Electromed (NYSE:ELMD) Rating Increased to Strong-Buy at B. Riley

Electromed (NYSE:ELMD - Get Free Report) was upgraded by investment analysts at B. Riley to a "strong-buy" rating in a note issued to investors on Thursday,Zacks.com reports.

Separately, StockNews.com cut shares of Electromed from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 8th.

Electromed Price Performance

NYSE:ELMD opened at $21.55 on Thursday. The stock has a market cap of $180.72 million, a P/E ratio of 28.73 and a beta of 0.46. Electromed has a one year low of $13.74 and a one year high of $35.56. The company has a fifty day moving average price of $23.10 and a 200 day moving average price of $27.26.

Electromed declared that its Board of Directors has initiated a share repurchase plan on Monday, March 10th that allows the company to repurchase $5.00 million in shares. This repurchase authorization allows the company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Insider Activity

In other news, Director Kathleen Skarvan sold 38,954 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $29.28, for a total value of $1,140,573.12. Following the completion of the transaction, the director now owns 32,622 shares in the company, valued at approximately $955,172.16. This represents a 54.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andrew Summers sold 35,273 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $28.83, for a total transaction of $1,016,920.59. Following the completion of the transaction, the director now owns 129,190 shares of the company's stock, valued at approximately $3,724,547.70. This represents a 21.45% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 124,978 shares of company stock worth $3,542,996. 14.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Electromed

A number of hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC increased its position in shares of Electromed by 7.8% during the 4th quarter. Squarepoint Ops LLC now owns 11,366 shares of the company's stock worth $336,000 after purchasing an additional 823 shares in the last quarter. Aristides Capital LLC increased its position in shares of Electromed by 4.7% during the 4th quarter. Aristides Capital LLC now owns 26,076 shares of the company's stock worth $771,000 after purchasing an additional 1,159 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Electromed during the 4th quarter worth about $37,000. Quantbot Technologies LP increased its position in shares of Electromed by 57.7% during the 1st quarter. Quantbot Technologies LP now owns 5,301 shares of the company's stock worth $126,000 after purchasing an additional 1,939 shares in the last quarter. Finally, IFP Advisors Inc acquired a new stake in shares of Electromed during the 4th quarter worth about $59,000. Institutional investors and hedge funds own 40.82% of the company's stock.

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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