Electromed (NYSE:ELMD) Cut to Buy at StockNews.com

StockNews.com lowered shares of Electromed (NYSE:ELMD) from a strong-buy rating to a buy rating in a report issued on Thursday.

Separately, B. Riley began coverage on shares of Electromed in a report on Thursday, February 20th. They issued a “buy” rating and a $38.00 price objective for the company.

Electromed Price Performance

Shares of NYSE:ELMD opened at $27.04 on Thursday. The business’s 50 day moving average price is $31.33 and its 200-day moving average price is $25.69. Electromed has a 1 year low of $13.74 and a 1 year high of $35.56. The firm has a market capitalization of $231.38 million, a price-to-earnings ratio of 36.05 and a beta of 0.33.

Insiders Place Their Bets

In related news, Director Andrew Summers sold 50,751 shares of the business’s stock in a transaction on 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathleen Skarvan sold 38,954 shares of the firm’s stock in a transaction dated 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 owns 32,622 shares of the company’s stock, valued at $955,172.16. This trade represents a 54.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 163,812 shares of company stock valued at $4,728,773 over the last 90 days. 14.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Electromed

Large investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership grew its position in shares of Electromed by 261.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 114,579 shares of the company’s stock worth $3,386,000 after buying an additional 82,839 shares in the last quarter. Northern Trust Corp grew its stake in shares of Electromed by 14.1% during the fourth quarter. Northern Trust Corp now owns 65,350 shares of the company’s stock worth $1,931,000 after purchasing an additional 8,086 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Electromed in the fourth quarter valued at $1,760,000. Susquehanna International Group LLP raised its stake in Electromed by 121.8% in the fourth quarter. Susquehanna International Group LLP now owns 56,726 shares of the company’s stock valued at $1,676,000 after buying an additional 31,148 shares in the last quarter. Finally, Navellier & Associates Inc. lifted its holdings in Electromed by 228.5% during the 4th quarter. Navellier & Associates Inc. now owns 56,368 shares of the company’s stock worth $1,666,000 after buying an additional 39,208 shares during the last quarter. Hedge funds and other institutional investors own 40.82% 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.