Electromed (NYSE:ELMD) Upgraded at B. Riley

B. Riley upgraded shares of Electromed (NYSE:ELMD) to a strong-buy rating in a report published on Thursday,Zacks.com reports.

Separately, StockNews.com downgraded Electromed from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 8th.

Electromed Trading Up 10.2%

ELMD stock opened at $21.55 on Thursday. The company has a market capitalization of $180.72 million, a P/E ratio of 28.73 and a beta of 0.46. Electromed has a twelve month low of $13.74 and a twelve month high of $35.56. The business has a 50 day simple moving average of $23.10 and a 200-day simple moving average of $27.29.

Electromed announced that its Board of Directors has authorized a stock buyback program on Monday, March 10th that authorizes the company to buyback $5.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Electromed

In related news, Director Kathleen Skarvan sold 38,954 shares of Electromed stock in a transaction 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 directly 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 filing with the SEC, which is available at the SEC website. Also, Director Andrew Summers sold 35,273 shares of Electromed stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $28.83, for a total transaction of $1,016,920.59. Following the completion of the transaction, the director now owns 129,190 shares in the company, valued at approximately $3,724,547.70. This trade represents a 21.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 124,978 shares of company stock worth $3,542,996 in the last three months. Insiders own 14.00% of the company’s stock.

Hedge Funds Weigh In On Electromed

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in shares of Electromed during the 4th quarter worth $37,000. State of Wyoming purchased a new stake in shares of Electromed during the 1st quarter worth $48,000. IFP Advisors Inc purchased a new stake in shares of Electromed during the 4th quarter worth $59,000. Quantbot Technologies LP purchased a new stake in shares of Electromed during the 4th quarter worth $99,000. Finally, Bank of America Corp DE boosted its position 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. 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.