Zacks Investment Research Lowers RA Medical Systems (RMED) to Sell

Zacks Investment Research downgraded shares of RA Medical Systems (NYSE:RMED) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Ra Medical Systems, Inc. is a commercial-stage medical device company. It develops, manufactures, and markets excimer lasers for use in the treatment of vascular and dermatological diseases. The company’s product pipeline consists of DABRA which is a minimally-invasive excimer laser and disposable catheter system used by physicians as a tool in the endovascular treatment of vascular blockages resulting from lower extremity vascular disease, a form of peripheral artery disease, or above- and below-the-knee. Pharos Excimer Laser is a powerful 308 nm ultraviolet-B excimer laser used by physicians as a tool to treat chronic skin diseases, including psoriasis, vitiligo, atopic dermatitis and leukoderma. Ra Medical Systems, Inc. is based in Carlsbad, California. “

RMED has been the subject of a number of other reports. Cantor Fitzgerald reiterated a buy rating and issued a $11.00 target price on shares of RA Medical Systems in a research note on Tuesday, March 26th. SunTrust Banks reissued a positive rating and issued a $10.00 price target on shares of RA Medical Systems in a research report on Tuesday, March 26th. Finally, Maxim Group dropped their price target on shares of RA Medical Systems to $15.00 and set a buy rating on the stock in a research report on Friday, March 15th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $14.75.

NYSE RMED traded down $0.36 during trading on Wednesday, reaching $4.04. The company’s stock had a trading volume of 104,101 shares, compared to its average volume of 124,715. The company has a current ratio of 11.64, a quick ratio of 11.28 and a debt-to-equity ratio of 0.01. RA Medical Systems has a 1-year low of $3.34 and a 1-year high of $22.00.

RA Medical Systems (NYSE:RMED) last posted its earnings results on Thursday, March 14th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.83). The business had revenue of $1.99 million for the quarter, compared to analysts’ expectations of $2.92 million. As a group, analysts anticipate that RA Medical Systems will post -1.93 EPS for the current fiscal year.

In other news, insider Dean Irwin sold 20,928 shares of RA Medical Systems stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $3.49, for a total value of $73,038.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of RA Medical Systems in the fourth quarter valued at approximately $98,000. Marshall Wace North America L.P. bought a new position in RA Medical Systems during the third quarter worth $268,000. Sit Investment Associates Inc. increased its position in RA Medical Systems by 161.4% during the fourth quarter. Sit Investment Associates Inc. now owns 27,450 shares of the company’s stock worth $218,000 after acquiring an additional 16,950 shares during the period. FNY Investment Advisers LLC bought a new position in RA Medical Systems during the fourth quarter worth $287,000. Finally, Orbimed Advisors LLC increased its position in RA Medical Systems by 16.7% during the fourth quarter. Orbimed Advisors LLC now owns 350,000 shares of the company’s stock worth $2,783,000 after acquiring an additional 50,000 shares during the period. 31.27% of the stock is currently owned by institutional investors.

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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