American Century Companies Inc. Purchases Shares of 23,438 Electromed, Inc. (NYSE:ELMD)

American Century Companies Inc. purchased a new position in Electromed, Inc. (NYSE:ELMD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 23,438 shares of the company's stock, valued at approximately $693,000. American Century Companies Inc. owned 0.28% of Electromed at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. IFP Advisors Inc acquired a new position in shares of Electromed in the fourth quarter worth $59,000. State Street Corp boosted its position in Electromed by 14.5% during the third quarter. State Street Corp now owns 22,066 shares of the company's stock worth $474,000 after acquiring an additional 2,800 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Electromed in the 4th quarter worth approximately $99,000. Bailard Inc. acquired a new position in Electromed in the 4th quarter valued at $224,000. Finally, Legacy Wealth Asset Management LLC purchased a new position in shares of Electromed during the 4th quarter worth $253,000. 40.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ELMD. B. Riley initiated coverage on Electromed in a research note on Thursday, February 20th. They issued a "buy" rating and a $38.00 price target on the stock. StockNews.com downgraded shares of Electromed from a "strong-buy" rating to a "buy" rating in a report on Friday, March 28th.

Electromed Stock Performance

Shares of NYSE:ELMD traded up $0.06 during trading on Thursday, reaching $22.73. 5,357 shares of the stock were exchanged, compared to its average volume of 68,166. The firm has a market cap of $194.48 million, a price-to-earnings ratio of 30.32 and a beta of 0.59. Electromed, Inc. has a 12-month low of $13.74 and a 12-month high of $35.56. The firm's 50-day moving average price is $25.62 and its 200 day moving average price is $27.27.

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

Insider Buying and Selling at Electromed

In related news, Director Andrew Summers sold 50,751 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $27.30, for a total value of $1,385,502.30. Following the transaction, the director now owns 65,714 shares in the company, valued at approximately $1,793,992.20. The trade was a 43.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathleen Skarvan sold 38,954 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $29.28, for a total value of $1,140,573.12. Following the sale, the director now owns 32,622 shares of the company's stock, valued at approximately $955,172.16. This trade represents a 54.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,618 shares of company stock valued at $3,821,636 over the last three months. 14.00% of the stock is owned by company insiders.

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.