Electromed (NYSE:ELMD) Stock Rating Upgraded by Zacks Research

Key Points

• Electromed's stock rating has been upgraded from "hold" to a "strong-buy"" by Zacks Research, with a consensus average target price of $36.25.
• The stock recently traded up by 4.1% and has a market capitalization of approximately $201.96 million.
• Insider transactions reveal significant stock sales, with Director Andrew Summers reducing ownership by 95.20% after selling over 62,000 shares.

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

Several other research firms also recently issued reports on ELMD. Loop Capital set a $36.00 price objective on shares of Electromed in a research note on Wednesday, August 27th. Lake Street Capital initiated coverage on shares of Electromed in a report on Wednesday, August 27th. They issued a "buy" rating and a $36.00 target price for the company. Finally, Roth Capital increased their price target on shares of Electromed from $29.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. Two research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to MarketBeat, Electromed presently has a consensus rating of "Strong Buy" and an average target price of $36.25.

Electromed Trading Up 4.1%

Electromed stock opened at $24.19 on Thursday. Electromed has a twelve month low of $17.73 and a twelve month high of $35.56. The stock's fifty day simple moving average is $21.54 and its 200-day simple moving average is $21.72. The firm has a market capitalization of $201.96 million, a P/E ratio of 32.25 and a beta of 0.54.

Insider Transactions at Electromed

In related news, Director Andrew Summers sold 62,561 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $24.32, for a total transaction of $1,521,483.52. Following the completion of the transaction, the director directly owned 3,153 shares of the company's stock, valued at $76,680.96. This represents a 95.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 14.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ELMD. Millennium Management LLC increased its holdings in Electromed by 362.7% in the first quarter. Millennium Management LLC now owns 194,519 shares of the company's stock valued at $4,641,000 after buying an additional 152,480 shares in the last quarter. Geode Capital Management LLC increased its holdings in Electromed by 128.3% in the second quarter. Geode Capital Management LLC now owns 155,540 shares of the company's stock valued at $3,421,000 after buying an additional 87,401 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Electromed by 25.2% in the first quarter. Acadian Asset Management LLC now owns 267,975 shares of the company's stock valued at $6,388,000 after buying an additional 53,872 shares in the last quarter. Two Sigma Investments LP purchased a new position in Electromed in the fourth quarter valued at about $1,255,000. Finally, JPMorgan Chase & Co. increased its holdings in Electromed by 117.7% in the second quarter. JPMorgan Chase & Co. now owns 64,371 shares of the company's stock valued at $1,416,000 after buying an additional 34,799 shares in the last quarter. 40.82% of the stock is 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.

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