Electromed (NYSE:ELMD) Raised to “Strong-Buy” at StockNews.com

Electromed (NYSE:ELMD) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.

Separately, B. Riley initiated coverage on Electromed in a research note on Thursday, February 20th. They set a “buy” rating and a $38.00 price objective on the stock.

Electromed Stock Performance

NYSE:ELMD opened at $24.73 on Thursday. Electromed has a 52-week low of $13.74 and a 52-week high of $35.56. The firm has a market cap of $211.61 million, a price-to-earnings ratio of 32.97 and a beta of 0.41. The business’s fifty day moving average is $29.85 and its 200 day moving average is $26.70.

Electromed declared that its Board of Directors has authorized a share repurchase program on Monday, March 10th that allows the company to repurchase $5.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Electromed news, Director Andrew Summers sold 50,751 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $27.30, for a total value of $1,385,502.30. Following the transaction, the director now directly owns 65,714 shares in the company, valued at $1,793,992.20. This represents a 43.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathleen Skarvan sold 38,954 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was 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 $955,172.16. This represents a 54.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,618 shares of company stock worth $3,821,636 in the last ninety days. 14.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Electromed

Several institutional investors have recently bought and sold shares of the stock. Jefferies Financial Group Inc. purchased a new stake in Electromed during the 4th quarter valued at about $285,000. Squarepoint Ops LLC boosted its holdings in Electromed by 7.8% during the 4th quarter. Squarepoint Ops LLC now owns 11,366 shares of the company’s stock valued at $336,000 after acquiring an additional 823 shares during the period. Two Sigma Advisers LP purchased a new stake in Electromed during the 4th quarter valued at about $219,000. Two Sigma Investments LP purchased a new stake in Electromed during the 4th quarter valued at about $1,255,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Electromed during the 4th quarter valued at about $119,000. 40.82% of the stock is currently 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.