Edap Tms (NASDAQ:EDAP) Downgraded to Neutral Rating by Piper Sandler

Piper Sandler cut shares of Edap Tms (NASDAQ:EDAP) from an overweight rating to a neutral rating in a research report report published on Thursday, Marketbeat Ratings reports.

A number of other research firms have also recently weighed in on EDAP. StockNews.com started coverage on shares of Edap Tms in a report on Thursday. They issued a “hold” rating on the stock. HC Wainwright restated a “buy” rating and issued a $19.00 target price on shares of Edap Tms in a research note on Friday, March 28th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $2.00 price target (down from $8.00) on shares of Edap Tms in a report on Friday, April 4th.

Edap Tms Price Performance

Shares of EDAP opened at $1.76 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.46 and a current ratio of 2.18. The company has a 50 day moving average price of $1.93 and a 200-day moving average price of $2.26. Edap Tms has a fifty-two week low of $1.26 and a fifty-two week high of $7.00. The stock has a market capitalization of $65.30 million, a PE ratio of -2.71 and a beta of 0.13.

Edap Tms (NASDAQ:EDAP) last posted its earnings results on Thursday, May 15th. The medical equipment provider reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). Edap Tms had a negative return on equity of 44.21% and a negative net margin of 34.92%. Equities analysts predict that Edap Tms will post -0.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Edap Tms

A number of large investors have recently made changes to their positions in EDAP. Illumine Investment Management LLC purchased a new stake in Edap Tms during the 4th quarter valued at about $50,000. Jane Street Group LLC boosted its position in Edap Tms by 174.7% in the fourth quarter. Jane Street Group LLC now owns 31,361 shares of the medical equipment provider’s stock valued at $69,000 after buying an additional 73,361 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Edap Tms by 111.5% in the fourth 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. Millennium Management LLC increased its holdings in Edap Tms by 218.5% in the 4th quarter. Millennium Management LLC now owns 48,915 shares of the medical equipment provider’s stock worth $108,000 after buying an additional 33,558 shares during the period. Finally, Cetera Investment Advisers raised its position in Edap Tms by 33.9% during the 1st quarter. Cetera Investment Advisers now owns 75,000 shares of the medical equipment provider’s stock worth $147,000 after buying an additional 19,000 shares during the last quarter. 62.74% of the stock is 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.