Arrowstreet Capital Limited Partnership Purchases 82,839 Shares of Electromed, Inc. (NYSE:ELMD)

Arrowstreet Capital Limited Partnership grew its holdings in shares of Electromed, Inc. (NYSE:ELMD - Free Report) by 261.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 114,579 shares of the company's stock after purchasing an additional 82,839 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.35% of Electromed worth $3,386,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ELMD. Walleye Capital LLC bought a new position in Electromed in the 3rd quarter worth approximately $274,000. State Street Corp raised its stake in shares of Electromed by 14.5% during the 3rd quarter. State Street Corp now owns 22,066 shares of the company's stock valued at $474,000 after purchasing an additional 2,800 shares during the period. Barclays PLC bought a new stake in shares of Electromed during the 3rd quarter valued at $215,000. Wilmington Savings Fund Society FSB purchased a new stake in Electromed during the 3rd quarter worth about $226,000. Finally, Legacy Wealth Asset Management LLC bought a new position in Electromed in the 4th quarter worth about $253,000. Hedge funds and other institutional investors own 40.82% of the company's stock.

Electromed Stock Performance

Electromed stock traded up $0.26 during mid-day trading on Monday, hitting $22.79. 1,855 shares of the company traded hands, compared to its average volume of 68,243. Electromed, Inc. has a one year low of $13.74 and a one year high of $35.56. The stock has a market cap of $194.97 million, a price-to-earnings ratio of 30.42 and a beta of 0.59. The stock has a fifty day moving average price of $26.30 and a 200-day moving average price of $27.31.

Electromed declared that its board has initiated a stock repurchase 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 generally an indication that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

ELMD has been the subject of several analyst reports. StockNews.com downgraded shares of Electromed from a "strong-buy" rating to a "buy" rating in a report on Friday, March 28th. B. Riley initiated coverage on Electromed in a research report on Thursday, February 20th. They set a "buy" rating and a $38.00 target price for the company.

Insider Transactions at Electromed

In related news, Director Kathleen Skarvan sold 38,954 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $29.28, for a total transaction of $1,140,573.12. Following the transaction, the director now owns 32,622 shares of the company's stock, valued at approximately $955,172.16. This trade represents a 54.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew Summers sold 50,751 shares of Electromed stock in a transaction 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 owns 65,714 shares in the company, valued at approximately $1,793,992.20. The trade was a 43.58 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,618 shares of company stock valued at $3,821,636. Insiders own 14.00% of the company's stock.

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.