Cetera Investment Advisers Makes New $471,000 Investment in Electromed, Inc. (NYSE:ELMD)

Cetera Investment Advisers bought a new position in shares of Electromed, Inc. (NYSE:ELMD - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,947 shares of the company's stock, valued at approximately $471,000. Cetera Investment Advisers owned approximately 0.19% of Electromed as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. IFP Advisors Inc acquired a new stake in Electromed in the fourth quarter worth $59,000. Jane Street Group LLC acquired a new position in Electromed during the fourth quarter worth about $703,000. Northern Trust Corp boosted its position in shares of Electromed by 14.1% in the 4th quarter. Northern Trust Corp now owns 65,350 shares of the company's stock valued at $1,931,000 after purchasing an additional 8,086 shares during the period. American Century Companies Inc. acquired a new position in shares of Electromed in the 4th quarter valued at $693,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Electromed by 235.8% in the 4th quarter. Bank of New York Mellon Corp now owns 31,615 shares of the company's stock valued at $934,000 after purchasing an additional 22,200 shares during the period. Institutional investors and hedge funds own 40.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wall Street Zen lowered Electromed from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 8th. B. Riley upgraded Electromed to a "strong-buy" rating in a research report on Thursday, May 15th.

Electromed Stock Down 1.0%

NYSE ELMD traded down $0.21 during trading on Friday, hitting $20.20. The company's stock had a trading volume of 36,949 shares, compared to its average volume of 72,732. The firm has a 50 day moving average price of $22.29 and a 200 day moving average price of $27.00. The firm has a market cap of $169.40 million, a P/E ratio of 26.93 and a beta of 0.46. Electromed, Inc. has a 52 week low of $13.74 and a 52 week high of $35.56.

Electromed declared that its Board of Directors has authorized a share buyback program on Monday, March 10th that permits the company to buyback $5.00 million in outstanding shares. This buyback authorization permits the company to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Electromed 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.