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

Zacks Research upgraded shares of Electromed (NYSE:ELMD) from a hold rating to a strong-buy rating in a research report released on Wednesday,Zacks.com reports.

Several other research analysts have also commented on ELMD. Roth Mkm reissued a “buy” rating and issued a $38.00 price objective on shares of Electromed in a research report on Wednesday, February 11th. B. Riley Financial raised their price objective on Electromed from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. Based on data from MarketBeat, Electromed currently has an average rating of “Buy” and a consensus price target of $37.50.

Electromed Price Performance

NYSE:ELMD opened at $36.50 on Wednesday. The business’s 50-day moving average is $25.15 and its two-hundred day moving average is $26.32. Electromed has a 12 month low of $17.73 and a 12 month high of $37.45. The firm has a market capitalization of $302.04 million, a PE ratio of 48.67 and a beta of 0.39.

Institutional Trading of Electromed

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. increased its position in shares of Electromed by 0.9% during the third 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 during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Electromed by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 190,103 shares of the company’s stock worth $4,667,000 after acquiring an additional 696 shares during the last quarter. American Century Companies Inc. increased its position in shares of Electromed by 3.1% during the second quarter. American Century Companies Inc. now owns 32,031 shares of the company’s stock worth $704,000 after acquiring an additional 969 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Electromed during the fourth quarter worth about $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Electromed during the fourth quarter worth about $43,000. 40.82% of the stock is owned by hedge funds and other institutional investors.

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.