Electromed (NYSE:ELMD) Downgraded to Buy Rating by StockNews.com

Electromed (NYSE:ELMD) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.

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

Electromed Stock Performance

ELMD opened at $27.04 on Thursday. The company has a market capitalization of $231.38 million, a P/E ratio of 36.05 and a beta of 0.33. The stock has a fifty day moving average of $31.34 and a 200-day moving average of $25.60. Electromed has a fifty-two week low of $13.74 and a fifty-two week high of $35.56.

Insider Activity at Electromed

In other Electromed news, Director Kathleen Skarvan sold 8,640 shares of Electromed stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $32.25, for a total value of $278,640.00. Following the transaction, the director now owns 71,576 shares in the company, valued at $2,308,326. The trade was a 10.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andrew Summers sold 50,751 shares of Electromed stock in a transaction dated 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 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 quarter. 14.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. bought a new position in Electromed in the fourth quarter valued at about $37,000. IFP Advisors Inc bought a new position in Electromed in the fourth quarter valued at about $59,000. Quantbot Technologies LP bought a new stake in shares of Electromed during the fourth quarter worth about $99,000. Bank of America Corp DE grew 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 worth $118,000 after purchasing an additional 2,570 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Electromed during the fourth quarter worth about $119,000. 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.