Electromed (NYSE:ELMD) Announces a New Share Buyback Program

Electromed (NYSE:ELMD) recently shared that its Board of Directors has authorized a plan to buy back shares of its stock. This announcement was made on Monday, March 10th, as reported by RTT News. The company has allocated $5.00 million for this buyback initiative. The plan allows Electromed to repurchase up to 2.4% of its total shares available in the open market. Such stock buyback programs often indicate that the board believes the company's shares are currently undervalued.

Analyst Recommendations for Electromed

Electromed has been highlighted in various analyst reports recently. B. Riley initiated coverage on the company, offering a favorable "buy" rating along with a price target of $38.00. However, StockNews.com downgraded Electromed from a "strong-buy" to a "buy" rating in a report dated February 27th.

Electromed's Stock Performance Overview

On Monday, Electromed's shares experienced a decline, dropping $0.73 to reach $24.70. During this trading session, the company recorded a volume of 120,942 shares, surpassing its average volume of 64,680. The stock's 50-day simple moving average is $30.85, while the 200-day average is $26.29. Over the past year, Electromed has experienced a 52-week low of $13.74 and a high of $35.56. Currently, the company's market capitalization stands at approximately $211.36 million, with a P/E ratio of 32.93 and a beta of 0.41.

Recent Insider Transactions

In terms of insider activity, Director Kathleen Skarvan sold 38,954 shares on February 18th. The average sale price was $29.28, leading to a total transaction value of $1,140,573.12. Post-sale, Skarvan holds 32,622 shares valued at around $955,172.16, reflecting a decrease of 54.42% in her ownership. Moreover, Director Andrew Summers sold 35,273 shares on February 20th at an average price of $28.83, totaling $1,016,920.59. After this transaction, he retains 129,190 shares worth approximately $3,724,547.70. In total, insiders have sold 133,618 shares over the last ninety days, making up 14.00% of total insider ownership.

About Electromed

Electromed, Inc. specializes in the development, manufacturing, and marketing of airway clearance therapy products. These innovative products are designed to apply high-frequency chest wall oscillation (HFCWO) therapy to assist pulmonary care for patients across age groups, both in the United States and internationally. Among their offerings is the SmartVest airway clearance system, which helps those with compromised lung functions, including conditions like bronchiectasis and cystic fibrosis, as well as neuromuscular disorders such as cerebral palsy and amyotrophic lateral sclerosis. Other products include the SmartVest SQL System and SmartVest Clearway System, which consists of a therapy garment, an air pulse generator, and a technology for wireless data tracking to support treatment collaboration.

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Is Electromed a Worthwhile Investment?

Before making an investment in Electromed, it’s important to consider current insights. While the company holds a "Strong Buy" rating among some analysts, leading experts have pointed out other stocks that might offer better investment potential.

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