RA Medical Systems Inc (NYSE:RMED) – Equities researchers at Piper Jaffray Companies lowered their Q2 2019 earnings estimates for shares of RA Medical Systems in a report issued on Monday, August 12th. Piper Jaffray Companies analyst M. O’brien now forecasts that the company will post earnings per share of ($0.78) for the quarter, down from their previous forecast of ($0.68). Piper Jaffray Companies has a “Neutral” rating and a $1.50 price target on the stock. Piper Jaffray Companies also issued estimates for RA Medical Systems’ Q3 2019 earnings at ($0.76) EPS, Q4 2019 earnings at ($0.81) EPS, FY2019 earnings at ($3.51) EPS, Q1 2020 earnings at ($0.25) EPS, Q2 2020 earnings at ($0.26) EPS, Q3 2020 earnings at ($0.29) EPS, Q4 2020 earnings at ($0.30) EPS, FY2020 earnings at ($1.10) EPS and FY2021 earnings at ($1.02) EPS.
A number of other equities analysts have also recently weighed in on the company. Cantor Fitzgerald cut RA Medical Systems from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $10.00 to $2.00 in a report on Tuesday. Zacks Investment Research raised RA Medical Systems from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Maxim Group decreased their price objective on RA Medical Systems to $12.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. RA Medical Systems has a consensus rating of “Hold” and an average target price of $6.38.
In related news, insider Dean Irwin sold 11,800 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $3.27, for a total transaction of $38,586.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey J. Kraws sold 18,021 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $3.08, for a total value of $55,504.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,841 shares of company stock worth $176,959. 25.20% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Wasatch Advisors Inc. grew its position in RA Medical Systems by 16.6% during the 1st quarter. Wasatch Advisors Inc. now owns 239,944 shares of the company’s stock worth $816,000 after acquiring an additional 34,124 shares during the last quarter. BlackRock Inc. bought a new position in RA Medical Systems during the 4th quarter worth approximately $98,000. Alethea Capital Management LLC grew its position in RA Medical Systems by 134.0% during the 1st quarter. Alethea Capital Management LLC now owns 206,980 shares of the company’s stock worth $704,000 after acquiring an additional 118,523 shares during the last quarter. Principal Financial Group Inc. grew its position in RA Medical Systems by 30.4% during the 4th quarter. Principal Financial Group Inc. now owns 305,392 shares of the company’s stock worth $2,428,000 after acquiring an additional 71,237 shares during the last quarter. Finally, Millennium Management LLC grew its position in RA Medical Systems by 411.9% during the 4th quarter. Millennium Management LLC now owns 503,875 shares of the company’s stock worth $4,006,000 after acquiring an additional 405,443 shares during the last quarter. Institutional investors and hedge funds own 20.13% of the company’s stock.
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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