Zacks Investment Research downgraded shares of RA Medical Systems (NYSE:RMED) from a hold rating to a sell rating in a report released on Thursday morning, 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. “

Several other brokerages have also weighed in on RMED. Cantor Fitzgerald lowered shares of RA Medical Systems from an overweight rating to a neutral rating and cut their price objective for the company from $10.00 to $2.00 in a research report on Tuesday, August 13th. Piper Jaffray Companies cut shares of RA Medical Systems from an overweight rating to a neutral rating and reduced their target price for the company from $9.00 to $1.50 in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $4.13.

RMED opened at $1.21 on Thursday. RA Medical Systems has a 12 month low of $1.06 and a 12 month high of $10.19. The company has a debt-to-equity ratio of 0.07, a current ratio of 5.69 and a quick ratio of 11.45. The stock has a market cap of $17.56 million, a P/E ratio of -0.36 and a beta of 2.08. The stock’s 50 day moving average price is $1.46 and its 200 day moving average price is $2.26.

RA Medical Systems (NYSE:RMED) last released its quarterly earnings results on Friday, November 29th. The company reported ($1.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.80). The company had revenue of $1.91 million during the quarter, compared to analyst estimates of $2.08 million. RA Medical Systems had a negative net margin of 797.11% and a negative return on equity of 112.93%. Equities analysts anticipate that RA Medical Systems will post -4.52 EPS for the current year.

Large investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. acquired a new stake in RA Medical Systems in the 2nd quarter valued at approximately $45,000. Weil Company Inc. bought a new position in RA Medical Systems during the second quarter valued at about $63,000. BlackRock Inc. raised its holdings in RA Medical Systems by 94.2% in the 2nd quarter. BlackRock Inc. now owns 22,438 shares of the company’s stock valued at $81,000 after acquiring an additional 10,883 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in RA Medical Systems in the 3rd quarter valued at approximately $58,000. Finally, Bourne Lent Asset Management Inc. acquired a new position in RA Medical Systems in the 3rd quarter valued at approximately $70,000. 18.13% of the stock is owned by institutional investors.

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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