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

StockNews.com lowered shares of Electromed (NYSE:ELMD - Free Report) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday.

Separately, B. Riley started coverage on Electromed in a research note on Thursday, February 20th. They issued a "buy" rating and a $38.00 price target on the stock.

Electromed Stock Up 1.8%

Shares of ELMD stock traded up $0.41 during mid-day trading on Thursday, reaching $22.85. 7,514 shares of the company's stock traded hands, compared to its average volume of 69,313. The company's 50-day moving average price is $23.51 and its 200-day moving average price is $27.38. The company has a market cap of $195.53 million, a P/E ratio of 30.47 and a beta of 0.46. Electromed has a 12 month low of $13.74 and a 12 month high of $35.56.

Electromed announced that its Board of Directors has initiated a stock repurchase plan on Monday, March 10th that allows the company to buyback $5.00 million in outstanding shares. This buyback authorization allows 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 shares are undervalued.

Insider Activity at Electromed

In related news, Director Andrew Summers sold 50,751 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $27.30, for a total transaction of $1,385,502.30. Following the completion of the sale, the director now directly owns 65,714 shares of the company's stock, valued at approximately $1,793,992.20. This trade represents a 43.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathleen Skarvan sold 8,640 shares of Electromed stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $32.25, for a total value of $278,640.00. Following the completion of the transaction, the director now owns 71,576 shares in the company, valued at $2,308,326. This trade represents a 10.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,618 shares of company stock valued at $3,821,636. 14.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC boosted its holdings in Electromed by 7.8% in the 4th quarter. Squarepoint Ops LLC now owns 11,366 shares of the company's stock worth $336,000 after acquiring an additional 823 shares during the period. Aristides Capital LLC grew its holdings in Electromed by 4.7% during the 4th quarter. Aristides Capital LLC now owns 26,076 shares of the company's stock valued at $771,000 after purchasing an additional 1,159 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Electromed during the 4th quarter worth $37,000. IFP Advisors Inc acquired a new position in Electromed in the 4th quarter worth $59,000. Finally, Barclays PLC boosted its position in Electromed by 25.0% in the 4th quarter. Barclays PLC now owns 12,529 shares of the company's stock valued at $371,000 after buying an additional 2,507 shares during the last quarter. 40.82% of the stock is currently owned by institutional investors and hedge funds.

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.