Electromed (NYSE:ELMD) Cut 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 initiated coverage on Electromed in a research report on Thursday, February 20th. They issued a “buy” rating and a $38.00 price target for the company.

Electromed Price Performance

ELMD opened at $27.04 on Thursday. Electromed has a 1-year low of $13.74 and a 1-year high of $35.56. The stock has a market cap of $231.38 million, a P/E ratio of 36.05 and a beta of 0.33. The stock’s 50 day simple moving average is $31.33 and its 200 day simple moving average is $25.69.

Insiders Place Their Bets

In related news, Director Kathleen Skarvan sold 38,954 shares of Electromed 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 completion of the sale, the director now owns 32,622 shares in the company, valued at approximately $955,172.16. This trade represents a 54.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andrew Summers sold 50,751 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $27.30, for a total transaction of $1,385,502.30. Following the completion of the transaction, the director now directly owns 65,714 shares of the company’s stock, valued at $1,793,992.20. The trade was a 43.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 163,812 shares of company stock worth $4,728,773. Insiders own 14.00% of the company’s stock.

Institutional Investors Weigh In On Electromed

Hedge funds and other institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership boosted its position in 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 acquiring an additional 82,839 shares during the last quarter. Northern Trust Corp raised its holdings in Electromed by 14.1% in the 4th quarter. Northern Trust Corp now owns 65,350 shares of the company’s stock valued at $1,931,000 after acquiring an additional 8,086 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Electromed during the fourth quarter worth $1,760,000. Susquehanna International Group LLP grew its position in shares of 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 purchasing an additional 31,148 shares during the period. Finally, Navellier & Associates Inc. increased its stake in Electromed by 228.5% in the fourth quarter. Navellier & Associates Inc. now owns 56,368 shares of the company’s stock valued at $1,666,000 after purchasing an additional 39,208 shares during the last quarter. 40.82% of the stock is currently owned by hedge funds and other 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.