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

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

Several other equities analysts have also recently weighed in on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $38.00 price target 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 note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to MarketBeat, Electromed currently has a consensus rating of “Buy” and an average target price of $37.50.

Electromed Price Performance

Shares of ELMD stock opened at $36.50 on Wednesday. The business’s 50 day simple moving average is $25.15 and its 200 day simple moving average is $26.32. Electromed has a one year low of $17.73 and a one year high of $37.45. The stock has a market capitalization of $302.04 million, a PE ratio of 48.67 and a beta of 0.39.

Institutional Trading of Electromed

Several hedge funds have recently made changes to their positions in ELMD. Kestra Advisory Services LLC bought a new stake in shares of Electromed in the fourth quarter valued at $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Electromed in the 4th quarter valued at about $43,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Electromed in the 2nd quarter valued at about $83,000. New York State Common Retirement Fund bought a new stake in Electromed in the 2nd quarter valued at about $103,000. Finally, SG Americas Securities LLC bought a new stake in Electromed in the 4th quarter valued at about $114,000. 40.82% of the stock is currently owned by 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.