Electromed (NYSE:ELMD) Shares Down 0.2% - Here's What Happened

Electromed, Inc. (NYSE:ELMD - Get Free Report) shares were down 0.2% on Tuesday . The company traded as low as $24.47 and last traded at $24.78. Approximately 28,302 shares changed hands during trading, a decline of 65% from the average daily volume of 81,054 shares. The stock had previously closed at $24.83.

Wall Street Analysts Forecast Growth

ELMD has been the subject of several analyst reports. Lake Street Capital initiated coverage on Electromed in a report on Wednesday, August 27th. They set a "buy" rating and a $36.00 price target for the company. Roth Capital boosted their price objective on shares of Electromed from $29.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, August 27th. Zacks Research upgraded shares of Electromed from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 25th. Finally, Loop Capital set a $36.00 price objective on shares of Electromed in a research report on Wednesday, August 27th. Two equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat, Electromed currently has an average rating of "Strong Buy" and an average target price of $36.25.

Electromed Trading Down 0.2%

The company has a 50-day moving average price of $23.59 and a 200 day moving average price of $21.76. The stock has a market capitalization of $207.56 million, a P/E ratio of 33.04 and a beta of 0.47.

Insiders Place Their Bets

In other news, Director Andrew Summers sold 3,153 shares of the business's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $24.42, for a total transaction of $76,996.26. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 10.50% of the company's stock.

Institutional Trading of Electromed

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its holdings in shares of Electromed by 14.7% during the first quarter. Bank of New York Mellon Corp now owns 36,276 shares of the company's stock valued at $866,000 after buying an additional 4,661 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Electromed during the first quarter worth about $394,000. XTX Topco Ltd raised its holdings in shares of Electromed by 57.4% during the first quarter. XTX Topco Ltd now owns 16,414 shares of the company's stock worth $392,000 after purchasing an additional 5,985 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Electromed by 557.0% in the first quarter. Russell Investments Group Ltd. now owns 7,969 shares of the company's stock worth $186,000 after buying an additional 6,756 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Electromed by 32.5% during the 1st quarter. American Century Companies Inc. now owns 31,062 shares of the company's stock worth $741,000 after purchasing an additional 7,624 shares during the period. 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.

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