RA Medical Systems (NYSE:RMED) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Ra Medical Systems, Inc. is a commercial-stage medical device company. It develops, manufactures, and markets excimer lasers for use in the treatment of vascular and dermatological diseases. The company’s product pipeline consists of DABRA which is a minimally-invasive excimer laser and disposable catheter system used by physicians as a tool in the endovascular treatment of vascular blockages resulting from lower extremity vascular disease, a form of peripheral artery disease, or above- and below-the-knee. Pharos Excimer Laser is a powerful 308 nm ultraviolet-B excimer laser used by physicians as a tool to treat chronic skin diseases, including psoriasis, vitiligo, atopic dermatitis and leukoderma. Ra Medical Systems, Inc. is based in Carlsbad, California. “

A number of other research analysts have also recently commented on the stock. Maxim Group cut their price target on shares of RA Medical Systems to $12.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Cantor Fitzgerald reiterated a “buy” rating and set a $11.00 target price on shares of RA Medical Systems in a report on Tuesday, March 26th. Finally, SunTrust Banks reiterated a “positive” rating and set a $10.00 target price on shares of RA Medical Systems in a report on Tuesday, March 26th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $14.00.

NYSE RMED opened at $4.32 on Tuesday. The company has a current ratio of 11.89, a quick ratio of 11.28 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $56.63 million and a PE ratio of -1.29. RA Medical Systems has a 12 month low of $3.34 and a 12 month high of $22.00.

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 Zacks’ consensus estimate of ($0.38) by ($0.78). The firm had revenue of $1.75 million for the quarter, compared to analysts’ expectations of $1.22 million. As a group, equities research analysts anticipate that RA Medical Systems will post -3.69 earnings per share for the current year.

In other RA Medical Systems news, insider Dean Irwin sold 20,928 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $3.49, for a total transaction of $73,038.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

A number of institutional investors have recently modified their holdings of the business. Millennium Management LLC grew its holdings in RA Medical Systems by 411.9% during the 4th quarter. Millennium Management LLC now owns 503,875 shares of the company’s stock worth $4,006,000 after acquiring an additional 405,443 shares in the last quarter. Orbimed Advisors LLC lifted its position in shares of RA Medical Systems by 16.7% during the fourth quarter. Orbimed Advisors LLC now owns 350,000 shares of the company’s stock valued at $2,783,000 after buying an additional 50,000 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of RA Medical Systems by 30.4% during 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 during the last quarter. Neuberger Berman Group LLC lifted its position in shares of RA Medical Systems by 5.2% during the first quarter. Neuberger Berman Group LLC now owns 256,760 shares of the company’s stock valued at $873,000 after buying an additional 12,661 shares during the last quarter. Finally, Wasatch Advisors Inc. lifted its position in shares of RA Medical Systems by 16.6% during the first quarter. Wasatch Advisors Inc. now owns 239,944 shares of the company’s stock valued at $816,000 after buying an additional 34,124 shares during the last quarter. Institutional investors own 31.93% of the company’s stock.

RA Medical Systems Company Profile

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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