Ameriprise Financial Inc. Buys 13,861 Shares of Electromed, Inc. (NYSE:ELMD)

Ameriprise Financial Inc. boosted its holdings in Electromed, Inc. (NYSE:ELMD - Free Report) by 49.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,072 shares of the company's stock after purchasing an additional 13,861 shares during the quarter. Ameriprise Financial Inc. owned about 0.50% of Electromed worth $1,243,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership raised its holdings in shares of Electromed by 261.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 114,579 shares of the company's stock valued at $3,386,000 after purchasing an additional 82,839 shares during the period. Raymond James Financial Inc. bought a new stake in Electromed in the 4th quarter valued at about $1,760,000. Sowell Financial Services LLC acquired a new position in Electromed during the 4th quarter worth approximately $1,518,000. Navellier & Associates Inc. boosted its holdings in Electromed by 228.5% in the fourth quarter. Navellier & Associates Inc. now owns 56,368 shares of the company's stock worth $1,666,000 after acquiring an additional 39,208 shares in the last quarter. Finally, Susquehanna International Group LLP grew its stake in Electromed by 121.8% in the fourth quarter. Susquehanna International Group LLP now owns 56,726 shares of the company's stock valued at $1,676,000 after acquiring an additional 31,148 shares during the period. 40.82% of the stock is currently owned by institutional investors.

Electromed Trading Down 0.1%

Electromed stock traded down $0.02 during trading on Wednesday, hitting $20.46. 4,055 shares of the company were exchanged, compared to its average volume of 85,089. The company has a market capitalization of $171.58 million, a P/E ratio of 27.28 and a beta of 0.46. The business's 50 day moving average is $22.16 and its 200 day moving average is $26.90. Electromed, Inc. has a 52 week low of $13.74 and a 52 week high of $35.56.

Electromed announced that its Board of Directors has approved a share buyback 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 usually a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. B. Riley raised shares of Electromed to a "strong-buy" rating in a research report on Thursday, May 15th. Wall Street Zen downgraded shares of Electromed from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 8th.

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.