Electromed (NYSE:ELMD) Coverage Initiated by Analysts at Roth Capital

Roth Capital initiated coverage on shares of Electromed (NYSE:ELMD - Free Report) in a research note issued to investors on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating and a $29.00 price objective on the stock.

A number of other brokerages also recently weighed in on ELMD. B. Riley raised Electromed to a "strong-buy" rating in a research note on Thursday, May 15th. Wall Street Zen lowered Electromed from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 8th.

Electromed Stock Performance

ELMD stock traded up $0.57 during trading on Tuesday, hitting $18.69. The stock had a trading volume of 86,231 shares, compared to its average volume of 82,056. Electromed has a 1-year low of $13.74 and a 1-year high of $35.56. The company's 50 day moving average price is $20.38 and its two-hundred day moving average price is $24.74. The stock has a market cap of $156.73 million, a price-to-earnings ratio of 24.92 and a beta of 0.41.

Hedge Funds Weigh In On Electromed

A number of hedge funds have recently added to or reduced their stakes in the company. Cetera Investment Advisers purchased a new stake in Electromed in the 4th quarter worth about $471,000. Northern Trust Corp increased its holdings in Electromed by 14.1% during the fourth quarter. Northern Trust Corp now owns 65,350 shares of the company's stock valued at $1,931,000 after buying an additional 8,086 shares during the period. Bank of America Corp DE increased its holdings in Electromed by 179.2% during the fourth quarter. Bank of America Corp DE now owns 4,004 shares of the company's stock valued at $118,000 after buying an additional 2,570 shares during the period. Jane Street Group LLC purchased a new position in Electromed during the fourth quarter valued at approximately $703,000. Finally, BNP Paribas Financial Markets purchased a new position in Electromed in the fourth quarter worth $342,000. 40.82% of the stock is currently owned by hedge funds and other institutional investors.

Electromed Company Profile

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.