Zacks: Brokerages Set $20.75 Price Target for RA Medical Systems Inc (RMED)

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RA Medical Systems Inc (NYSE:RMED) has been assigned an average broker rating score of 1.00 (Strong Buy) from the four brokers that provide coverage for the company, Zacks Investment Research reports. Four equities research analysts have rated the stock with a strong buy recommendation.

Brokers have set a 1 year consensus price target of $20.75 for the company and are predicting that the company will post ($0.35) earnings per share for the current quarter, according to Zacks. Zacks has also assigned RA Medical Systems an industry rank of 67 out of 255 based on the ratings given to its competitors.

Several equities research analysts have issued reports on RMED shares. Piper Jaffray Companies started coverage on shares of RA Medical Systems in a research note on Monday, October 22nd. They set an “overweight” rating and a $23.00 price target on the stock. Cantor Fitzgerald assumed coverage on shares of RA Medical Systems in a report on Monday, October 22nd. They set an “overweight” rating and a $21.00 price objective on the stock. SunTrust Banks assumed coverage on shares of RA Medical Systems in a report on Monday, October 22nd. They set a “buy” rating and a $16.00 price objective on the stock. Maxim Group assumed coverage on shares of RA Medical Systems in a report on Friday, November 2nd. They set a “buy” rating and a $23.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of RA Medical Systems from a “sell” rating to a “hold” rating in a report on Tuesday, January 1st.

Shares of RA Medical Systems stock traded up $0.42 during mid-day trading on Friday, hitting $7.12. 41,372 shares of the stock were exchanged, compared to its average volume of 37,545. RA Medical Systems has a twelve month low of $6.60 and a twelve month high of $22.00.

RA Medical Systems (NYSE:RMED) last released its quarterly earnings results on Tuesday, November 13th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.23). The business had revenue of $2.06 million for the quarter, compared to the consensus estimate of $2.19 million. As a group, equities research analysts expect that RA Medical Systems will post -2.26 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Rockefeller Capital Management L.P. purchased a new position in shares of RA Medical Systems during the 3rd quarter worth about $120,000. BlackRock Inc. purchased a new position in shares of RA Medical Systems during the 4th quarter worth about $98,000. Marshall Wace North America L.P. purchased a new position in shares of RA Medical Systems during the 3rd quarter worth about $268,000. Sit Investment Associates Inc. lifted its holdings in shares of RA Medical Systems by 161.4% during the 4th 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 during the period. Finally, Kornitzer Capital Management Inc. KS purchased a new position in shares of RA Medical Systems during the 3rd quarter worth about $455,000. Institutional investors and hedge funds own 32.76% of the company’s stock.

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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