Cantor Fitzgerald cut shares of RA Medical Systems (NYSE:RMED) from an overweight rating to a neutral rating in a research report released on Tuesday, The Fly reports. Cantor Fitzgerald currently has $2.00 price objective on the stock, down from their previous price objective of $10.00.

Several other research analysts have also weighed in on RMED. Piper Jaffray Companies lowered shares of RA Medical Systems from an overweight rating to a neutral rating and reduced their price objective for the stock from $9.00 to $1.50 in a research note on Tuesday. Maxim Group reduced their price objective on shares of RA Medical Systems to $12.00 and set a buy rating on the stock in a research note on Wednesday, May 15th. Finally, Zacks Investment Research raised shares of RA Medical Systems from a sell rating to a hold rating in a research note on Wednesday, July 17th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. RA Medical Systems currently has an average rating of Hold and a consensus price target of $6.38.

RA Medical Systems stock opened at $1.80 on Tuesday. The company’s 50 day simple moving average is $2.93 and its 200 day simple moving average is $4.31. RA Medical Systems has a fifty-two week low of $1.09 and a fifty-two week high of $22.00. The firm has a market capitalization of $15.64 million and a price-to-earnings ratio of -0.54. The company has a debt-to-equity ratio of 0.06, a current ratio of 11.89 and a quick ratio of 11.45.

In other RA Medical Systems news, insider Dean Irwin sold 22,886 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $2.93, for a total transaction of $67,055.98. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction of $55,504.68. The disclosure for this sale can be found here. Insiders have sold a total of 57,841 shares of company stock worth $176,959 over the last 90 days. Corporate insiders own 25.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in RMED. Envestnet Asset Management Inc. acquired a new stake in RA Medical Systems during the 2nd quarter worth approximately $45,000. Weil Company Inc. acquired a new stake in RA Medical Systems during the 2nd quarter worth approximately $63,000. BlackRock Inc. raised its holdings in RA Medical Systems by 94.2% during the 2nd quarter. BlackRock Inc. now owns 22,438 shares of the company’s stock worth $81,000 after buying an additional 10,883 shares during the period. Dowling & Yahnke LLC acquired a new stake in RA Medical Systems during the 2nd quarter worth approximately $110,000. Finally, Meitav Dash Investments Ltd. raised its holdings in RA Medical Systems by 18.8% during the 1st quarter. Meitav Dash Investments Ltd. now owns 118,260 shares of the company’s stock worth $415,000 after buying an additional 18,741 shares during the period. Hedge funds and other institutional investors 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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