OMERS ADMINISTRATION Corp Purchases New Stake in Electromed, Inc. (NYSE:ELMD)

OMERS ADMINISTRATION Corp purchased a new position in shares of Electromed, Inc. (NYSE:ELMD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,900 shares of the company's stock, valued at approximately $736,000. OMERS ADMINISTRATION Corp owned about 0.29% of Electromed as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of ELMD. Barclays PLC purchased a new stake in shares of Electromed during the 3rd quarter valued at $215,000. Legacy Wealth Asset Management LLC purchased a new stake in Electromed during the fourth quarter valued at about $253,000. Ritholtz Wealth Management acquired a new stake in Electromed during the fourth quarter worth about $488,000. Ellsworth Advisors LLC acquired a new stake in Electromed during the fourth quarter worth about $734,000. Finally, Navellier & Associates Inc. raised its holdings in shares of Electromed by 228.5% in the 4th quarter. Navellier & Associates Inc. now owns 56,368 shares of the company's stock worth $1,666,000 after purchasing an additional 39,208 shares during the period. Hedge funds and other institutional investors own 40.82% of the company's stock.

Electromed Stock Performance

Electromed stock traded down $1.35 during trading on Wednesday, reaching $20.87. 44,194 shares of the company's stock were exchanged, compared to its average volume of 72,019. Electromed, Inc. has a 52-week low of $13.74 and a 52-week high of $35.56. The firm has a market cap of $175.02 million, a price-to-earnings ratio of 27.83 and a beta of 0.46. The company's 50-day moving average is $22.99 and its two-hundred day moving average is $27.28.

Electromed announced that its board has initiated a stock repurchase program on Monday, March 10th that allows the company to buyback $5.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ELMD. B. Riley upgraded Electromed to a "strong-buy" rating in a report on Thursday, May 15th. StockNews.com cut shares of Electromed from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 8th.

Insiders Place Their Bets

In related news, Director Andrew Summers sold 50,751 shares of Electromed stock in a transaction on Monday, February 24th. The shares were sold at an average price of $27.30, for a total transaction of $1,385,502.30. Following the sale, the director now owns 65,714 shares of the company's stock, valued at $1,793,992.20. The trade was a 43.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 14.00% of the stock is currently owned by insiders.

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.