RA Medical Systems (NYSE:RMED)‘s stock had its “buy” rating reaffirmed by equities researchers at Maxim Group in a report issued on Friday, AnalystRatings.com reports. They presently have a $3.00 target price on the stock. Maxim Group’s target price would suggest a potential upside of 146.91% from the stock’s previous close.
Several other equities analysts also recently weighed in on RMED. Cantor Fitzgerald downgraded shares of RA Medical Systems from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $10.00 to $2.00 in a research note on Tuesday, August 13th. Piper Jaffray Companies cut RA Medical Systems from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $9.00 to $1.50 in a research note on Tuesday, August 13th. Finally, Zacks Investment Research cut RA Medical Systems from a “hold” rating to a “sell” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $4.13.
Shares of RA Medical Systems stock traded down $0.09 during mid-day trading on Friday, reaching $1.22. 13,174 shares of the stock traded hands, compared to its average volume of 78,391. The stock has a market capitalization of $16.29 million, a PE ratio of -0.36 and a beta of 2.09. The business has a 50-day moving average of $1.46 and a 200 day moving average of $2.28. RA Medical Systems has a fifty-two week low of $1.06 and a fifty-two week high of $10.19. The company has a quick ratio of 11.45, a current ratio of 11.89 and a debt-to-equity ratio of 0.06.
RA Medical Systems (NYSE:RMED) last issued its quarterly earnings results on Friday, November 29th. The company reported ($1.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.80). The firm had revenue of $1.91 million during the quarter, compared to analysts’ expectations of $2.08 million. On average, equities research analysts expect that RA Medical Systems will post -3.87 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of RA Medical Systems by 94.2% during the second quarter. BlackRock Inc. now owns 22,438 shares of the company’s stock worth $81,000 after acquiring an additional 10,883 shares during the period. Envestnet Asset Management Inc. purchased a new position in RA Medical Systems in the second quarter valued at $45,000. Weil Company Inc. purchased a new position in RA Medical Systems in the second quarter valued at $63,000. FNY Investment Advisers LLC acquired a new position in RA Medical Systems during the 3rd quarter worth $58,000. Finally, Bourne Lent Asset Management Inc. acquired a new position in RA Medical Systems during the 3rd quarter worth $70,000. 18.13% of the stock is currently owned by institutional investors and hedge funds.
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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