Electromed (NYSE:ELMD) Upgraded to Strong-Buy at Zacks Research

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

Separately, Roth Capital reissued a “buy” rating and set a $36.00 price target (up previously from $35.00) on shares of Electromed in a research report on Thursday, November 13th. Two analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat, Electromed currently has an average rating of “Strong Buy” and an average price target of $36.50.

Electromed Price Performance

Shares of Electromed stock opened at $27.39 on Wednesday. The stock’s 50 day simple moving average is $26.90 and its 200-day simple moving average is $23.64. The stock has a market cap of $228.43 million, a P/E ratio of 36.52 and a beta of 0.26. Electromed has a 1-year low of $17.73 and a 1-year high of $35.56.

Institutional Trading of Electromed

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its holdings in Electromed by 10.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 70,983 shares of the company’s stock valued at $1,743,000 after purchasing an additional 6,612 shares during the last quarter. Punch & Associates Investment Management Inc. grew its stake in shares of Electromed by 7.3% in the third quarter. Punch & Associates Investment Management Inc. now owns 175,520 shares of the company’s stock valued at $4,309,000 after buying an additional 11,926 shares in the last quarter. Citadel Advisors LLC raised its holdings in shares of Electromed by 15.6% in the 3rd quarter. Citadel Advisors LLC now owns 31,166 shares of the company’s stock valued at $765,000 after buying an additional 4,198 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Electromed by 5.8% in the 3rd quarter. Lazard Asset Management LLC now owns 93,241 shares of the company’s stock valued at $2,289,000 after buying an additional 5,079 shares during the period. Finally, Raymond James Financial Inc. lifted its stake in Electromed by 0.9% during the 3rd quarter. Raymond James Financial Inc. now owns 58,838 shares of the company’s stock worth $1,444,000 after acquiring an additional 507 shares in the last quarter. 40.82% of the stock is currently owned by hedge funds and other 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.