Electromed (NYSE:ELMD) Now Covered by Analysts at B. Riley

Investment analysts at B. Riley began coverage on shares of Electromed (NYSE:ELMD) in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $38.00 price target on the stock. B. Riley’s price target would indicate a potential upside of 29.43% from the stock’s current price.

Separately, StockNews.com cut Electromed from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

Electromed Price Performance

Shares of NYSE ELMD opened at $29.36 on Thursday. Electromed has a 1-year low of $13.74 and a 1-year high of $35.56. The business has a 50-day moving average of $31.40 and a 200-day moving average of $25.15. The company has a market capitalization of $251.32 million, a price-to-earnings ratio of 39.15 and a beta of 0.33.

Insider Buying and Selling

In other news, Director Andrew Summers sold 17,463 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $30.09, for a total transaction of $525,461.67. Following the sale, the director now directly owns 189,838 shares in the company, valued at approximately $5,712,225.42. This represents a 8.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathleen Skarvan sold 38,954 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $29.28, for a total value of $1,140,573.12. Following the sale, the director now owns 32,622 shares in the company, 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. Over the last 90 days, insiders have sold 77,788 shares of company stock worth $2,326,350. 14.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Electromed

A number of institutional investors and hedge funds have recently made changes to their positions in ELMD. Hunter Associates Investment Management LLC raised its position in shares of Electromed by 12.3% during the 3rd quarter. Hunter Associates Investment Management LLC now owns 102,450 shares of the company’s stock worth $2,199,000 after purchasing an additional 11,250 shares during the period. Navellier & Associates Inc. bought a new position in Electromed in the 3rd quarter worth approximately $368,000. Pekin Hardy Strauss Inc. grew its holdings in Electromed by 9.9% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 38,185 shares of the company’s stock worth $820,000 after buying an additional 3,435 shares in the last quarter. Walleye Capital LLC bought a new position in Electromed in the 3rd quarter worth approximately $274,000. Finally, State Street Corp boosted its stake in Electromed by 14.5% during the 3rd quarter. State Street Corp now owns 22,066 shares of the company’s stock valued at $474,000 after purchasing an additional 2,800 shares in the last quarter. 40.82% of the stock is currently owned by institutional investors and hedge funds.

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.