Electromed (NYSEAMERICAN:ELMD) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Electromed (NYSEAMERICAN:ELMD) from a buy rating to a hold rating in a research report report published on Tuesday morning, Zacks.com reports.

According to Zacks, “Electromed, Inc. manufactures, markets and sells products that provide airway clearance therapy to patients with compromised pulmonary function. The Company is the designer, manufacturer and worldwide provider of the SmartVest┬« Airway Clearance System and related products. The patented system uses High Frequency Chest Wall Oscillation (HFCWO), an alternative to Chest Physiotherapy (CPT), to deliver airway clearance treatment. The Company manufactures its products for use by chronically-ill patients who face health risks due to pneumonia and mucus accumulation in the lungs, particularly patients with cystic fibrosis, chronic obstructive pulmonary disease (COPD), bronchiectasis, and neuro-muscular disorders. The purpose of its primary product, the SmartVest System, is to loosen, mobilize, and release respiratory secretions from the lungs. The Company’s products are primarily used in the home health care market and in hospitals. Electromed, Inc. is headquartered in New Prague, Minnesota. “

Separately, Colliers Securities restated a buy rating and set a $20.00 target price on shares of Electromed in a research report on Wednesday, November 10th.

Shares of NYSEAMERICAN ELMD opened at $12.71 on Tuesday. Electromed has a twelve month low of $8.98 and a twelve month high of $13.85. The company has a market capitalization of $108.92 million, a P/E ratio of 50.84, a PEG ratio of 4.12 and a beta of 0.65.

Electromed (NYSEAMERICAN:ELMD) last issued its quarterly earnings data on Tuesday, November 9th. The medical equipment provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $10.00 million for the quarter, compared to the consensus estimate of $9.00 million. Electromed had a net margin of 6.00% and a return on equity of 6.94%. As a group, analysts anticipate that Electromed will post 0.31 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. O Shaughnessy Asset Management LLC grew its position in Electromed by 1,255.7% during the third quarter. O Shaughnessy Asset Management LLC now owns 8,934 shares of the medical equipment provider’s stock valued at $97,000 after buying an additional 8,275 shares during the period. Susquehanna International Group LLP boosted its position in Electromed by 97.3% during the second quarter. Susquehanna International Group LLP now owns 10,850 shares of the medical equipment provider’s stock worth $122,000 after acquiring an additional 5,350 shares during the last quarter. Morgan Dempsey Capital Management LLC boosted its position in Electromed by 9.8% during the third quarter. Morgan Dempsey Capital Management LLC now owns 11,753 shares of the medical equipment provider’s stock worth $127,000 after acquiring an additional 1,051 shares during the last quarter. WINTON GROUP Ltd acquired a new position in Electromed during the third quarter worth about $143,000. Finally, Man Group plc raised its stake in Electromed by 99.0% during the third quarter. Man Group plc now owns 23,262 shares of the medical equipment provider’s stock worth $252,000 after purchasing an additional 11,572 shares during the period. 39.67% of the stock is owned by institutional investors and hedge funds.

About Electromed

Electromed, Inc engages in the development, manufacture, marketing, and sale of medical equipment. The firm’s products include SmartVest SQL System and SmartVest Connect. It focuses on building market awareness, and acceptance of its products and services with physicians, clinicians, patients, and third-party payers.

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