Electromed (NYSE:ELMD) Lowered to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of Electromed (NYSE:ELMD) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks.com reports.

Separately, B. Riley Financial lifted their target price on shares of Electromed from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Electromed presently has a consensus rating of “Moderate Buy” and an average price target of $37.50.

Electromed Trading Down 3.6%

NYSE:ELMD opened at $44.34 on Monday. The business’s fifty day moving average price is $38.30 and its 200 day moving average price is $30.31. The firm has a market capitalization of $367.14 million, a price-to-earnings ratio of 59.12 and a beta of 0.50. Electromed has a 1-year low of $17.73 and a 1-year high of $47.40.

Insider Activity at Electromed

In other Electromed news, CEO James L. Cunniff sold 9,700 shares of Electromed stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $36.50, for a total value of $354,050.00. Following the completion of the sale, the chief executive officer directly owned 147,751 shares in the company, valued at $5,392,911.50. The trade was a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bradley M. Nagel sold 11,801 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $36.35, for a total transaction of $428,966.35. Following the completion of the sale, the chief financial officer directly owned 19,638 shares of the company’s stock, valued at $713,841.30. This represents a 37.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 61,501 shares of company stock valued at $2,202,216. 10.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Electromed

Large investors have recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in Electromed by 49.3% during the first quarter. Bank of America Corp DE now owns 17,059 shares of the company’s stock valued at $399,000 after buying an additional 5,634 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Electromed by 10.8% during the 1st quarter. Lazard Asset Management LLC now owns 95,213 shares of the company’s stock worth $2,229,000 after acquiring an additional 9,269 shares in the last quarter. Punch & Associates Investment Management Inc. increased its holdings in shares of Electromed by 20.1% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 224,520 shares of the company’s stock valued at $5,256,000 after acquiring an additional 37,500 shares during the last quarter. Gabelli Funds LLC raised its stake in shares of Electromed by 10.9% in the 1st quarter. Gabelli Funds LLC now owns 40,700 shares of the company’s stock valued at $953,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Aristides Capital LLC raised its stake in shares of Electromed by 22.1% in the 1st quarter. Aristides Capital LLC now owns 33,332 shares of the company’s stock valued at $780,000 after acquiring an additional 6,030 shares in the last quarter. 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.