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 report released on Friday.

Separately, B. Riley assumed coverage on Electromed in a research note on Thursday, February 20th. They set a “buy” rating and a $38.00 target price on the stock.

Electromed Price Performance

NYSE ELMD opened at $23.34 on Friday. Electromed has a 1 year low of $13.74 and a 1 year high of $35.56. The stock has a market capitalization of $199.72 million, a PE ratio of 31.12 and a beta of 0.41. The business’s 50-day moving average is $28.97 and its 200 day moving average is $27.00.

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

Insider Activity at Electromed

In other news, Director Andrew Summers sold 50,751 shares of the business’s stock in a transaction on Monday, February 24th. The shares were 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 in the company, valued at approximately $1,793,992.20. The trade was a 43.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kathleen Skarvan sold 8,640 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $32.25, for a total transaction of $278,640.00. Following the completion of the sale, the director now directly owns 71,576 shares in the company, valued at $2,308,326. This represents a 10.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,618 shares of company stock worth $3,821,636 over the last 90 days. 14.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Electromed

Hedge funds have recently bought and sold shares of the business. Jefferies Financial Group Inc. purchased a new position in shares of Electromed during the fourth quarter valued at approximately $285,000. Squarepoint Ops LLC increased its position in Electromed by 7.8% during the 4th quarter. Squarepoint Ops LLC now owns 11,366 shares of the company’s stock valued at $336,000 after buying an additional 823 shares in the last quarter. Two Sigma Advisers LP purchased a new position in Electromed during the fourth quarter valued at $219,000. Two Sigma Investments LP purchased a new position in Electromed during the fourth quarter valued at $1,255,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Electromed in the fourth quarter worth $119,000. 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.