Electromed (NYSE:ELMD) Shares Up 0.9% – Here’s What Happened

Electromed, Inc. (NYSE:ELMD) shares traded up 0.9% during trading on Monday . The stock traded as high as $29.08 and last traded at $28.85. 34,949 shares traded hands during trading, a decline of 20% from the average session volume of 43,422 shares. The stock had previously closed at $28.58.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ELMD. Roth Mkm restated a “buy” rating and issued a $36.00 price objective (up previously from $35.00) on shares of Electromed in a report on Thursday, November 13th. Zacks Research raised Electromed from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 31st. Two investment analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Strong Buy” and a consensus price target of $36.50.

Electromed Price Performance

The business has a 50-day simple moving average of $28.06 and a two-hundred day simple moving average of $24.51. The stock has a market cap of $240.61 million, a price-to-earnings ratio of 38.47 and a beta of 0.27.

Institutional Investors Weigh In On Electromed

A number of hedge funds and other institutional investors have recently made changes to their positions in ELMD. Raymond James Financial Inc. lifted its position in shares of Electromed by 0.9% during the 3rd quarter. Raymond James Financial Inc. now owns 58,838 shares of the company’s stock valued at $1,444,000 after acquiring an additional 507 shares during the period. Dimensional Fund Advisors LP raised its stake in Electromed by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 190,103 shares of the company’s stock valued at $4,667,000 after purchasing an additional 696 shares in the last quarter. American Century Companies Inc. lifted its position in Electromed by 3.1% during the second quarter. American Century Companies Inc. now owns 32,031 shares of the company’s stock worth $704,000 after purchasing an additional 969 shares during the period. Spire Wealth Management lifted its position in Electromed by 22.7% during the second quarter. Spire Wealth Management now owns 5,405 shares of the company’s stock worth $119,000 after purchasing an additional 1,000 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey acquired a new stake in Electromed during the second quarter worth about $32,000. 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.