Electromed (NYSE:ELMD) Raised 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 report issued on Wednesday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Roth Mkm reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Electromed in a research note on Wednesday, February 11th. B. Riley Financial boosted their target price on shares of Electromed from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat, Electromed currently has a consensus rating of “Buy” and an average price target of $37.50.

Electromed Trading Up 7.3%

NYSE ELMD opened at $36.50 on Wednesday. Electromed has a 1 year low of $17.73 and a 1 year high of $37.45. The company has a market cap of $302.04 million, a PE ratio of 48.67 and a beta of 0.39. The stock’s 50-day moving average price is $25.15 and its two-hundred day moving average price is $26.32.

Institutional Trading of Electromed

Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its position in Electromed by 717.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 106,005 shares of the company’s stock worth $3,087,000 after buying an additional 93,030 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Electromed during the 3rd quarter valued at $416,000. Invesco Ltd. purchased a new position in shares of Electromed during the 4th quarter valued at $3,017,000. State Street Corp increased its stake in shares of Electromed by 4.2% in the fourth quarter. State Street Corp now owns 98,678 shares of the company’s stock worth $2,874,000 after acquiring an additional 3,981 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Electromed by 10.3% during the third quarter. JPMorgan Chase & Co. now owns 70,983 shares of the company’s stock worth $1,743,000 after acquiring an additional 6,612 shares in the last quarter. 40.82% of the stock is currently owned by institutional investors and hedge funds.

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.