Wall Street Analyst Downgrade Ra Medical Systems Inc. [RMED]. What else is Wall St. saying


Ra Medical Systems Inc. [AMEX: RMED] jumped around 0.03 points on Monday, while shares priced at $0.43 at the close of the session, up 6.23%. The company report on March 28, 2022 that Ra Medical Systems Achieves Milestone of 100 Subjects Enrolled in its Pivotal Atherectomy Clinical Study.

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Ra Medical Systems, Inc. (NYSE American: RMED), a medical device company focusing on developing its excimer laser system to treat vascular diseases, announces the achievement of a milestone with the enrollment of 100 subjects in its pivotal clinical study to evaluate the safety and effectiveness of the DABRA excimer laser system as an atherectomy device for the treatment of peripheral arterial disease (PAD). This pivotal atherectomy study is cleared to enroll up to 125 subjects.

“I want to recognize the support from our Ra Medical team and our physician investigators and staff for their diligence in reaching this significant enrollment milestone, particularly given the daunting challenges that arose from the COVID-19 pandemic,” said Will McGuire, Ra Medical Systems CEO. “Securing clearance for the atherectomy indication is a top priority for Ra Medical as we believe it will expand our addressable market beyond the existing clearance for crossing chronic total occlusions, or CTOs. Third-party research estimates that the combined CTO and atherectomy markets in the U.S. will approximate $900 million this year.

Ra Medical Systems Inc. stock is now -72.44% down from its year-to-date (YTD) trading value. RMED Stock saw the intraday high of $0.45 and lowest of $0.38 per share. The company’s 52-week high price is 9.82, which means current price is +41.45% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 5.44M shares, RMED reached a trading volume of 5756703 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Ra Medical Systems Inc. [RMED]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RMED shares is $6.55 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RMED stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Jaffray have made an estimate for Ra Medical Systems Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 13, 2019. While these analysts kept the previous recommendation, Maxim Group raised their target price to Buy. The new note on the price target was released on November 02, 2018, representing the official price target for Ra Medical Systems Inc. stock.

The Average True Range (ATR) for Ra Medical Systems Inc. is set at 0.08, with the Price to Sales ratio for RMED stock in the period of the last 12 months amounting to 2.93. The Price to Book ratio for the last quarter was 0.13, with the Price to Cash per share for the same quarter was set at 0.73.

How has RMED stock performed recently?

Ra Medical Systems Inc. [RMED] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.05. With this latest performance, RMED shares gained by 3.14% in over the last four-week period, additionally sinking by -87.16% over the last 6 months – not to mention a drop of -91.55% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RMED stock in for the last two-week period is set at 42.19, with the RSI for the last a single of trading hit 45.04, and the three-weeks RSI is set at 38.09 for Ra Medical Systems Inc. [RMED]. The present Moving Average for the last 50 days of trading for this stock 0.5878, while it was recorded at 0.4582 for the last single week of trading, and 2.4070 for the last 200 days.

Ra Medical Systems Inc. [RMED]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Ra Medical Systems Inc. [RMED] shares currently have an operating margin of -133027.27 and a Gross Margin at -6990.91. Ra Medical Systems Inc.’s Net Margin is presently recorded at -123913.64.

Return on Equity for this stock declined to -156.58, with Return on Assets sitting at -100.07.

Ra Medical Systems Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.30 and a Current Ratio set at 6.60.

Insider trade positions for Ra Medical Systems Inc. [RMED]

There are presently around $0 million, or 3.10% of RMED stock, in the hands of institutional investors. The top three institutional holders of RMED stocks are: VANGUARD GROUP INC with ownership of 149,887, which is approximately 0% of the company’s market cap and around 0.30% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 147,100 shares of the stock with an approximate value of $60000.0 in RMED stocks shares; and DOWLING & YAHNKE LLC, currently with $28000.0 in RMED stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Ra Medical Systems Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 11 institutional holders increased their position in Ra Medical Systems Inc. [AMEX:RMED] by around 243,342 shares. Additionally, 7 investors decreased positions by around 65,010 shares, while 9 investors held positions by with 359,836 shares. The mentioned changes placed institutional holdings at 668,188 shares, according to the latest SEC report filing. RMED stock had 7 new institutional investments in for a total of 197,976 shares, while 4 institutional investors sold positions of 29,887 shares during the same period.