B. Riley Initiates Coverage on Electromed (NYSE:ELMD)

B. Riley initiated coverage on shares of Electromed (NYSE:ELMD) in a report published on Thursday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $38.00 target price on the stock.

Separately, StockNews.com downgraded Electromed from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

Electromed Price Performance

Electromed stock opened at $28.63 on Thursday. The company has a market cap of $245.07 million, a price-to-earnings ratio of 38.17 and a beta of 0.33. The firm has a 50-day moving average of $31.40 and a 200-day moving average of $25.17. Electromed has a one year low of $13.74 and a one year high of $35.56.

Insiders Place Their Bets

In other news, Director Andrew Summers sold 17,463 shares of Electromed stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $30.09, for a total transaction of $525,461.67. Following the completion of the transaction, the director now directly owns 189,838 shares in the company, valued at approximately $5,712,225.42. The trade was a 8.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathleen Skarvan sold 8,640 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $32.25, for a total value of $278,640.00. Following the transaction, the director now directly owns 71,576 shares in the company, valued at $2,308,326. The trade was a 10.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,788 shares of company stock valued at $2,326,350. 14.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Electromed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ELMD. Ritholtz Wealth Management bought a new position in shares of Electromed in the fourth quarter valued at about $488,000. Barclays PLC bought a new stake in shares of Electromed during the 3rd quarter worth about $215,000. Navellier & Associates Inc. acquired a new position in Electromed in the 3rd quarter valued at about $368,000. State Street Corp raised its holdings in Electromed by 14.5% in the 3rd quarter. State Street Corp now owns 22,066 shares of the company’s stock valued at $474,000 after acquiring an additional 2,800 shares during the period. Finally, Walleye Capital LLC acquired a new stake in Electromed during the third quarter worth approximately $274,000. 40.82% of the stock is owned by institutional investors.

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.