O Shaughnessy Asset Management LLC Makes New Investment in Electromed, Inc. (NYSE:ELMD)

O Shaughnessy Asset Management LLC purchased a new stake in Electromed, Inc. (NYSE:ELMD - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,435 shares of the company's stock, valued at approximately $840,000. O Shaughnessy Asset Management LLC owned about 0.34% of Electromed at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ELMD. IFP Advisors Inc acquired a new position in Electromed in the fourth quarter valued at $59,000. Quantbot Technologies LP purchased a new stake in Electromed during the 4th quarter worth $99,000. Bailard Inc. acquired a new stake in Electromed in the 4th quarter valued at $224,000. Legacy Wealth Asset Management LLC acquired a new position in shares of Electromed during the fourth quarter worth about $253,000. Finally, Barclays PLC purchased a new stake in shares of Electromed during the 3rd quarter valued at about $215,000. Institutional investors and hedge funds own 40.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ELMD. B. Riley started coverage on shares of Electromed in a research report on Thursday, February 20th. They issued a "buy" rating and a $38.00 price objective for the company. StockNews.com lowered shares of Electromed from a "strong-buy" rating to a "buy" rating in a report on Friday, March 28th.

Electromed Price Performance

ELMD traded down $0.06 during trading hours on Friday, hitting $22.53. 40,169 shares of the stock were exchanged, compared to its average volume of 68,281. Electromed, Inc. has a 12 month low of $13.74 and a 12 month high of $35.56. The stock has a 50-day simple moving average of $26.30 and a 200-day simple moving average of $27.26. The stock has a market cap of $192.79 million, a price-to-earnings ratio of 30.04 and a beta of 0.59.

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

Insider Activity at Electromed

In related news, Director Kathleen Skarvan sold 38,954 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 32,622 shares in the company, valued at approximately $955,172.16. This trade represents a 54.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Andrew Summers sold 50,751 shares of the company'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 transaction, the director now directly owns 65,714 shares of the company's stock, valued at $1,793,992.20. This represents a 43.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,618 shares of company stock worth $3,821,636 in the last 90 days. Corporate insiders own 14.00% of the company's stock.

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.