RA Medical Systems (NYSE:RMED) Downgraded by Piper Jaffray Companies

Piper Jaffray Companies lowered shares of RA Medical Systems (NYSE:RMED) from an overweight rating to a neutral rating in a research note released on Tuesday, BenzingaRatingsTable reports. They currently have $1.50 price objective on the stock, down from their prior price objective of $9.00. Piper Jaffray Companies also issued estimates for RA Medical Systems’ Q2 2019 earnings at ($0.78) EPS, Q3 2019 earnings at ($0.76) EPS, Q4 2019 earnings at ($0.81) EPS, FY2019 earnings at ($3.51) EPS, Q1 2020 earnings at ($0.25) EPS, Q2 2020 earnings at ($0.26) EPS, Q3 2020 earnings at ($0.29) EPS, Q4 2020 earnings at ($0.30) EPS, FY2020 earnings at ($1.10) EPS and FY2021 earnings at ($1.02) EPS.

Several other brokerages also recently commented on RMED. Zacks Investment Research upgraded shares of RA Medical Systems from a sell rating to a hold rating in a research report on Wednesday, July 17th. Maxim Group lowered their price objective on shares of RA Medical Systems to $12.00 and set a buy rating for the company in a research report on Wednesday, May 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $6.38.

Shares of RMED stock opened at $1.80 on Tuesday. RA Medical Systems has a 1 year low of $1.09 and a 1 year high of $22.00. The stock has a market cap of $15.64 million and a P/E ratio of -0.54. The company has a current ratio of 11.89, a quick ratio of 11.45 and a debt-to-equity ratio of 0.06. The stock has a 50 day simple moving average of $2.93 and a 200 day simple moving average of $4.31.

In other RA Medical Systems news, insider Dean Irwin sold 11,800 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $3.27, for a total transaction of $38,586.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey J. Kraws sold 18,021 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $3.08, for a total transaction of $55,504.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,841 shares of company stock valued at $176,959. Company insiders own 25.20% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in shares of RA Medical Systems by 94.2% during the second quarter. BlackRock Inc. now owns 22,438 shares of the company’s stock worth $81,000 after buying an additional 10,883 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of RA Medical Systems during the second quarter worth $45,000. Weil Company Inc. acquired a new position in shares of RA Medical Systems during the second quarter worth $63,000. Meitav Dash Investments Ltd. increased its holdings in shares of RA Medical Systems by 18.8% during the first quarter. Meitav Dash Investments Ltd. now owns 118,260 shares of the company’s stock worth $415,000 after buying an additional 18,741 shares in the last quarter. Finally, Dowling & Yahnke LLC acquired a new position in shares of RA Medical Systems during the second quarter worth $110,000. Institutional investors and hedge funds own 20.13% of the company’s stock.

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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