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

StockNews.com upgraded shares of Electromed (NYSE:ELMD - Free Report) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday.

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

Electromed Trading Down 1.1 %

ELMD traded down $0.28 during trading on Thursday, reaching $24.45. The stock had a trading volume of 83,387 shares, compared to its average volume of 65,727. The company has a market capitalization of $209.22 million, a price-to-earnings ratio of 32.60 and a beta of 0.41. The stock's 50 day moving average is $29.73 and its two-hundred day moving average is $26.89. Electromed has a one year low of $13.74 and a one year high of $35.56.

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

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Insider Activity at Electromed

In related news, Director Kathleen Skarvan sold 38,954 shares of the company'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 transaction, the director now owns 32,622 shares in the company, valued at $955,172.16. The trade was a 54.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andrew Summers sold 50,751 shares of the firm'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 sale, the director now owns 65,714 shares of the company's stock, valued at approximately $1,793,992.20. This represents a 43.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,618 shares of company stock valued at $3,821,636 in the last 90 days. Corporate insiders own 14.00% of the company's stock.

Hedge Funds Weigh In On Electromed

A number of hedge funds have recently added to or reduced their stakes in ELMD. Arrowstreet Capital Limited Partnership increased its holdings in shares of Electromed by 261.0% in the 4th 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Electromed during the fourth quarter valued at $1,760,000. Sowell Financial Services LLC purchased a new stake in shares of Electromed during the fourth quarter valued at $1,518,000. Lazard Asset Management LLC increased 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 worth $1,415,000 after buying an additional 47,666 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new position in Electromed in the 4th quarter worth about $1,255,000. 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.