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

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

Separately, B. Riley began coverage on Electromed in a research note on Thursday, February 20th. They set a “buy” rating and a $38.00 price target on the stock.

Electromed Stock Performance

NYSE:ELMD opened at $26.83 on Thursday. The firm’s 50-day moving average is $31.36 and its 200-day moving average is $25.59. The company has a market cap of $229.58 million, a price-to-earnings ratio of 35.77 and a beta of 0.33. Electromed has a 52-week low of $13.74 and a 52-week high of $35.56.

Insider Buying and Selling

In other news, Director Andrew Summers sold 50,751 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $27.30, for a total value of $1,385,502.30. Following the completion of the transaction, the director now owns 65,714 shares in the company, valued at approximately $1,793,992.20. This represents a 43.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kathleen Skarvan sold 38,954 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $29.28, for a total transaction of $1,140,573.12. Following the transaction, the director now directly owns 32,622 shares of the company’s stock, valued at $955,172.16. The trade was 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 ninety days. 14.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Electromed

Several large investors have recently modified their holdings of ELMD. Russell Investments Group Ltd. bought a new position in shares of Electromed during the 4th quarter worth approximately $37,000. IFP Advisors Inc bought a new stake in Electromed in the fourth quarter valued at $59,000. Quantbot Technologies LP acquired a new position in Electromed during the fourth quarter worth $99,000. Bank of America Corp DE lifted its holdings in shares of Electromed by 179.2% during the fourth quarter. Bank of America Corp DE now owns 4,004 shares of the company’s stock valued at $118,000 after acquiring an additional 2,570 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Electromed in the 4th quarter valued at $119,000. 40.82% of the stock is currently owned by institutional investors.

Electromed Company Profile

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.