Electromed (NYSE:ELMD) Coverage Initiated at B. Riley

Equities research analysts at B. Riley assumed coverage on shares of Electromed (NYSE:ELMD) in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $38.00 price target on the stock. B. Riley’s price target would suggest a potential upside of 35.86% from the company’s previous close.

Separately, StockNews.com lowered Electromed from a “strong-buy” rating to a “buy” rating in a report on Wednesday.

Electromed Stock Down 2.3 %

NYSE ELMD opened at $27.97 on Thursday. The stock has a market cap of $239.42 million, a PE ratio of 37.29 and a beta of 0.33. The business has a 50 day moving average price of $31.40 and a two-hundred day moving average price of $25.26. Electromed has a fifty-two week low of $13.74 and a fifty-two week high of $35.56.

Insider Activity at Electromed

In related news, Director Kathleen Skarvan sold 38,954 shares of the stock in a transaction on 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 trade represents a 54.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrew Summers sold 17,463 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $30.09, for a total value of $525,461.67. Following the sale, the director now owns 189,838 shares of the company’s stock, valued at $5,712,225.42. The trade was a 8.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,788 shares of company stock worth $2,326,350 in the last quarter. 14.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Electromed

Institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. acquired a new stake in Electromed during the 4th quarter worth about $37,000. IFP Advisors Inc purchased a new stake in shares of Electromed during the 4th quarter worth about $59,000. Quantbot Technologies LP purchased a new stake in shares of Electromed during the 4th quarter worth about $99,000. Bank of America Corp DE raised its stake in shares of Electromed by 179.2% during the 4th quarter. Bank of America Corp DE now owns 4,004 shares of the company’s stock worth $118,000 after purchasing an additional 2,570 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Electromed during the 4th quarter worth about $119,000. 40.82% of the stock is currently owned by institutional investors and hedge funds.

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.