Electromed (NYSE:ELMD) Downgraded by StockNews.com to Hold

Electromed (NYSE:ELMDGet Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

Electromed Trading Down 3.2 %

NYSE ELMD traded down $0.33 during mid-day trading on Monday, reaching $10.05. 6,388 shares of the company’s stock traded hands, compared to its average volume of 9,676. Electromed has a 1-year low of $8.80 and a 1-year high of $13.84. The company has a fifty day simple moving average of $10.42 and a 200-day simple moving average of $10.46. The company has a market cap of $86.23 million, a price-to-earnings ratio of 27.16 and a beta of 0.30.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ELMD. Hunter Associates Investment Management LLC lifted its holdings in shares of Electromed by 6.6% in the 3rd quarter. Hunter Associates Investment Management LLC now owns 80,500 shares of the company’s stock worth $837,000 after purchasing an additional 5,000 shares during the last quarter. Punch & Associates Investment Management Inc. lifted its holdings in shares of Electromed by 0.3% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 418,896 shares of the company’s stock worth $4,352,000 after purchasing an additional 1,431 shares during the last quarter. Riverwater Partners LLC lifted its holdings in shares of Electromed by 83.5% in the 3rd quarter. Riverwater Partners LLC now owns 32,684 shares of the company’s stock worth $340,000 after purchasing an additional 14,871 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Electromed by 15.7% in the 2nd quarter. Royal Bank of Canada now owns 150,125 shares of the company’s stock worth $1,608,000 after purchasing an additional 20,358 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Electromed by 3.2% in the 2nd quarter. Renaissance Technologies LLC now owns 55,204 shares of the company’s stock worth $591,000 after purchasing an additional 1,700 shares during the last quarter. Institutional investors and hedge funds own 26.67% of the company’s stock.

About Electromed

(Get Free Report)

Electromed, Inc develops, manufactures, markets, and sells airway clearance therapy and related products that apply high frequency chest wall oscillation (HFCWO) therapy in pulmonary care for patients of various ages in the United States and internationally. The company offers SmartVest airway clearance system; SmartVest SQL System that consists of an inflatable therapy garment, a programmable air pulse generator, and a patented single-hose that delivers air pulses from the generator to the garment; and SmartVest Connect, a wireless technology with personalized HFCWO therapy management portal for patients with compromised pulmonary function.

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