Electromed (NYSE:ELMD) Downgraded by Zacks Research to “Hold”

Electromed (NYSE:ELMD) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Separately, B. Riley Financial lifted their price objective on Electromed from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Electromed currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

Electromed Stock Performance

Shares of NYSE ELMD opened at $44.34 on Monday. Electromed has a 1 year low of $17.73 and a 1 year high of $47.40. The stock’s 50-day simple moving average is $38.30 and its 200-day simple moving average is $30.31. The firm has a market cap of $367.14 million, a price-to-earnings ratio of 59.12 and a beta of 0.50.

Insider Transactions at Electromed

In related news, CEO James L. Cunniff sold 9,700 shares of Electromed stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $36.50, for a total value of $354,050.00. Following the completion of the transaction, the chief executive officer directly owned 147,751 shares in the company, valued at approximately $5,392,911.50. This trade represents a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen Skarvan sold 40,000 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $35.48, for a total value of $1,419,200.00. Following the transaction, the director directly owned 35,622 shares in the company, valued at approximately $1,263,868.56. This represents a 52.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 61,501 shares of company stock valued at $2,202,216. Insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On Electromed

Institutional investors have recently made changes to their positions in the company. Kestra Advisory Services LLC bought a new position in Electromed during the fourth quarter worth $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Electromed during the 4th quarter valued at about $43,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Electromed during the second quarter valued at approximately $83,000. New York State Common Retirement Fund bought a new position in Electromed during the 2nd quarter worth $103,000. Finally, SG Americas Securities LLC bought a new position in Electromed during the 4th quarter worth $114,000. 40.82% of the stock is currently owned by institutional investors.

About Electromed

Electromed Inc (NYSE: ELMD) develops and manufactures sleep therapy products designed to support individuals with breathing disorders such as obstructive sleep apnea. The company’s core business activities include the design, production and distribution of continuous positive airway pressure (CPAP) and bilevel positive airway pressure (BiPAP) accessories. Electromed’s focus on supplying both disposable and reusable components allows durable medical equipment providers to offer comprehensive therapy solutions to patients.

The company’s product portfolio encompasses masks, mask cushions, headgear, tubing, filters and humidification components.