Electromed (NYSEAMERICAN:ELMD) Stock Rating Upgraded by Zacks Investment Research

Electromed (NYSEAMERICAN:ELMD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, 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. “

Shares of NYSEAMERICAN ELMD opened at $15.27 on Tuesday. Electromed has a 52-week low of $5.17 and a 52-week high of $19.73.

Electromed (NYSEAMERICAN:ELMD) last announced its quarterly earnings results on Tuesday, May 12th. The medical equipment provider reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. The company had revenue of $8.74 million during the quarter.

In other Electromed news, Director George H. Winn sold 10,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $15.34, for a total transaction of $153,400.00. Following the sale, the director now directly owns 143,088 shares of the company’s stock, valued at $2,194,969.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

A number of hedge funds and other institutional investors have recently bought and sold shares of ELMD. Renaissance Technologies LLC increased its holdings in shares of Electromed by 73.7% in the fourth quarter. Renaissance Technologies LLC now owns 215,544 shares of the medical equipment provider’s stock valued at $1,864,000 after purchasing an additional 91,420 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Electromed by 25.9% in the fourth quarter. Geode Capital Management LLC now owns 23,277 shares of the medical equipment provider’s stock valued at $201,000 after purchasing an additional 4,794 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Electromed in the first quarter valued at $132,000. Essex Investment Management Co. LLC acquired a new position in shares of Electromed in the first quarter valued at $1,395,000. Finally, Cadence Capital Management LLC acquired a new position in shares of Electromed in the first quarter valued at $999,000.

Electromed Company Profile

Electromed, Inc develops, manufactures, markets, and sells airway clearance therapy and related products in the United States and internationally. The company offers SmartVest airway clearance 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 to patients with compromised pulmonary function; and SmartVest SQL System that provides advanced generator programmability and an enhanced pause feature with save, lock, and restore functionality.

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