RA Medical Systems (RMED) Rating Increased to Hold at Zacks Investment Research

RA Medical Systems (NYSE:RMED) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “Ra Medical Systems, Inc. is a commercial-stage medical device company. It develops, manufactures, and markets excimer lasers for use in the treatment of vascular and dermatological diseases. The company’s product pipeline consists of DABRA which is a minimally-invasive excimer laser and disposable catheter system used by physicians as a tool in the endovascular treatment of vascular blockages resulting from lower extremity vascular disease, a form of peripheral artery disease, or above- and below-the-knee. Pharos Excimer Laser is a powerful 308 nm ultraviolet-B excimer laser used by physicians as a tool to treat chronic skin diseases, including psoriasis, vitiligo, atopic dermatitis and leukoderma. Ra Medical Systems, Inc. is based in Carlsbad, California. “

RMED has been the subject of a number of other research reports. Maxim Group initiated coverage on shares of RA Medical Systems in a report on Friday, November 2nd. They set a “buy” rating and a $23.00 target price for the company. Piper Jaffray Companies initiated coverage on shares of RA Medical Systems in a report on Monday, October 22nd. They set an “overweight” rating and a $23.00 target price for the company. Cantor Fitzgerald set a $21.00 target price on shares of RA Medical Systems and gave the stock a “buy” rating in a report on Wednesday, November 14th. Finally, SunTrust Banks initiated coverage on shares of RA Medical Systems in a report on Monday, October 22nd. They set a “buy” rating and a $16.00 target price for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. RA Medical Systems has an average rating of “Buy” and a consensus price target of $20.75.

NYSE:RMED opened at $9.70 on Thursday. RA Medical Systems has a fifty-two week low of $7.15 and a fifty-two week high of $22.00.

RA Medical Systems (NYSE:RMED) last posted its quarterly earnings data on Tuesday, November 13th. The company reported ($0.59) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.36) by ($0.23). The business had revenue of $2.06 million for the quarter, compared to the consensus estimate of $2.19 million. Research analysts expect that RA Medical Systems will post -2.26 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. purchased a new stake in shares of RA Medical Systems in the third quarter valued at about $120,000. Lisanti Capital Growth LLC purchased a new stake in shares of RA Medical Systems in the third quarter valued at about $1,078,000. Wasatch Advisors Inc. purchased a new stake in shares of RA Medical Systems in the third quarter valued at about $1,976,000. Janus Henderson Group PLC purchased a new stake in shares of RA Medical Systems in the third quarter valued at about $3,185,000. Finally, FMR LLC purchased a new stake in shares of RA Medical Systems in the third quarter valued at about $1,343,000. 31.64% of the stock is owned by hedge funds and other institutional investors.

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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