RA Medical Systems (NYSE:RMED) Releases Quarterly Earnings Results, Misses Estimates By $0.80 EPS

RA Medical Systems (NYSE:RMED) issued its quarterly earnings results on Friday. The company reported ($1.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.80), MarketWatch Earnings reports. The company had revenue of $1.91 million for the quarter, compared to the consensus estimate of $2.08 million.

Shares of RA Medical Systems stock traded down $0.16 during trading on Friday, hitting $1.27. The company’s stock had a trading volume of 32,872 shares, compared to its average volume of 26,738. The company has a debt-to-equity ratio of 0.06, a quick ratio of 11.45 and a current ratio of 11.89. The company has a fifty day simple moving average of $1.45 and a two-hundred day simple moving average of $2.36. The company has a market capitalization of $18.75 million, a PE ratio of -0.38 and a beta of 2.14. RA Medical Systems has a 52 week low of $1.06 and a 52 week high of $10.43.

Several research analysts recently issued reports on RMED shares. Cantor Fitzgerald lowered shares of RA Medical Systems from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $10.00 to $2.00 in a research note on Tuesday, August 13th. Piper Jaffray Companies lowered shares of RA Medical Systems from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $9.00 to $1.50 in a research note on Tuesday, August 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $6.38.

About RA Medical Systems

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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