Electromed (ELMD) Announces Share Repurchase Authorization

Electromed, Inc. (“Electromed”) (NYSE American: ELMD), a leader in innovative airway clearance technologies, today announced that effective as of September 11, 2024, its board of directors authorized the repurchase of up to $5.0 million of Electromed common stock. The new authorization follows the exhaustion of Electromed’s previous share repurchase authorization in the fourth quarter of fiscal 2024, as previously reported.

The timing and amount of share repurchases pursuant to the authorization, if any, will be determined by management based on market conditions and other considerations. Repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. Electromed’s board of directors expects to review the share repurchase authorization periodically and may approve changes to its terms and size.

“I am pleased to announce Electromed’s next share repurchase authorization, which follows the recent announcement of our record performance in fiscal 2024, and the successful completion of our previous repurchase authorization during Q4,” said Jim Cunniff, President, and Chief Executive Officer. “Electromed’s revenue growth and profitability profile are driving strong free cash flow, providing us with the flexibility to opportunistically provide incremental value to shareholders while also continuing to invest in the business. This new repurchase authorization reflects the confidence the board and management team have in achieving future growth as well as the belief that our stock has been undervalued after continued delivery of strong financial results. We believe that the repurchase of our common stock has represented an attractive investment opportunity and reinforces our commitment to deliver opportunities for returns to Electromed shareholders.”

You May Also Be Interested In

• onsemi downgraded by TD Cowen after Synaptics deal clouds growth story
• BOSS Zhipin share repurchases top RMB1.99 billion in 2026
• Oman Warned European Allies Ship Fees Likely Needed For Hormuz - Bloomberg