Edap Tms (NASDAQ:EDAP) Downgraded by Zacks Investment Research to “Hold”

Edap Tms (NASDAQ:EDAP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “EDAP TMS S.A. develops, produces, markets and distributes minimally invasive medical devices, primarily for the treatment of urological diseases. They currently produce and market devices for treatment of benign prostate hyperplasia and urinary tract stones. They are also developing a third range of products for minimally invasive destruction of certain types of tumors. “

EDAP has been the topic of several other research reports. HC Wainwright set a $7.00 price objective on Edap Tms and gave the stock a “buy” rating in a report on Friday, August 30th. ValuEngine downgraded Edap Tms from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd.

NASDAQ:EDAP traded down $0.05 during trading hours on Tuesday, hitting $4.62. 71,700 shares of the stock were exchanged, compared to its average volume of 181,362. The company’s 50 day moving average is $4.64 and its two-hundred day moving average is $3.65. Edap Tms has a twelve month low of $1.35 and a twelve month high of $5.42. The company has a market capitalization of $127.88 million, a P/E ratio of 231.00 and a beta of 1.84.

Edap Tms (NASDAQ:EDAP) last posted its quarterly earnings data on Wednesday, August 28th. The medical equipment provider reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. Edap Tms had a return on equity of 23.31% and a net margin of 4.57%. The firm had revenue of $14.04 million for the quarter, compared to the consensus estimate of $11.92 million. On average, research analysts anticipate that Edap Tms will post 0.18 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in shares of Edap Tms in the 2nd quarter valued at $607,000. Fosun International Ltd lifted its stake in shares of Edap Tms by 9.4% in the 2nd quarter. Fosun International Ltd now owns 397,568 shares of the medical equipment provider’s stock valued at $1,145,000 after purchasing an additional 34,083 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of Edap Tms in the 2nd quarter valued at $282,000. Morgan Stanley lifted its stake in shares of Edap Tms by 222.7% in the 2nd quarter. Morgan Stanley now owns 267,408 shares of the medical equipment provider’s stock valued at $722,000 after purchasing an additional 184,539 shares during the period. Finally, Susquehanna International Group LLP lifted its stake in shares of Edap Tms by 762.9% in the 2nd quarter. Susquehanna International Group LLP now owns 205,178 shares of the medical equipment provider’s stock valued at $556,000 after purchasing an additional 181,401 shares during the period. 13.27% of the stock is currently owned by institutional investors.

About Edap Tms

EDAP TMS SA, together with its subsidiaries, develops, produces, markets, distributes, and maintains a portfolio of minimally-invasive medical devices for the treatment of urological diseases worldwide. The company operates in two divisions: High Intensity Focused Ultrasound (HIFU), and Urology Devices and Services (UDS).

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