Electromed (NYSE:ELMD) Cut to “Buy” at StockNews.com

StockNews.com downgraded shares of Electromed (NYSE:ELMD) from a strong-buy rating to a buy rating in a research note published on Wednesday morning.

Electromed Price Performance

NYSE:ELMD opened at $27.97 on Wednesday. Electromed has a one year low of $13.74 and a one year high of $35.56. The company has a market cap of $239.42 million, a PE ratio of 37.29 and a beta of 0.33. The firm has a 50-day moving average of $31.40 and a 200-day moving average of $25.26.

Insider Transactions at Electromed

In related news, Director Andrew Summers sold 17,463 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $30.09, for a total transaction of $525,461.67. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathleen Skarvan sold 8,640 shares of the stock in a transaction dated Friday, February 14th. The shares were 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 owns 71,576 shares of the company’s stock, valued at approximately $2,308,326. This trade represents a 10.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,788 shares of company stock valued at $2,326,350 over the last ninety days. 14.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Electromed

A number of hedge funds and other institutional investors have recently modified their holdings of ELMD. Russell Investments Group Ltd. bought a new stake in Electromed during the fourth quarter worth $37,000. IFP Advisors Inc purchased a new stake in shares of Electromed during the 4th quarter valued at $59,000. Quantbot Technologies LP purchased a new stake in shares of Electromed during the 4th quarter valued at $99,000. Bank of America Corp DE raised its stake in shares of Electromed by 179.2% during the 4th quarter. Bank of America Corp DE now owns 4,004 shares of the company’s stock worth $118,000 after purchasing an additional 2,570 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Electromed in the 4th quarter worth about $119,000. Hedge funds and other 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.