B. Riley Initiates Coverage on Electromed with a Buy Rating

Analysts at B. Riley have begun covering the stock of Electromed (NYSE:ELMD) as noted in a recent research report. On Thursday, they issued a recommendation with a "buy" rating for the company and established a price target of $38.00. This target price indicates a potential upside of approximately 29.43% based on the stock's current trading price.

In a separate report, StockNews.com downgraded Electromed from a "strong-buy" rating to a "buy" rating earlier this week.

Electromed's Stock Performance

Electromed's stock opened at $29.36 on the day the coverage was announced. Over the past year, the stock has fluctuated significantly, reaching a low of $13.74 and a high of $35.56. The company boasts a market capitalization of $251.32 million, with a price-to-earnings (PE) ratio of 39.15 and a beta of 0.33. The stock's 50-day moving average stands at $31.40, whereas its 200-day moving average is $25.15.

Recent Insider Activity at Electromed

In related news, Director Kathleen Skarvan sold a total of 38,954 shares of Electromed's stock in a transaction executed on February 18. The shares were sold at an average price of $29.28, totaling approximately $1,140,573. Following this sale, Skarvan currently owns 32,622 shares, valued at about $955,172. This move represented a decrease of 54.42% in her stake. The details of this transaction have been filed with the SEC and can be found via their official website.

Furthermore, Director Andrew Summers also sold shares, offloading 17,463 shares at an average price of $30.09, amounting to approximately $525,461.67. After this sale, he maintains ownership of 189,838 shares valued at around $5,712,225.42, resulting in an 8.42% decrease in his ownership. In total, insiders have sold 77,788 shares worth about $2,326,350 in the last three months, representing 14.00% of the stock owned by insiders.

Institutional Investors' Perspective on Electromed

Several institutional investors have been active in their dealings with Electromed. For instance, Russell Investments Group Ltd added a new position in the fourth quarter, valuing around $37,000. IFP Advisors Inc followed suit with an investment of about $59,000, while Quantbot Technologies LP invested approximately $99,000. Bank of America Corp DE increased its position in Electromed by 179.2% during the same period, now owning 4,004 shares valued at $118,000 after acquiring an additional 2,570 shares. Point72 Asia Singapore Pte. Ltd. also made a new investment in Electromed valued at approximately $119,000. Collectively, institutional investors and hedge funds hold around 40.82% of the company's stock.

Overview of Electromed, Inc.

Electromed, Inc. is engaged in the development, manufacturing, marketing, and sale of airway clearance therapy and related products. Their offerings primarily utilize high-frequency chest wall oscillation (HFCWO) therapy for pulmonary care, targeting patients across various age groups in the United States and internationally. Electromed’s product line includes the SmartVest airway clearance system for individuals with pulmonary function issues such as bronchiectasis and cystic fibrosis. They also provide solutions for neurological conditions like cerebral palsy and ALS. The SmartVest ecosystem consists of several products including the SmartVest SQL System, SmartVest Clearway System, and SmartVest Connect, which integrates wireless technology to facilitate data sharing between patients and healthcare providers during treatment.

Conclusion

With B. Riley's initiation of coverage and bullish outlook on Electromed, investors may want to keep an eye on this stock as it moves forward. However, with mixed opinions from analysts, including a downgrade from StockNews.com, careful consideration is advised.

Electromed, Stocks, Investment