Electromed (NYSE:ELMD) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Electromed (NYSE:ELMD) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday,Zacks.com reports.

Separately, Roth Mkm reissued a “buy” rating and set a $36.00 price objective (up from $35.00) on shares of Electromed in a report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $36.50.

Electromed Price Performance

Shares of Electromed stock opened at $29.87 on Thursday. The company has a market cap of $249.12 million, a PE ratio of 39.83 and a beta of 0.27. The firm has a fifty day moving average price of $28.36 and a two-hundred day moving average price of $24.75. Electromed has a fifty-two week low of $17.73 and a fifty-two week high of $35.54.

Institutional Investors Weigh In On Electromed

Hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its stake in Electromed by 362.7% in the first quarter. Millennium Management LLC now owns 194,519 shares of the company’s stock valued at $4,641,000 after buying an additional 152,480 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Electromed by 717.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 106,005 shares of the company’s stock valued at $3,087,000 after acquiring an additional 93,030 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Electromed by 128.3% in the 2nd quarter. Geode Capital Management LLC now owns 155,540 shares of the company’s stock valued at $3,421,000 after acquiring an additional 87,401 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Electromed by 117.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 64,371 shares of the company’s stock valued at $1,416,000 after acquiring an additional 34,799 shares during the period. Finally, Jane Street Group LLC boosted its stake in Electromed by 136.3% during the 1st quarter. Jane Street Group LLC now owns 56,263 shares of the company’s stock worth $1,342,000 after acquiring an additional 32,456 shares during the last quarter. Institutional investors own 40.82% of the company’s stock.

Electromed Company Profile

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.