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

Electromed (NYSE:ELMD) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other analysts have also issued reports on the company. B. Riley Financial boosted their price objective on Electromed from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday. Roth Mkm reiterated a “buy” rating and set a $38.00 price target on shares of Electromed in a research report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average 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 company’s fifty day simple moving average is $25.15 and its two-hundred day simple moving average is $26.32. Electromed has a 1 year low of $17.73 and a 1 year high of $37.45. The stock has a market capitalization of $302.04 million, a price-to-earnings ratio of 48.67 and a beta of 0.39.

Hedge Funds Weigh In On Electromed

A number of institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC increased its stake in Electromed by 362.7% in the 1st quarter. Millennium Management LLC now owns 194,519 shares of the company’s stock worth $4,641,000 after acquiring an additional 152,480 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Electromed by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 194,042 shares of the company’s stock worth $5,652,000 after purchasing an additional 4,973 shares during the last quarter. Dimensional Fund Advisors LP increased its position 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 purchasing an additional 696 shares during the last quarter. Punch & Associates Investment Management Inc. increased its position in shares of Electromed by 6.6% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 187,020 shares of the company’s stock worth $5,446,000 after purchasing an additional 11,500 shares during the last quarter. Finally, Hunter Associates Investment Management LLC increased its position in shares of Electromed by 25.1% in the first quarter. Hunter Associates Investment Management LLC now owns 150,800 shares of the company’s stock worth $3,529,000 after purchasing an additional 30,250 shares during the last quarter. 40.82% of the stock is currently owned by institutional investors.

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.