RA Medical Systems (NYSE:RMED) Receives Buy Rating from Maxim Group

Maxim Group reaffirmed their buy rating on shares of RA Medical Systems (NYSE:RMED) in a research note released on Friday, AnalystRatings.com reports. They currently have a $3.00 price target on the stock.

Several other equities research analysts also recently weighed in on RMED. Cantor Fitzgerald downgraded shares of RA Medical Systems from an overweight rating to a neutral rating and reduced their price target for the company from $10.00 to $2.00 in a research report on Tuesday, August 13th. Zacks Investment Research cut RA Medical Systems from a hold rating to a sell rating in a research report on Thursday. Finally, Piper Jaffray Companies downgraded RA Medical Systems from an overweight rating to a neutral rating and cut their target price for the company from $9.00 to $1.50 in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $4.13.

Shares of RMED stock opened at $1.21 on Friday. The company has a market capitalization of $16.22 million, a price-to-earnings ratio of -0.36 and a beta of 2.09. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.37 and a current ratio of 5.69. RA Medical Systems has a one year low of $1.06 and a one year high of $10.19. The company’s 50-day moving average is $1.46 and its 200 day moving average is $2.26.

RA Medical Systems (NYSE:RMED) last issued its earnings results on Friday, November 29th. The company reported ($1.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.80). The firm had revenue of $1.91 million during the quarter, compared to analysts’ expectations of $2.08 million. RA Medical Systems had a negative return on equity of 112.93% and a negative net margin of 797.11%. As a group, research analysts predict that RA Medical Systems will post -4.52 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in RMED. FNY Investment Advisers LLC bought a new position in RA Medical Systems during the third quarter valued at approximately $58,000. Bourne Lent Asset Management Inc. purchased a new stake in RA Medical Systems in the third quarter worth approximately $70,000. BlackRock Inc. grew its position in RA Medical Systems by 94.2% in the 2nd quarter. BlackRock Inc. now owns 22,438 shares of the company’s stock worth $81,000 after purchasing an additional 10,883 shares during the period. Weil Company Inc. bought a new stake in RA Medical Systems in the 2nd quarter worth approximately $63,000. Finally, Envestnet Asset Management Inc. bought a new stake in RA Medical Systems in the 2nd quarter worth approximately $45,000. 17.48% of the stock is currently owned by institutional investors.

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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