Piper Sandler Cuts Edap Tms (NASDAQ:EDAP) Price Target to $4.50

Edap Tms (NASDAQ:EDAP) had its price target reduced by Piper Sandler from $5.00 to $4.50 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the medical equipment provider’s stock.

Other equities research analysts also recently issued reports about the stock. StockNews.com began coverage on shares of Edap Tms in a research report on Friday. They set a “hold” rating for the company. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Edap Tms in a research note on Friday.

Edap Tms Stock Performance

Shares of Edap Tms stock opened at $2.15 on Friday. The firm’s fifty day simple moving average is $2.42 and its 200-day simple moving average is $2.50. Edap Tms has a 12 month low of $1.96 and a 12 month high of $8.50. The stock has a market capitalization of $79.77 million, a price-to-earnings ratio of -3.31 and a beta of 0.37. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.18 and a quick ratio of 1.46.

Edap Tms (NASDAQ:EDAP) last announced its earnings results on Thursday, March 27th. The medical equipment provider reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.06. Edap Tms had a negative return on equity of 44.21% and a negative net margin of 34.92%. The company had revenue of $22.69 million for the quarter, compared to the consensus estimate of $20.83 million. As a group, equities analysts forecast that Edap Tms will post -0.6 earnings per share for the current year.

Hedge Funds Weigh In On Edap Tms

Hedge funds have recently added to or reduced their stakes in the business. Parkman Healthcare Partners LLC purchased a new stake in shares of Edap Tms in the third quarter valued at about $395,000. Jane Street Group LLC raised its position in shares of Edap Tms by 174.7% during the 4th quarter. Jane Street Group LLC now owns 31,361 shares of the medical equipment provider’s stock worth $69,000 after purchasing an additional 73,361 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in Edap Tms by 48.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 160,800 shares of the medical equipment provider’s stock valued at $355,000 after buying an additional 52,500 shares in the last quarter. Millennium Management LLC grew its holdings in Edap Tms by 218.5% during the 4th quarter. Millennium Management LLC now owns 48,915 shares of the medical equipment provider’s stock valued at $108,000 after buying an additional 33,558 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Edap Tms by 111.5% during the 4th quarter. BNP Paribas Financial Markets now owns 48,650 shares of the medical equipment provider’s stock valued at $108,000 after buying an additional 25,650 shares during the last quarter. 62.74% of the stock is currently owned by hedge funds and other institutional investors.

About Edap Tms

EDAP TMS SA is a holding company, which, through its subsidiary, engages in the development, production, and marketing of minimally invasive medical devices for urological diseases. It operates through the High Intensity Focused Ultrasound (HIFU) and Urology Devices and Services (UDS) segments. The HIFU segment develops, manufactures, and markets devices for the minimally invasive ablation of certain types of localized tumors using HIFU technology.