RA Medical Systems (NYSE:RMED) Cut to Hold at ValuEngine

ValuEngine cut shares of RA Medical Systems (NYSE:RMED) from a buy rating to a hold rating in a report released on Thursday, ValuEngine reports.

A number of other research firms have also recently commented on RMED. Piper Sandler decreased their price target on RA Medical Systems from $1.50 to $1.00 and set a neutral rating on the stock in a research note on Thursday, May 14th. Maxim Group restated a buy rating and set a $2.00 price target on shares of RA Medical Systems in a research note on Friday, June 12th. Finally, Zacks Investment Research cut RA Medical Systems from a buy rating to a hold rating in a research note on Wednesday, June 3rd. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $1.45.

RMED remained flat at $$0.29 during trading hours on Thursday. The company had a trading volume of 8,312,335 shares, compared to its average volume of 2,964,557. RA Medical Systems has a 12-month low of $0.28 and a 12-month high of $2.96. The business has a fifty day moving average of $0.48 and a 200-day moving average of $1.11. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.30 and a current ratio of 4.76.

RA Medical Systems (NYSE:RMED) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.22). RA Medical Systems had a negative return on equity of 130.46% and a negative net margin of 732.37%. The firm had revenue of $1.37 million for the quarter, compared to analyst estimates of $1.51 million. As a group, equities research analysts forecast that RA Medical Systems will post -1.06 earnings per share for the current fiscal year.

In other news, Director Richard Mejia, Jr. acquired 50,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were bought at an average price of $0.60 per share, with a total value of $30,000.00. Following the completion of the acquisition, the director now owns 88,085 shares in the company, valued at approximately $52,851. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have acquired 110,000 shares of company stock worth $60,100. Corporate insiders own 25.20% of the company’s stock.

An institutional investor recently raised its position in RA Medical Systems stock. Bourne Lent Asset Management Inc. boosted its position in RA Medical Systems Inc (NYSE:RMED) by 18.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 211,260 shares of the company’s stock after acquiring an additional 32,500 shares during the period. Bourne Lent Asset Management Inc. owned about 1.53% of RA Medical Systems worth $230,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 14.43% of the company’s stock.

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.

Further Reading: What causes a recession?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for RA Medical Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RA Medical Systems and related companies with MarketBeat.com's FREE daily email newsletter.