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

Electromed (NYSE:ELMD) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

Separately, B. Riley started coverage on shares of Electromed in a research report on Thursday, February 20th. They set a “buy” rating and a $38.00 price target for the company.

Electromed Trading Down 1.3 %

ELMD stock opened at $23.34 on Friday. The firm has a 50 day moving average of $28.97 and a 200-day moving average of $27.00. The firm has a market capitalization of $199.72 million, a P/E ratio of 31.12 and a beta of 0.41. Electromed has a 12 month low of $13.74 and a 12 month high of $35.56.

Electromed announced that its board has authorized a stock repurchase plan on Monday, March 10th that allows the company to repurchase $5.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, Director Andrew Summers sold 35,273 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $28.83, for a total value of $1,016,920.59. Following the sale, the director now directly owns 129,190 shares of the company’s stock, valued at $3,724,547.70. This trade represents a 21.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kathleen Skarvan sold 38,954 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $29.28, for a total transaction of $1,140,573.12. Following the completion of the transaction, the director now directly owns 32,622 shares of the company’s stock, valued at approximately $955,172.16. This represents a 54.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 133,618 shares of company stock worth $3,821,636. 14.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC boosted its holdings in shares of 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 purchasing an additional 823 shares in the last quarter. Aristides Capital LLC lifted its position in Electromed by 4.7% in the 4th quarter. Aristides Capital LLC now owns 26,076 shares of the company’s stock worth $771,000 after buying an additional 1,159 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in Electromed in the fourth quarter worth approximately $37,000. IFP Advisors Inc bought a new position in Electromed during the fourth quarter valued at approximately $59,000. Finally, Barclays PLC raised its stake in shares of Electromed by 25.0% during the fourth quarter. Barclays PLC now owns 12,529 shares of the company’s stock worth $371,000 after acquiring an additional 2,507 shares in the last quarter. Institutional investors 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.