Electromed (NYSE:ELMD) Cut to “Buy” at StockNews.com

StockNews.com downgraded shares of Electromed (NYSE:ELMD) from a strong-buy rating to a buy rating in a report issued on Thursday morning.

Electromed Stock Up 2.7 %

NYSE ELMD opened at $31.12 on Thursday. The firm has a market cap of $263.28 million, a PE ratio of 39.14 and a beta of 0.29. Electromed has a 52 week low of $9.90 and a 52 week high of $31.88. The company has a 50 day moving average price of $28.40 and a 200 day moving average price of $21.41.

Electromed (NYSE:ELMD) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.03 by $0.13. Electromed had a return on equity of 15.32% and a net margin of 11.34%. The firm had revenue of $14.67 million during the quarter.

Insider Activity

In other Electromed news, Director Andrew Summers sold 12,731 shares of Electromed stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $29.98, for a total transaction of $381,675.38. Following the completion of the sale, the director now owns 165,755 shares of the company’s stock, valued at approximately $4,969,334.90. The trade was a 7.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 14.00% of the company’s stock.

Institutional Investors Weigh In On Electromed

A number of institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp increased its holdings in Electromed by 14.5% in the 3rd quarter. State Street Corp now owns 22,066 shares of the company’s stock worth $474,000 after buying an additional 2,800 shares during the period. Gabelli Funds LLC increased its stake in shares of Electromed by 7.8% in the second quarter. Gabelli Funds LLC now owns 38,675 shares of the company’s stock worth $581,000 after acquiring an additional 2,808 shares during the period. Pekin Hardy Strauss Inc. raised its holdings in shares of Electromed by 9.9% during the third quarter. Pekin Hardy Strauss Inc. now owns 38,185 shares of the company’s stock worth $820,000 after purchasing an additional 3,435 shares during the last quarter. Renaissance Technologies LLC lifted its position in Electromed by 4.8% during the second quarter. Renaissance Technologies LLC now owns 103,004 shares of the company’s stock valued at $1,548,000 after purchasing an additional 4,736 shares during the period. Finally, Barclays PLC acquired a new stake in Electromed during the 3rd quarter worth about $215,000. Institutional investors and hedge funds 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.