Electromed (NYSE:ELMD) Shares Down 0.2% – What’s Next?

Electromed, Inc. (NYSE:ELMD) shares were down 0.2% during mid-day trading on Tuesday . The company traded as low as $24.47 and last traded at $24.78. Approximately 28,302 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 81,054 shares. The stock had previously closed at $24.83.

Analysts Set New Price Targets

ELMD has been the topic of several recent research reports. Loop Capital set a $36.00 target price on shares of Electromed in a research note on Wednesday, August 27th. Zacks Research upgraded shares of Electromed from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Lake Street Capital started coverage on Electromed in a research note on Wednesday, August 27th. They issued a “buy” rating and a $36.00 target price on the stock. Finally, Roth Capital lifted their target price on shares of Electromed from $29.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, August 27th. Two research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Strong Buy” and an average target price of $36.25.

Electromed Stock Down 0.2%

The firm has a market capitalization of $207.56 million, a price-to-earnings ratio of 33.04 and a beta of 0.47. The stock has a 50 day moving average of $23.59 and a 200 day moving average of $21.76.

Insider Buying and Selling

In other news, Director Andrew Summers sold 62,561 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $24.32, for a total transaction of $1,521,483.52. Following the completion of the transaction, the director directly owned 3,153 shares of the company’s stock, valued at approximately $76,680.96. This represents a 95.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Electromed in the 2nd quarter worth about $32,000. Financial Consulate Inc. acquired a new stake in shares of Electromed in the third quarter valued at approximately $37,000. State of Wyoming acquired a new position in shares of Electromed during the first quarter worth approximately $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Electromed during the second quarter worth approximately $83,000. Finally, New York State Common Retirement Fund acquired a new stake in Electromed in the 2nd quarter valued at approximately $103,000. 40.82% of the stock is currently owned by institutional investors.

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.