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NEW PRAGUE, Minn. - Electromed, Inc. (NYSE American: ELMD), known for its airway clearance technologies, announced Monday that its board of directors has approved a new stock repurchase program. The company is authorized to buy back up to $5 million of its common stock. The announcement comes as the company maintains strong financial health, with a current ratio of 5.1 and minimal debt levels, according to InvestingPro data.
The repurchase plan, which was authorized on March 6, 2025, does not obligate Electromed to acquire any specific number of shares. According to the company, the timing and volume of repurchases will be subject to management’s discretion, market conditions, and applicable legal requirements. Electromed may conduct these repurchases on the open market, in privately negotiated transactions, or in block trades, among other permissible methods.
Jim Cunniff, President and CEO of Electromed, expressed that this new authorization reflects the company’s confidence in the business and its ongoing commitment to enhancing shareholder value. Cunniff highlighted the strategy of using excess cash reserves for stock repurchases as a means to return capital to shareholders while preserving the company’s strong financial position and ability to invest in future growth. The confidence appears well-founded, with InvestingPro data showing revenue growth of 15.35% and an impressive gross margin of 76.81% in the last twelve months. Get access to 8 more exclusive InvestingPro Tips and comprehensive financial analysis for smarter investment decisions.
Electromed, which was established in 1992 and is based in New Prague, Minnesota, specializes in manufacturing and selling the SmartVest® Airway Clearance System, aimed at helping patients with impaired pulmonary function.
This press release contains forward-looking statements regarding the potential future repurchases and the anticipated benefits of the repurchase program, as well as Electromed’s financial health. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected.
Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of the press release. Electromed does not undertake any obligation to update these statements in light of new information or future events. The information presented in this article is based on a press release statement from Electromed, Inc.
In other recent news, Electromed reported its financial results for the second quarter of fiscal year 2025, highlighting a record net income of $2 million, or $0.22 per diluted share, which exceeded earnings forecasts. The company’s revenue reached $16.3 million, marking an 18.7% year-over-year growth, surpassing analyst expectations of $15.3 million. This strong performance was driven by the company’s focus on its SmartVest Clearway technology and enhancements in its sales infrastructure. B. Riley initiated coverage on Electromed with a Buy rating and a price target of $38, citing the company’s consistent revenue growth and profitability. The firm also expressed confidence in Electromed’s strategic direction, projecting $1.00 per share in earnings by fiscal year 2026 and anticipating a 20% operating margin over time. Electromed’s management attributes recent accomplishments to strategic initiatives, including product enhancements and streamlined operations. The company continues to focus on expanding its sales team and improving operational efficiencies to sustain its growth trajectory.
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