Electromed (NYSEAMERICAN:ELMD) Trading 6.5% Higher

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Electromed, Inc. (NYSEAMERICAN:ELMD) traded up 6.5% on Thursday . The company traded as high as $10.99 and last traded at $9.89, 129,083 shares traded hands during mid-day trading. An increase of 728% from the average session volume of 15,590 shares. The stock had previously closed at $9.29.

Separately, Dougherty & Co assumed coverage on Electromed in a research note on Friday, October 18th. They issued a “buy” rating and a $12.00 price objective for the company.

Electromed (NYSEAMERICAN:ELMD) last released its quarterly earnings data on Tuesday, November 12th. The medical equipment provider reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.11. The business had revenue of $8.30 million during the quarter.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ELMD. Teton Advisors Inc. boosted its stake in Electromed by 4.4% during the third quarter. Teton Advisors Inc. now owns 166,843 shares of the medical equipment provider’s stock valued at $1,103,000 after buying an additional 7,000 shares during the last quarter. BlackRock Inc. boosted its stake in Electromed by 37.0% during the second quarter. BlackRock Inc. now owns 33,204 shares of the medical equipment provider’s stock valued at $181,000 after buying an additional 8,965 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Electromed by 16.0% during the second quarter. Renaissance Technologies LLC now owns 102,340 shares of the medical equipment provider’s stock valued at $558,000 after buying an additional 14,100 shares during the last quarter. Finally, Susquehanna International Group LLP bought a new position in Electromed during the second quarter valued at approximately $127,000.

About Electromed (NYSEAMERICAN:ELMD)

Electromed, Inc develops, manufactures, markets, and sells airway clearance therapy and related products in the United States and internationally. The company offers SmartVest airway clearance 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 patients with compromised pulmonary function; and SmartVest SQL System that provides advanced generator programmability and an enhanced pause feature with save, lock, and restore functionality.

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