Lazard Asset Management LLC Buys 47,666 Shares of Electromed, Inc. (NYSE:ELMD)

Lazard Asset Management LLC lifted its holdings in Electromed, Inc. (NYSE:ELMD - Free Report) by 19,860.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,906 shares of the company's stock after acquiring an additional 47,666 shares during the period. Lazard Asset Management LLC owned 0.57% of Electromed worth $1,415,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Janus Henderson Group PLC bought a new position in shares of Electromed in the 4th quarter valued at about $896,000. Jefferies Financial Group Inc. bought a new position in shares of Electromed in the 4th quarter valued at about $285,000. Cubist Systematic Strategies LLC bought a new position in shares of Electromed in the 4th quarter valued at about $281,000. Cetera Investment Advisers bought a new position in shares of Electromed in the 4th quarter valued at about $471,000. Finally, Bank of America Corp DE lifted its holdings in shares of Electromed by 179.2% in the 4th quarter. Bank of America Corp DE now owns 4,004 shares of the company's stock valued at $118,000 after acquiring an additional 2,570 shares during the last quarter. Institutional investors own 40.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ELMD shares. B. Riley raised shares of Electromed to a "strong-buy" rating in a report on Thursday, May 15th. Wall Street Zen downgraded shares of Electromed from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 8th.

Insider Transactions at Electromed

In other news, Director Andrew Summers sold 50,751 shares of the firm's stock in a transaction that occurred 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 transaction, the director now directly owns 65,714 shares of the company's stock, valued at approximately $1,793,992.20. This trade represents a 43.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 14.00% of the company's stock.

Electromed Stock Performance

NYSE ELMD traded down $0.70 during trading on Friday, hitting $19.65. The stock had a trading volume of 52,314 shares, compared to its average volume of 72,807. The stock has a market capitalization of $164.78 million, a price-to-earnings ratio of 26.20 and a beta of 0.46. Electromed, Inc. has a one year low of $13.74 and a one year high of $35.56. The stock has a 50 day simple moving average of $22.72 and a 200 day simple moving average of $27.22.

Electromed declared that its Board of Directors has approved a share buyback program on Monday, March 10th that authorizes the company to buyback $5.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its stock is undervalued.

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.