OMERS ADMINISTRATION Corp Makes New $736,000 Investment in Electromed, Inc. (NYSE:ELMD)

OMERS ADMINISTRATION Corp purchased a new position in shares of Electromed, Inc. (NYSE:ELMD) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 24,900 shares of the company’s stock, valued at approximately $736,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ELMD. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Electromed by 261.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 114,579 shares of the company’s stock valued at $3,386,000 after acquiring an additional 82,839 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Electromed during the 4th quarter valued at $1,760,000. Sowell Financial Services LLC acquired a new position in shares of Electromed during the 4th quarter valued at $1,518,000. Lazard Asset Management LLC lifted its holdings in shares of Electromed by 19,860.8% during the 4th quarter. Lazard Asset Management LLC now owns 47,906 shares of the company’s stock valued at $1,415,000 after acquiring an additional 47,666 shares in the last quarter. Finally, Navellier & Associates Inc. lifted its holdings in shares of Electromed by 228.5% during the 4th quarter. Navellier & Associates Inc. now owns 56,368 shares of the company’s stock valued at $1,666,000 after acquiring an additional 39,208 shares in the last quarter. Institutional investors and hedge funds own 40.82% of the company’s stock.

Insider Transactions at Electromed

In related news, Director Kathleen Skarvan sold 38,954 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $29.28, for a total transaction of $1,140,573.12. Following the completion of the sale, the director now owns 32,622 shares of the company’s stock, valued at $955,172.16. This represents a 54.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew Summers sold 50,751 shares of the business’s stock in a transaction dated 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 directly owns 65,714 shares of the company’s stock, valued at approximately $1,793,992.20. This represents a 43.58% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 124,978 shares of company stock valued at $3,542,996. Insiders own 14.00% of the company’s stock.

Electromed Price Performance

Shares of ELMD stock opened at $21.55 on Friday. Electromed, Inc. has a 12 month low of $13.74 and a 12 month high of $35.56. The firm has a market capitalization of $180.72 million, a P/E ratio of 28.73 and a beta of 0.46. The company’s fifty day moving average price is $23.10 and its two-hundred day moving average price is $27.29.

Electromed declared that its board has approved a stock repurchase program on Monday, March 10th that permits the company to repurchase $5.00 million in shares. This repurchase authorization permits the company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

ELMD has been the topic of a number of recent analyst reports. B. Riley upgraded shares of Electromed to a “strong-buy” rating in a report on Thursday. StockNews.com lowered shares of Electromed from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 8th.

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.