Electromed (NYSE:ELMD) Stock Rating Lowered by Zacks Research

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

Separately, Roth Mkm reissued a “buy” rating and issued a $36.00 price objective (up from $35.00) on shares of Electromed in a report on Thursday, November 13th. One equities research 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $36.50.

Electromed Stock Up 4.1%

ELMD stock opened at $29.87 on Thursday. Electromed has a 52-week low of $17.73 and a 52-week high of $35.54. The firm has a market cap of $249.12 million, a P/E ratio of 39.83 and a beta of 0.27. The company’s 50-day simple moving average is $28.36 and its 200-day simple moving average is $24.71.

Institutional Investors Weigh In On Electromed

Institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. raised its holdings 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 valued at $1,444,000 after acquiring an additional 507 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Electromed by 0.4% in 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 purchasing an additional 969 shares in the last quarter. Spire Wealth Management raised its stake in Electromed by 22.7% in the 2nd quarter. Spire Wealth Management now owns 5,405 shares of the company’s stock valued at $119,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey acquired a new position in Electromed in the 2nd quarter valued at $32,000. 40.82% of the stock is currently owned by institutional investors and hedge funds.

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.