growth. Electromed has demonstrated significant operating leverage, with a two-year sales compound annual growth rate of 15% year-over-year. The recent accomplishments are attributed to strategic initiatives by the new management team, including product enhancements and increased sales force productivity. Electromed’s earnings per share of $0.22 exceeded the forecast of $0.19, highlighting effective cost management and revenue growth strategies. The company’s gross profit stood at $12.6 million, representing 77.7% of net revenues, with a cash balance of $16.2 million and no debt. Looking ahead, Electromed anticipates double-digit top-line growth and expanded operating leverage.
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