Edap Tms (NASDAQ:EDAP) Trading Up 6.5% on Analyst Upgrade


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Edap Tms S.A. (NASDAQ:EDAP)’s stock price was up 6.5% on Tuesday after B. Riley raised their price target on the stock from $5.50 to $11.50. B. Riley currently has a buy rating on the stock. Edap Tms traded as high as $6.59 and last traded at $6.43. Approximately 439,695 shares traded hands during trading, an increase of 82% from the average daily volume of 241,256 shares. The stock had previously closed at $6.04.

EDAP has been the subject of several other reports. HC Wainwright lifted their price objective on Edap Tms from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Friday, November 20th. Zacks Investment Research downgraded Edap Tms from a “hold” rating to a “sell” rating in a report on Thursday, November 19th. Finally, ValuEngine upgraded Edap Tms from a “hold” rating to a “buy” rating in a report on Tuesday, September 22nd. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $7.33.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. purchased a new position in Edap Tms in the third quarter worth about $103,000. Commonwealth Equity Services LLC boosted its position in Edap Tms by 24.2% in the second quarter. Commonwealth Equity Services LLC now owns 50,525 shares of the medical equipment provider’s stock worth $125,000 after purchasing an additional 9,850 shares during the last quarter. Acadian Asset Management LLC boosted its position in Edap Tms by 28.7% in the third quarter. Acadian Asset Management LLC now owns 55,123 shares of the medical equipment provider’s stock worth $253,000 after purchasing an additional 12,293 shares during the last quarter. Finally, Archon Capital Management LLC boosted its position in Edap Tms by 125.8% in the third quarter. Archon Capital Management LLC now owns 826,143 shares of the medical equipment provider’s stock worth $3,800,000 after purchasing an additional 460,193 shares during the last quarter. Institutional investors own 15.14% of the company’s stock.

The firm has a market capitalization of $186.18 million, a PE ratio of -107.00 and a beta of 1.92. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.18 and a quick ratio of 1.68. The firm has a 50-day simple moving average of $4.85 and a 200-day simple moving average of $4.05.

Edap Tms (NASDAQ:EDAP) last announced its earnings results on Tuesday, November 17th. The medical equipment provider reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $11.16 million during the quarter, compared to analysts’ expectations of $9.24 million. Edap Tms had a negative return on equity of 11.54% and a negative net margin of 4.03%. Equities analysts expect that Edap Tms S.A. will post -0.05 earnings per share for the current year.

About Edap Tms (NASDAQ:EDAP)

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. It operates in two divisions, High Intensity Focused Ultrasound (HIFU) and Urological Devices and Services (UDS).

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