Shares of RA Medical Systems Inc (NYSE:RMED) have been given an average broker rating score of 1.00 (Strong Buy) from the four brokers that cover the stock, Zacks Investment Research reports. Four research analysts have rated the stock with a strong buy rating.
Brokers have set a twelve-month consensus target price of $20.75 for the company, according to Zacks. Zacks has also assigned RA Medical Systems an industry rank of 78 out of 255 based on the ratings given to related companies.
RMED has been the topic of several recent analyst reports. Maxim Group reduced their price target on shares of RA Medical Systems to $15.00 and set a “buy” rating on the stock in a research note on Friday. Zacks Investment Research downgraded shares of RA Medical Systems from a “hold” rating to a “sell” rating in a research note on Friday, January 25th.
RA Medical Systems (NYSE:RMED) last released its quarterly earnings data on Thursday, March 14th. The company reported ($1.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.83). The business had revenue of $1.99 million for the quarter, compared to analyst estimates of $2.92 million. Research analysts anticipate that RA Medical Systems will post -2.26 EPS for the current fiscal year.
A number of hedge funds and other institutional investors 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 valued at $4,006,000 after purchasing an additional 405,443 shares during the period. Orbimed Advisors LLC increased its holdings in RA Medical Systems by 16.7% in the 4th 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 in the last quarter. Principal Financial Group Inc. increased its holdings in RA Medical Systems by 30.4% in the 4th quarter. Principal Financial Group Inc. now owns 305,392 shares of the company’s stock worth $2,428,000 after acquiring an additional 71,237 shares in the last quarter. BlackRock Inc. purchased a new stake in RA Medical Systems in the 4th quarter worth $98,000. Finally, Kornitzer Capital Management Inc. KS increased its holdings in RA Medical Systems by 208.4% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 77,100 shares of the company’s stock worth $613,000 after acquiring an additional 52,100 shares in the last quarter. 31.87% of the stock is currently owned by institutional investors and hedge funds.
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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