Electromed (NYSE:ELMD) Lowered to Buy Rating by StockNews.com

Electromed (NYSE:ELMD - Get Free Report) was downgraded by equities researchers at StockNews.com from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Thursday.

Separately, B. Riley initiated coverage on Electromed in a report on Thursday, February 20th. They set a "buy" rating and a $38.00 target price on the stock.

Electromed Trading Down 1.7 %

NYSE ELMD opened at $21.99 on Thursday. The company has a market cap of $188.17 million, a price-to-earnings ratio of 29.32 and a beta of 0.46. The company has a 50 day moving average of $23.76 and a 200-day moving average of $27.37. Electromed has a 1-year low of $13.74 and a 1-year high of $35.56.

Electromed declared that its board has approved a share repurchase program on Monday, March 10th that allows the company to buyback $5.00 million in shares. This buyback authorization allows the company to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

Insider Activity at Electromed

In related news, Director Kathleen Skarvan sold 38,954 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $29.28, for a total transaction of $1,140,573.12. Following the completion of the transaction, the director now directly owns 32,622 shares of the company's stock, valued at $955,172.16. This trade represents a 54.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew Summers sold 50,751 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $27.30, for a total value of $1,385,502.30. Following the completion of the sale, the director now owns 65,714 shares in the company, valued at $1,793,992.20. This trade represents a 43.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,618 shares of company stock valued at $3,821,636 over the last ninety days. 14.00% of the stock is owned by corporate insiders.

Institutional Trading of Electromed

Several institutional investors have recently added to or reduced their stakes in ELMD. Russell Investments Group Ltd. bought a new stake in shares of Electromed in the 4th quarter valued at $37,000. IFP Advisors Inc acquired a new position in Electromed in the fourth quarter valued at $59,000. Quantbot Technologies LP bought a new stake in Electromed during the fourth quarter valued at $99,000. Bank of America Corp DE grew its holdings in 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 acquiring an additional 2,570 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Electromed in the 4th quarter worth about $119,000. 40.82% of the stock is currently owned by 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.

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