Electromed (NYSE:ELMD) Rating Lowered to Buy at StockNews.com

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

Separately, B. Riley initiated coverage on Electromed in a report on Thursday, February 20th. They issued a “buy” rating and a $38.00 price objective for the company.

Electromed Stock Down 2.9 %

ELMD stock traded down $0.73 during trading on Monday, reaching $24.70. 120,942 shares of the company’s stock were exchanged, compared to its average volume of 64,680. Electromed has a 1-year low of $13.74 and a 1-year high of $35.56. The company’s fifty day moving average price is $30.85 and its 200-day moving average price is $26.29. The firm has a market cap of $211.36 million, a PE ratio of 32.93 and a beta of 0.41.

Electromed declared that its Board of Directors has authorized a share buyback plan on Monday, March 10th that authorizes the company to repurchase $5.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity at Electromed

In other news, Director Andrew Summers sold 50,751 shares of Electromed stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $27.30, for a total transaction of $1,385,502.30. Following the sale, the director now owns 65,714 shares of the company’s stock, valued at approximately $1,793,992.20. This trade represents a 43.58 % 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 Electromed 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 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. In the last ninety days, insiders have sold 133,618 shares of company stock valued at $3,821,636. Corporate insiders own 14.00% of the company’s stock.

Hedge Funds Weigh In On Electromed

Hedge funds and other institutional investors have recently modified their holdings of the stock. Squarepoint Ops LLC raised its position in 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 during the last quarter. Aristides Capital LLC raised its position in Electromed by 4.7% in the 4th quarter. Aristides Capital LLC now owns 26,076 shares of the company’s stock valued at $771,000 after purchasing an additional 1,159 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Electromed in the 4th quarter valued at $37,000. IFP Advisors Inc bought a new position in Electromed in the 4th quarter valued at $59,000. Finally, Barclays PLC raised its position in Electromed by 25.0% in the 4th quarter. Barclays PLC now owns 12,529 shares of the company’s stock valued at $371,000 after purchasing an additional 2,507 shares during the last quarter. 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.