RA Medical Systems (RMED) Releases Quarterly Earnings Results, Misses Expectations By $0.78 EPS

RA Medical Systems (NYSE:RMED) posted its quarterly earnings data on Monday. The company reported ($1.16) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.78), Morningstar.com reports. The firm had revenue of $1.75 million during the quarter, compared to the consensus estimate of $1.22 million.

RMED opened at $4.18 on Wednesday. RA Medical Systems has a 1-year low of $3.34 and a 1-year high of $22.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.28 and a current ratio of 11.64.

Several research firms have recently weighed in on RMED. Zacks Investment Research raised RA Medical Systems from a “sell” rating to a “hold” rating in a research report on Tuesday. Cantor Fitzgerald reissued a “buy” rating and issued a $11.00 price objective on shares of RA Medical Systems in a research report on Tuesday, March 26th. Maxim Group reduced their price objective on RA Medical Systems to $15.00 and set a “buy” rating for the company in a research report on Friday, March 15th. Finally, SunTrust Banks reissued a “positive” rating and issued a $10.00 price objective on shares of RA Medical Systems in a research report on Tuesday, March 26th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $14.75.

In related news, insider Dean Irwin sold 21,982 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $3.82, for a total value of $83,971.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new position in RA Medical Systems in the fourth quarter worth $98,000. Neuberger Berman Group LLC lifted its position in RA Medical Systems by 5.2% in the first quarter. Neuberger Berman Group LLC now owns 256,760 shares of the company’s stock worth $873,000 after purchasing an additional 12,661 shares during the period. Marshall Wace North America L.P. bought a new position in RA Medical Systems in the third quarter worth $268,000. Sit Investment Associates Inc. lifted its position in RA Medical Systems by 161.4% in the fourth quarter. Sit Investment Associates Inc. now owns 27,450 shares of the company’s stock worth $218,000 after purchasing an additional 16,950 shares during the period. Finally, Meitav Dash Investments Ltd. lifted its position in RA Medical Systems by 18.8% in the first quarter. Meitav Dash Investments Ltd. now owns 118,260 shares of the company’s stock worth $415,000 after purchasing an additional 18,741 shares during the period. 31.93% of the stock is owned by hedge funds and other institutional investors.

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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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