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

Zacks Investment Research lowered shares of Edap Tms (NASDAQ:EDAP) from a buy rating to a hold rating in a report released on Wednesday, 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. “

A number of other research analysts have also recently commented on EDAP. ValuEngine cut Edap Tms from a hold rating to a sell rating in a research note on Wednesday. HC Wainwright reaffirmed a buy rating and set a $6.50 price target on shares of Edap Tms in a report on Friday, November 15th.

NASDAQ:EDAP traded up $0.04 on Wednesday, reaching $4.17. The stock had a trading volume of 1,065 shares, compared to its average volume of 95,533. The company has a 50-day moving average of $4.56 and a 200 day moving average of $4.00. The stock has a market cap of $118.90 million, a P/E ratio of 207.49 and a beta of 1.62. Edap Tms has a 12-month low of $2.40 and a 12-month high of $5.42.

Edap Tms (NASDAQ:EDAP) last issued its quarterly earnings data on Wednesday, November 13th. The medical equipment provider reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01). The firm had revenue of $11.35 million for the quarter, compared to analyst estimates of $13.15 million. Edap Tms had a net margin of 7.61% and a return on equity of 40.29%. As a group, equities analysts predict that Edap Tms will post 0.14 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. grew its holdings in Edap Tms by 168.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 7,332 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 4,600 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Edap Tms by 25.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 32,540 shares of the medical equipment provider’s stock worth $146,000 after acquiring an additional 6,500 shares in the last quarter. Susquehanna International Group LLP boosted its position in shares of Edap Tms by 762.9% during the 2nd quarter. Susquehanna International Group LLP now owns 205,178 shares of the medical equipment provider’s stock worth $556,000 after acquiring an additional 181,401 shares in the last quarter. Morgan Stanley boosted its position in shares of Edap Tms by 222.7% during the 2nd quarter. Morgan Stanley now owns 267,408 shares of the medical equipment provider’s stock worth $722,000 after acquiring an additional 184,539 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Edap Tms during the 2nd quarter worth approximately $282,000. Hedge funds and other institutional investors own 12.04% of the company’s stock.

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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