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

Other equities research analysts have also recently issued research reports about the stock. Cantor Fitzgerald reissued a buy rating and set a $11.00 target price on shares of RA Medical Systems in a report on Tuesday, March 26th. Maxim Group lowered their target price on shares of RA Medical Systems to $15.00 and set a buy rating on the stock in a report on Friday, March 15th. Finally, SunTrust Banks reissued 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 sell rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $14.75.

Shares of RMED stock opened at $4.46 on Friday. The company has a current ratio of 11.64, a quick ratio of 11.28 and a debt-to-equity ratio of 0.01. RA Medical Systems has a 1 year low of $3.34 and a 1 year high of $22.00. The firm has a market cap of $51.39 million and a price-to-earnings ratio of -1.34.

RA Medical Systems (NYSE:RMED) last issued its earnings results on Thursday, March 14th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.83). The business had revenue of $1.99 million for the quarter, compared to analyst estimates of $2.92 million. As a group, sell-side analysts expect that RA Medical Systems will post -1.93 EPS for the current fiscal year.

In other RA Medical Systems news, insider Dean Irwin sold 20,928 shares of the business’s stock in a transaction on 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 accessible through this hyperlink.

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in RA Medical Systems in the fourth quarter worth $98,000. Sit Investment Associates Inc. grew its position in RA Medical Systems by 161.4% in the fourth quarter. Sit Investment Associates Inc. now owns 27,450 shares of the company’s stock worth $218,000 after acquiring an additional 16,950 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in RA Medical Systems in the third quarter worth $268,000. FNY Investment Advisers LLC purchased a new position in RA Medical Systems in the fourth quarter worth $287,000. Finally, Citadel Advisors LLC purchased a new position in RA Medical Systems in the third quarter worth $564,000. 31.87% of the stock is currently owned by hedge funds and other 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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