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

StockNews.com cut shares of Electromed (NYSE:ELMD) from a strong-buy rating to a buy rating in a research note published on Thursday morning.

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

Electromed Price Performance

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

Insider Buying and Selling at Electromed

In other Electromed news, Director Kathleen Skarvan sold 38,954 shares of the stock in a transaction on Tuesday, February 18th. The shares were 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. This represents a 54.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Andrew Summers sold 50,751 shares of the firm’s 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 transaction, the director now owns 65,714 shares in the company, valued at approximately $1,793,992.20. This trade represents a 43.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 163,812 shares of company stock worth $4,728,773 over the last ninety days. 14.00% of the stock is currently owned by insiders.

Institutional Trading of Electromed

Several large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new position in shares of Electromed in the 4th quarter valued at approximately $37,000. IFP Advisors Inc acquired a new position in Electromed during the fourth quarter valued at approximately $59,000. Quantbot Technologies LP bought a new position in shares of Electromed in the fourth quarter valued at approximately $99,000. Bank of America Corp DE lifted its stake in shares of Electromed by 179.2% in the fourth quarter. Bank of America Corp DE now owns 4,004 shares of the company’s stock worth $118,000 after buying 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 4th quarter worth $119,000. Institutional investors own 40.82% of the company’s stock.

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.