Electromed (NYSE:ELMD) Downgraded to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of Electromed (NYSE:ELMD) from a strong-buy rating to a hold rating in a report published on Thursday,Zacks.com reports.

Separately, Roth Mkm reissued a “buy” rating and issued a $36.00 price objective (up from $35.00) on shares of Electromed in a research report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Electromed has a consensus rating of “Buy” and an average target price of $36.50.

Electromed Stock Up 4.1%

NYSE ELMD opened at $29.87 on Thursday. Electromed has a 52 week low of $17.73 and a 52 week high of $35.54. The firm has a market capitalization of $249.12 million, a price-to-earnings ratio of 39.83 and a beta of 0.27. The company has a fifty day moving average of $28.36 and a two-hundred day moving average of $24.71.

Institutional Trading of Electromed

A number of large investors have recently modified their holdings of ELMD. Raymond James Financial Inc. increased its holdings in Electromed by 0.9% during the 3rd quarter. Raymond James Financial Inc. now owns 58,838 shares of the company’s stock worth $1,444,000 after purchasing an additional 507 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Electromed by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 190,103 shares of the company’s stock worth $4,667,000 after buying an additional 696 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Electromed by 3.1% during the second quarter. American Century Companies Inc. now owns 32,031 shares of the company’s stock valued at $704,000 after buying an additional 969 shares during the period. Spire Wealth Management increased its stake in shares of Electromed by 22.7% during the second quarter. Spire Wealth Management now owns 5,405 shares of the company’s stock valued at $119,000 after buying an additional 1,000 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Electromed in the second quarter valued at about $32,000. Hedge funds and other institutional investors own 40.82% of the company’s stock.

About Electromed

Electromed Inc (NYSE: ELMD) develops and manufactures sleep therapy products designed to support individuals with breathing disorders such as obstructive sleep apnea. The company’s core business activities include the design, production and distribution of continuous positive airway pressure (CPAP) and bilevel positive airway pressure (BiPAP) accessories. Electromed’s focus on supplying both disposable and reusable components allows durable medical equipment providers to offer comprehensive therapy solutions to patients.

The company’s product portfolio encompasses masks, mask cushions, headgear, tubing, filters and humidification components.