Zacks Investment Research cut shares of Edap Tms S.A. (NASDAQ:EDAP) from a hold rating to a strong sell rating in a research report released on Tuesday.

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. “

Other analysts also recently issued research reports about the company. HC Wainwright reaffirmed a buy rating and set a $6.50 target price on shares of Edap Tms in a research note on Friday, August 25th. ValuEngine raised Edap Tms from a sell rating to a hold rating in a research note on Friday, May 19th.

Edap Tms (NASDAQ EDAP) opened at 2.88 on Tuesday. The firm’s market cap is $83.51 million. Edap Tms has a one year low of $2.25 and a one year high of $3.85. The company’s 50-day moving average price is $2.96 and its 200-day moving average price is $2.88.

Edap Tms (NASDAQ:EDAP) last announced its earnings results on Wednesday, August 23rd. The medical equipment provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by $0.03. The business had revenue of $10.40 million for the quarter, compared to the consensus estimate of $10 million. Edap Tms had a negative net margin of 0.27% and a positive return on equity of 15.70%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS. On average, analysts anticipate that Edap Tms will post $0.01 EPS for the current year.

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A number of hedge funds have recently made changes to their positions in EDAP. Virtu KCG Holdings LLC purchased a new stake in Edap Tms during the second quarter worth approximately $117,000. Essex Investment Management Co. LLC purchased a new stake in Edap Tms during the second quarter worth approximately $172,000. Hilton Capital Management LLC increased its stake in Edap Tms by 43.1% in the second quarter. Hilton Capital Management LLC now owns 83,000 shares of the medical equipment provider’s stock worth $274,000 after buying an additional 25,000 shares in the last quarter. Finally, Archon Capital Management LLC purchased a new stake in Edap Tms during the second quarter worth approximately $2,474,000. 9.49% of the stock is currently owned by hedge funds and other institutional investors.

Edap Tms Company Profile

EDAP TMS SA (EDAP) is a holding company engaged in developing and marketing the Ablatherm and Focal One devices. The Company operates two divisions: High Intensity Focused Ultrasound (HIFU) and Urology Devices and Services (UDS) (including lithotripsy activities). The Company is developing HIFU technology for the treatment of certain other types of tumors.

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