Insider Selling: RA Medical Systems Inc (RMED) Insider Sells 20,928 Shares of Stock

RA Medical Systems Inc (NYSE:RMED) insider Dean Irwin sold 20,928 shares of the stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $3.49, for a total transaction of $73,038.72. The transaction was disclosed in a filing with the SEC, which is available at this link.

RMED stock opened at $4.16 on Wednesday. The company has a market capitalization of $51.86 million and a P/E ratio of -1.25. The company has a quick ratio of 11.28, a current ratio of 11.64 and a debt-to-equity ratio of 0.01. RA Medical Systems Inc has a 52 week low of $3.34 and a 52 week high of $22.00.

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

Institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC increased its position in RA Medical Systems by 411.9% during the 4th quarter. Millennium Management LLC now owns 503,875 shares of the company’s stock worth $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. Neuberger Berman Group LLC purchased a new position in RA Medical Systems in the third quarter valued at about $4,550,000. Finally, Franklin Resources Inc. purchased a new position in RA Medical Systems in the third quarter valued at about $4,550,000. 31.00% of the stock is owned by institutional investors.

RMED has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of RA Medical Systems from a “hold” rating to a “sell” rating in a report on Saturday, April 20th. SunTrust Banks restated a “positive” rating and issued a $10.00 price target on shares of RA Medical Systems in a report on Tuesday, March 26th. Cantor Fitzgerald lowered their price target on shares of RA Medical Systems from $21.00 to $11.00 and set an “overweight” rating on the stock in a report on Monday, March 18th. Finally, Maxim Group lowered their target price on shares of RA Medical Systems to $15.00 and set a “buy” rating for the company in a research note on Friday, March 15th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. RA Medical Systems currently has an average rating of “Buy” and a consensus price target of $14.75.

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RA Medical Systems Company Profile

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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