Zacks Investment Research Lowers Electromed (NYSEAMERICAN:ELMD) to Hold

Electromed (NYSEAMERICAN:ELMD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Electromed, Inc. manufactures, markets and sells products that provide airway clearance therapy to patients with compromised pulmonary function. The Company is the designer, manufacturer and worldwide provider of the SmartVest┬« Airway Clearance System and related products. The patented system uses High Frequency Chest Wall Oscillation (HFCWO), an alternative to Chest Physiotherapy (CPT), to deliver airway clearance treatment. The Company manufactures its products for use by chronically-ill patients who face health risks due to pneumonia and mucus accumulation in the lungs, particularly patients with cystic fibrosis, chronic obstructive pulmonary disease (COPD), bronchiectasis, and neuro-muscular disorders. The purpose of its primary product, the SmartVest System, is to loosen, mobilize, and release respiratory secretions from the lungs. The Company’s products are primarily used in the home health care market and in hospitals. Electromed, Inc. is headquartered in New Prague, Minnesota. “

Separately, Colliers Securities reaffirmed a “buy” rating and set a $20.00 price objective on shares of Electromed in a research report on Wednesday, November 10th.

Shares of Electromed stock traded down $0.03 on Thursday, hitting $11.95. The stock had a trading volume of 6,738 shares, compared to its average volume of 48,662. Electromed has a twelve month low of $8.98 and a twelve month high of $13.85. The company has a market capitalization of $102.41 million, a P/E ratio of 47.80, a P/E/G ratio of 2.91 and a beta of 0.64.

Electromed (NYSEAMERICAN:ELMD) last released its earnings results on Tuesday, November 9th. The medical equipment provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $10.00 million for the quarter, compared to analyst estimates of $9.00 million. Electromed had a net margin of 6.00% and a return on equity of 6.94%. As a group, equities research analysts predict that Electromed will post 0.41 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Millennium Management LLC bought a new position in shares of Electromed in the 2nd quarter worth $1,231,000. Royal Bank of Canada lifted its holdings in shares of Electromed by 15,334.4% in the 2nd quarter. Royal Bank of Canada now owns 87,513 shares of the medical equipment provider’s stock worth $988,000 after purchasing an additional 86,946 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its holdings in shares of Electromed by 16.0% in the 2nd quarter. Punch & Associates Investment Management Inc. now owns 421,735 shares of the medical equipment provider’s stock worth $4,761,000 after purchasing an additional 58,310 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Electromed by 23.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 260,528 shares of the medical equipment provider’s stock worth $2,941,000 after purchasing an additional 48,951 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Electromed by 322.3% in the 2nd quarter. Morgan Stanley now owns 46,177 shares of the medical equipment provider’s stock worth $522,000 after purchasing an additional 35,242 shares in the last quarter. 40.13% of the stock is owned by institutional investors.

About Electromed

Electromed, Inc engages in the development, manufacture, marketing, and sale of medical equipment. The firm’s products include SmartVest SQL System and SmartVest Connect. It focuses on building market awareness, and acceptance of its products and services with physicians, clinicians, patients, and third-party payers.

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