Electromed (NYSE:ELMD) Stock Rating Lowered by Zacks Research

Electromed (NYSE:ELMD) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Separately, Roth Mkm restated a “buy” rating and set a $36.00 price target (up from $35.00) on shares of Electromed in a report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $36.50.

Electromed Stock Performance

Shares of ELMD opened at $29.87 on Thursday. Electromed has a 52 week low of $17.73 and a 52 week high of $35.54. The stock has a market capitalization of $249.12 million, a price-to-earnings ratio of 39.83 and a beta of 0.27. The stock has a fifty day moving average of $28.36 and a 200-day moving average of $24.71.

Hedge Funds Weigh In On Electromed

Hedge funds have recently made changes to their positions in the stock. Millennium Management LLC raised its holdings in Electromed by 362.7% during the 1st quarter. Millennium Management LLC now owns 194,519 shares of the company’s stock worth $4,641,000 after purchasing an additional 152,480 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Electromed by 20.1% during the first quarter. NewEdge Advisors LLC now owns 17,952 shares of the company’s stock worth $428,000 after buying an additional 3,001 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Electromed by 9.0% during the first quarter. Goldman Sachs Group Inc. now owns 32,281 shares of the company’s stock worth $770,000 after buying an additional 2,672 shares during the period. Jane Street Group LLC raised its stake in Electromed by 136.3% during the first quarter. Jane Street Group LLC now owns 56,263 shares of the company’s stock worth $1,342,000 after buying an additional 32,456 shares during the last quarter. Finally, AlphaQuest LLC lifted its holdings in Electromed by 47.2% in the second quarter. AlphaQuest LLC now owns 17,568 shares of the company’s stock valued at $386,000 after buying an additional 5,630 shares during the period. 40.82% of the stock is currently owned by institutional investors.

Electromed Company Profile

Electromed Inc (NYSE: ELMD) develops and manufactures sleep therapy products designed to support individuals with breathing disorders such as obstructive sleep apnea. The company’s core business activities include the design, production and distribution of continuous positive airway pressure (CPAP) and bilevel positive airway pressure (BiPAP) accessories. Electromed’s focus on supplying both disposable and reusable components allows durable medical equipment providers to offer comprehensive therapy solutions to patients.

The company’s product portfolio encompasses masks, mask cushions, headgear, tubing, filters and humidification components.