ValuEngine cut shares of RA Medical Systems (NYSE:RMED) from a buy rating to a hold rating in a report issued on Thursday, ValuEngine reports.

RMED has been the subject of a number of other reports. Piper Sandler reduced their price target on shares of RA Medical Systems from $1.50 to $1.00 and set a neutral rating for the company in a report on Thursday, May 14th. Zacks Investment Research downgraded shares of RA Medical Systems from a buy rating to a hold rating in a report on Wednesday, June 3rd. Finally, Maxim Group reaffirmed a buy rating and set a $2.00 price objective on shares of RA Medical Systems in a report on Friday, June 12th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $1.45.

NYSE:RMED remained flat at $$0.29 during midday trading on Thursday. 8,312,335 shares of the company were exchanged, compared to its average volume of 2,964,557. RA Medical Systems has a 1-year low of $0.28 and a 1-year high of $2.96. The business has a fifty day moving average price of $0.48 and a two-hundred day moving average price of $1.11. The company has a current ratio of 4.76, a quick ratio of 4.30 and a debt-to-equity ratio of 0.10.

RA Medical Systems (NYSE:RMED) last posted its earnings results on Wednesday, May 13th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.22). RA Medical Systems had a negative net margin of 732.37% and a negative return on equity of 130.46%. The firm had revenue of $1.37 million during the quarter, compared to analyst estimates of $1.51 million. As a group, analysts anticipate that RA Medical Systems will post -1.06 EPS for the current fiscal year.

In other news, Director William R. Enquist purchased 50,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average cost of $0.51 per share, with a total value of $25,500.00. Following the acquisition, the director now directly owns 88,085 shares of the company’s stock, valued at approximately $44,923.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased a total of 110,000 shares of company stock valued at $60,100 over the last three months. 25.20% of the stock is currently owned by insiders.

A hedge fund recently raised its stake in RA Medical Systems stock. Bourne Lent Asset Management Inc. increased its position in shares of RA Medical Systems Inc (NYSE:RMED) by 18.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 211,260 shares of the company’s stock after acquiring an additional 32,500 shares during the quarter. Bourne Lent Asset Management Inc. owned about 1.53% of RA Medical Systems worth $230,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 14.43% of the company’s stock.

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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