StockNews.com Downgrades Electromed (NYSE:ELMD) to Buy

Electromed (NYSE:ELMD) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday.

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

Electromed Stock Down 2.9 %

Shares of Electromed stock traded down $0.73 during trading on Monday, reaching $24.70. 120,942 shares of the company were exchanged, compared to its average volume of 64,680. Electromed has a twelve month low of $13.74 and a twelve month high of $35.56. The business has a 50-day moving average price of $30.85 and a 200-day moving average price of $26.29. The firm has a market capitalization of $211.36 million, a price-to-earnings ratio of 32.93 and a beta of 0.41.

Electromed declared that its board has authorized a stock repurchase program on Monday, March 10th that permits the company to buyback $5.00 million in shares. This buyback authorization permits the company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Electromed

In other Electromed news, Director Andrew Summers sold 35,273 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $28.83, for a total value of $1,016,920.59. Following the sale, the director now owns 129,190 shares in the company, valued at $3,724,547.70. This represents a 21.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kathleen Skarvan sold 38,954 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $29.28, for a total value of $1,140,573.12. Following the completion of the transaction, the director now directly owns 32,622 shares in the company, valued at $955,172.16. The trade was a 54.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,618 shares of company stock valued at $3,821,636 over the last three months. Company insiders own 14.00% of the company’s stock.

Institutional Investors Weigh In On Electromed

A number of large investors have recently modified their holdings of the business. Jefferies Financial Group Inc. acquired a new stake in shares of Electromed in the 4th quarter valued at $285,000. Squarepoint Ops LLC boosted its holdings in shares of Electromed by 7.8% in the 4th quarter. Squarepoint Ops LLC now owns 11,366 shares of the company’s stock valued at $336,000 after purchasing an additional 823 shares in the last quarter. Two Sigma Advisers LP bought a new position in shares of Electromed in the 4th quarter valued at $219,000. Two Sigma Investments LP acquired a new stake in shares of Electromed during the 4th quarter valued at $1,255,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Electromed during the 4th quarter worth $119,000. Institutional investors and hedge funds 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.