According to Zacks, “Ra Medical Systems, Inc. is a commercial-stage medical device company. It develops, manufactures, and markets excimer lasers for use in the treatment of vascular and dermatological diseases. The company’s product pipeline consists of DABRA which is a minimally-invasive excimer laser and disposable catheter system used by physicians as a tool in the endovascular treatment of vascular blockages resulting from lower extremity vascular disease, a form of peripheral artery disease, or above- and below-the-knee. Pharos Excimer Laser is a powerful 308 nm ultraviolet-B excimer laser used by physicians as a tool to treat chronic skin diseases, including psoriasis, vitiligo, atopic dermatitis and leukoderma. Ra Medical Systems, Inc. is based in Carlsbad, California. “
Several other research firms also recently commented on RMED. Maxim Group dropped their target price on RA Medical Systems to $15.00 and set a buy rating on the stock in a report on Friday, March 15th. Cantor Fitzgerald lowered their price target on RA Medical Systems from $21.00 to $11.00 and set an overweight rating on the stock in a report on Monday, March 18th. Finally, SunTrust Banks reaffirmed a positive rating and set a $10.00 price target on shares of RA Medical Systems in a report on Tuesday, March 26th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $14.75.
RA Medical Systems stock opened at $4.05 on Tuesday. RA Medical Systems has a 1 year low of $3.34 and a 1 year high of $22.00. The company has a current ratio of 11.64, a quick ratio of 11.28 and a debt-to-equity ratio of 0.01.
RA Medical Systems (NYSE:RMED) last posted its earnings results on Thursday, March 14th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.83). The firm had revenue of $1.99 million during the quarter, compared to analysts’ expectations of $2.92 million. As a group, sell-side analysts predict that RA Medical Systems will post -1.93 EPS for the current fiscal year.
In other news, insider Dean Irwin sold 20,928 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $3.49, for a total value of $73,038.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
A number of institutional investors and hedge funds have recently modified their holdings of RMED. Millennium Management LLC raised its stake in shares of RA Medical Systems by 411.9% during the 4th quarter. Millennium Management LLC now owns 503,875 shares of the company’s stock valued at $4,006,000 after buying an additional 405,443 shares during the last quarter. Alethea Capital Management LLC increased its stake in shares of RA Medical Systems by 134.0% in the 1st quarter. Alethea Capital Management LLC now owns 206,980 shares of the company’s stock valued at $704,000 after purchasing an additional 118,523 shares in the last quarter. FMR LLC purchased a new position in shares of RA Medical Systems in the 3rd quarter valued at about $1,343,000. Principal Financial Group Inc. increased its stake in shares of RA Medical Systems by 30.4% in the 4th quarter. Principal Financial Group Inc. now owns 305,392 shares of the company’s stock valued at $2,428,000 after purchasing an additional 71,237 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS increased its stake in shares of RA Medical Systems by 208.4% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 77,100 shares of the company’s stock valued at $613,000 after purchasing an additional 52,100 shares in the last quarter. 31.00% of the stock is owned by institutional investors.
About RA Medical Systems
Ra Medical Systems, Inc, a commercial-stage medical device company, develops, manufactures, and markets excimer lasers for use in the treatment of vascular and dermatological diseases. The company offers DABRA (destruction of arteriosclerotic blockages by laser radiation ablation), a minimally-invasive excimer laser and disposable catheter system that is used by physicians in the endovascular treatment of vascular blockages resulting from lower extremity vascular disease.
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