Edap Tms (NASDAQ:EDAP) Rating Lowered to “Neutral” at Piper Sandler

Edap Tms (NASDAQ:EDAP) was downgraded by analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, Marketbeat reports.

A number of other equities analysts have also recently commented on EDAP. StockNews.com assumed coverage on shares of Edap Tms in a research note on Thursday. They set a “hold” rating for the company. HC Wainwright reiterated a “buy” rating and set a $19.00 price objective on shares of Edap Tms in a research note on Friday, March 28th. Finally, Jefferies Financial Group restated a “hold” rating and set a $2.00 price target (down previously from $8.00) on shares of Edap Tms in a research note on Friday, April 4th.

Edap Tms Price Performance

Shares of EDAP stock opened at $1.76 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.18 and a quick ratio of 1.46. The company has a market capitalization of $65.30 million, a price-to-earnings ratio of -2.71 and a beta of 0.13. The company’s fifty day moving average price is $1.92 and its 200-day moving average price is $2.25. Edap Tms has a one year low of $1.26 and a one year high of $6.91.

Edap Tms (NASDAQ:EDAP) last announced its quarterly earnings results on Thursday, May 15th. The medical equipment provider reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). Edap Tms had a negative net margin of 34.92% and a negative return on equity of 44.21%. Sell-side analysts expect that Edap Tms will post -0.6 EPS for the current fiscal year.

Institutional Trading of Edap Tms

A number of hedge funds have recently added to or reduced their stakes in the company. Illumine Investment Management LLC acquired a new stake in shares of Edap Tms in the fourth quarter valued at about $50,000. Jane Street Group LLC increased its stake in Edap Tms by 174.7% during the 4th quarter. Jane Street Group LLC now owns 31,361 shares of the medical equipment provider’s stock worth $69,000 after buying an additional 73,361 shares during the period. BNP Paribas Financial Markets increased its position in shares of Edap Tms by 111.5% in the 4th quarter. BNP Paribas Financial Markets now owns 48,650 shares of the medical equipment provider’s stock valued at $108,000 after purchasing an additional 25,650 shares during the last quarter. Millennium Management LLC increased its position in shares of Edap Tms by 218.5% in the 4th quarter. Millennium Management LLC now owns 48,915 shares of the medical equipment provider’s stock valued at $108,000 after purchasing an additional 33,558 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of Edap Tms by 33.9% in the 1st quarter. Cetera Investment Advisers now owns 75,000 shares of the medical equipment provider’s stock valued at $147,000 after buying an additional 19,000 shares in the last quarter. 62.74% of the stock is owned by hedge funds and other institutional investors.

Edap Tms Company Profile

EDAP TMS SA is a holding company, which, through its subsidiary, engages in the development, production, and marketing of minimally invasive medical devices for urological diseases. It operates through the High Intensity Focused Ultrasound (HIFU) and Urology Devices and Services (UDS) segments. The HIFU segment develops, manufactures, and markets devices for the minimally invasive ablation of certain types of localized tumors using HIFU technology.