RA Medical Systems (RMED) Announces Quarterly Earnings Results, Misses Expectations By $0.83 EPS

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RA Medical Systems (NYSE:RMED) released its quarterly earnings data on Thursday. The company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.83), Morningstar.com reports. The company had revenue of $1.99 million during the quarter, compared to the consensus estimate of $2.92 million. RA Medical Systems updated its Q1 2019 guidance to EPS.

Shares of NYSE:RMED opened at $6.57 on Friday. RA Medical Systems has a 52-week low of $6.00 and a 52-week high of $22.00.

A number of large investors have recently made changes to their positions in the business. Wasatch Advisors Inc. purchased a new position in shares of RA Medical Systems during the 3rd quarter valued at about $1,976,000. Janus Henderson Group PLC purchased a new position in shares of RA Medical Systems during the 3rd quarter valued at about $3,185,000. FMR LLC purchased a new position in shares of RA Medical Systems during the 3rd quarter valued at about $1,343,000. Dean Capital Investments Management LLC purchased a new position in shares of RA Medical Systems during the 3rd quarter valued at about $546,000. Finally, Monashee Investment Management LLC purchased a new position in shares of RA Medical Systems during the 3rd quarter valued at about $2,748,000. 31.87% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently commented on the company. Maxim Group reduced their price objective on RA Medical Systems to $15.00 and set a “buy” rating for the company in a report on Friday. Zacks Investment Research downgraded RA Medical Systems from a “hold” rating to a “sell” rating in a report on Friday, January 25th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. RA Medical Systems presently has a consensus rating of “Buy” and a consensus target price of $18.75.

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About RA Medical Systems

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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