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

StockNews.com cut shares of Electromed (NYSE:ELMD) from a strong-buy rating to a buy rating in a research note published on Friday morning.

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

Electromed Stock Down 1.3 %

Shares of Electromed stock opened at $23.34 on Friday. Electromed has a 12 month low of $13.74 and a 12 month high of $35.56. The stock has a market cap of $199.72 million, a PE ratio of 31.12 and a beta of 0.41. The business has a fifty day simple moving average of $28.97 and a 200-day simple moving average of $27.07.

Electromed announced that its board has approved a stock buyback program on Monday, March 10th that allows the company to repurchase $5.00 million in shares. This repurchase authorization allows the company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, Director Andrew Summers sold 50,751 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 65,714 shares in the company, valued at approximately $1,793,992.20. The trade was a 43.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kathleen Skarvan sold 38,954 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $29.28, for a total value of $1,140,573.12. Following the transaction, the director now owns 32,622 shares in the company, valued at approximately $955,172.16. This trade represents a 54.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,618 shares of company stock worth $3,821,636. 14.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC grew its holdings in Electromed by 7.8% in the 4th quarter. Squarepoint Ops LLC now owns 11,366 shares of the company’s stock valued at $336,000 after buying an additional 823 shares during the last quarter. Aristides Capital LLC boosted its position in shares of Electromed by 4.7% in the fourth quarter. Aristides Capital LLC now owns 26,076 shares of the company’s stock valued at $771,000 after acquiring an additional 1,159 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Electromed in the fourth quarter worth $37,000. IFP Advisors Inc bought a new position in Electromed during the fourth quarter worth $59,000. Finally, Barclays PLC boosted its holdings in Electromed by 25.0% in the 4th quarter. Barclays PLC now owns 12,529 shares of the company’s stock valued at $371,000 after purchasing an additional 2,507 shares during the period. Institutional investors and hedge funds 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.