Electromed, Inc. (NYSE:ELMD) Shares Bought by Millennium Management LLC

Millennium Management LLC boosted its position in shares of Electromed, Inc. (NYSE:ELMD - Free Report) by 171.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,039 shares of the company's stock after purchasing an additional 26,571 shares during the quarter. Millennium Management LLC owned approximately 0.50% of Electromed worth $1,242,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in Electromed during the fourth quarter worth $37,000. IFP Advisors Inc purchased a new stake in Electromed during the fourth quarter worth $59,000. Quantbot Technologies LP purchased a new stake in Electromed during the fourth quarter worth $99,000. Bank of America Corp DE boosted its position in Electromed by 179.2% during the fourth quarter. Bank of America Corp DE now owns 4,004 shares of the company's stock worth $118,000 after purchasing an additional 2,570 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Electromed by 426.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,055 shares of the company's stock worth $149,000 after purchasing an additional 4,095 shares in the last quarter. 40.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Wall Street Zen downgraded 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 Trading Up 0.8%

Shares of NYSE:ELMD traded up $0.17 on Friday, hitting $20.95. The company had a trading volume of 49,762 shares, compared to its average volume of 72,999. Electromed, Inc. has a 52-week low of $13.74 and a 52-week high of $35.56. The business has a 50 day moving average of $21.97 and a 200 day moving average of $26.72. The company has a market cap of $175.69 million, a PE ratio of 27.93 and a beta of 0.40.

Electromed declared that its board has approved a stock buyback plan on Monday, March 10th that allows the company to repurchase $5.00 million in shares. This repurchase authorization allows the company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.

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.