Electromed (NYSE:ELMD) Lowered to "Buy" Rating by StockNews.com

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

Separately, B. Riley started coverage on Electromed in a report on Thursday, February 20th. They set a "buy" rating and a $38.00 target price on the stock.

Electromed Stock Performance

Electromed stock traded up $0.52 during midday trading on Friday, reaching $23.86. 82,256 shares of the company's stock were exchanged, compared to its average volume of 66,765. The stock's 50-day simple moving average is $28.77 and its 200 day simple moving average is $27.11. The firm has a market cap of $204.17 million, a price-to-earnings ratio of 31.81 and a beta of 0.41. Electromed has a 52 week low of $13.74 and a 52 week high of $35.56.

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

Insider Buying and Selling at Electromed

In other news, Director Kathleen Skarvan sold 38,954 shares of the business's stock in a transaction dated 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 completion of the sale, the director now owns 32,622 shares of the company's stock, valued at approximately $955,172.16. The trade was a 54.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrew Summers sold 50,751 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $27.30, for a total transaction of $1,385,502.30. Following the completion of the transaction, the director now owns 65,714 shares in the company, valued at $1,793,992.20. This trade represents a 43.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,618 shares of company stock valued at $3,821,636 in the last three months. 14.00% of the stock is currently owned by company insiders.

Institutional Trading of Electromed

Institutional investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership increased its holdings in shares of Electromed by 261.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 114,579 shares of the company's stock worth $3,386,000 after purchasing an additional 82,839 shares during the period. Raymond James Financial Inc. acquired a new stake in Electromed during the fourth quarter worth approximately $1,760,000. Sowell Financial Services LLC bought a new position in Electromed during the 4th quarter worth $1,518,000. Lazard Asset Management LLC raised its holdings in Electromed by 19,860.8% in the 4th quarter. Lazard Asset Management LLC now owns 47,906 shares of the company's stock valued at $1,415,000 after acquiring an additional 47,666 shares in the last quarter. Finally, Two Sigma Investments LP bought a new stake in shares of Electromed during the 4th quarter valued at $1,255,000. Institutional investors 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.