RA Medical Systems Inc (NYSE:RMED) has earned an average broker rating score of 1.00 (Strong Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. Four research analysts have rated the stock with a strong buy rating.
Brokers have set a one year consensus target price of $15.25 for the company and are expecting that the company will post ($0.23) EPS for the current quarter, according to Zacks. Zacks has also assigned RA Medical Systems an industry rank of 100 out of 255 based on the ratings given to related companies.
RMED has been the topic of a number of research reports. Zacks Investment Research raised RA Medical Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, January 1st. Maxim Group dropped their price objective on RA Medical Systems to $15.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Finally, Cantor Fitzgerald dropped their price objective on RA Medical Systems from $21.00 to $11.00 and set an “overweight” rating on the stock in a research note on Monday.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC grew its stake in RA Medical Systems by 411.9% in the fourth quarter. Millennium Management LLC now owns 503,875 shares of the company’s stock valued at $4,006,000 after purchasing an additional 405,443 shares in the last quarter. Orbimed Advisors LLC grew its stake in RA Medical Systems by 16.7% in the fourth quarter. Orbimed Advisors LLC now owns 350,000 shares of the company’s stock valued at $2,783,000 after purchasing an additional 50,000 shares in the last quarter. Principal Financial Group Inc. grew its stake in RA Medical Systems by 30.4% in the fourth 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. BlackRock Inc. purchased a new position in RA Medical Systems in the fourth quarter valued at about $98,000. Finally, Kornitzer Capital Management Inc. KS grew its stake in RA Medical Systems by 208.4% in the fourth 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. Hedge funds and other institutional investors own 31.87% of the company’s stock.
RA Medical Systems stock traded up $0.02 during mid-day trading on Friday, hitting $3.89. 8,441 shares of the company’s stock traded hands, compared to its average volume of 82,388. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.64 and a quick ratio of 0.95. The company has a market capitalization of $50.76 million and a P/E ratio of -1.16. RA Medical Systems has a one year low of $3.76 and a one year high of $22.00.
RA Medical Systems (NYSE:RMED) last announced its earnings results on Thursday, March 14th. The company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.83). The business had revenue of $1.99 million during the quarter, compared to analysts’ expectations of $2.92 million. On average, research analysts expect that RA Medical Systems will post -1.15 earnings per share for the current fiscal year.
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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