Piper Sandler reiterated their hold rating on shares of RA Medical Systems (NYSE:RMED) in a report released on Tuesday morning, TipRanks reports. The brokerage currently has a $1.50 price target on the stock.
A number of other research firms also recently commented on RMED. Maxim Group reaffirmed a buy rating and set a $3.00 price objective on shares of RA Medical Systems in a research note on Friday, December 6th. Zacks Investment Research raised shares of RA Medical Systems from a sell rating to a hold rating in a research note on Saturday, January 18th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. RA Medical Systems presently has an average rating of Hold and a consensus target price of $3.60.
NYSE RMED opened at $1.91 on Tuesday. RA Medical Systems has a 12 month low of $0.69 and a 12 month high of $8.68. The company has a 50-day moving average of $1.24 and a 200-day moving average of $1.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 5.69 and a quick ratio of 5.37. The company has a market cap of $24.81 million, a P/E ratio of -0.57 and a beta of 2.07.
RA Medical Systems (NYSE:RMED) last posted its quarterly earnings data on Friday, November 29th. The company reported ($1.30) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.80). RA Medical Systems had a negative net margin of 797.11% and a negative return on equity of 112.93%. The company had revenue of $1.91 million for the quarter, compared to analyst estimates of $2.08 million. As a group, equities research analysts anticipate that RA Medical Systems will post -4.78 EPS for the current year.
In related news, major shareholder Martin Burstein sold 28,988 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $1.06, for a total transaction of $30,727.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 71,682 shares of company stock valued at $78,871. Corporate insiders own 25.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in RA Medical Systems by 94.2% in the 2nd 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. FNY Investment Advisers LLC purchased a new position in RA Medical Systems in the 3rd quarter worth approximately $58,000. Finally, Bourne Lent Asset Management Inc. purchased a new position in RA Medical Systems in the 3rd quarter worth approximately $70,000. Hedge funds and other institutional investors own 17.17% of the company’s stock.
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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