RA Medical Systems (NYSE:RMED) Trading 22.3% Higher

RA Medical Systems Inc (NYSE:RMED) shot up 22.3% on Wednesday . The stock traded as high as $1.73 and last traded at $1.48, 751,424 shares traded hands during mid-day trading. An increase of 801% from the average session volume of 83,417 shares. The stock had previously closed at $1.21.

Several research firms have recently weighed in on RMED. Zacks Investment Research upgraded RA Medical Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Piper Jaffray Companies downgraded RA Medical Systems from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $9.00 to $1.50 in a research report on Tuesday. Maxim Group decreased their target price on RA Medical Systems to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Finally, Cantor Fitzgerald downgraded RA Medical Systems from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $10.00 to $2.00 in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. RA Medical Systems presently has an average rating of “Hold” and an average target price of $6.38.

The stock has a market cap of $35.26 million and a price-to-earnings ratio of -0.45. The company’s 50-day moving average is $2.99. The company has a current ratio of 11.89, a quick ratio of 11.45 and a debt-to-equity ratio of 0.06.



RA Medical Systems (NYSE:RMED) last posted its quarterly earnings results on Monday, May 13th. The company reported ($1.16) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.78). The company had revenue of $1.75 million during the quarter, compared to analysts’ expectations of $1.22 million. Research analysts anticipate that RA Medical Systems Inc will post -3.69 earnings per share for the current year.

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

Hedge funds have recently bought and sold shares of the business. Millennium Management LLC grew its stake in shares of RA Medical Systems by 411.9% in the fourth quarter. Millennium Management LLC now owns 503,875 shares of the company’s stock valued at $4,006,000 after buying an additional 405,443 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of RA Medical Systems by 30.4% in the fourth quarter. Principal Financial Group Inc. now owns 305,392 shares of the company’s stock valued at $2,428,000 after buying an additional 71,237 shares in the last quarter. Wasatch Advisors Inc. boosted its holdings in RA Medical Systems by 16.6% in the first quarter. Wasatch Advisors Inc. now owns 239,944 shares of the company’s stock valued at $816,000 after purchasing an additional 34,124 shares during the period. Alethea Capital Management LLC boosted its holdings in RA Medical Systems by 134.0% in the first quarter. Alethea Capital Management LLC now owns 206,980 shares of the company’s stock valued at $704,000 after purchasing an additional 118,523 shares during the period. Finally, Meitav Dash Investments Ltd. boosted its holdings 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 valued at $415,000 after purchasing an additional 18,741 shares during the period. 20.13% of the stock is owned by institutional investors.

About RA Medical Systems (NYSE:RMED)

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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