Piper Sandler Has Lowered Expectations for Edap Tms (NASDAQ:EDAP) Stock Price

Edap Tms (NASDAQ:EDAP) had its price objective dropped by Piper Sandler from $5.00 to $4.50 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical equipment provider’s stock. Piper Sandler’s price objective indicates a potential upside of 116.24% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. StockNews.com began coverage on shares of Edap Tms in a report on Friday. They set a “hold” rating on the stock. HC Wainwright restated a “buy” rating and issued a $19.00 target price on shares of Edap Tms in a report on Friday.

Edap Tms Stock Performance

EDAP stock traded down $0.14 on Friday, reaching $2.08. The company’s stock had a trading volume of 79,730 shares, compared to its average volume of 86,303. Edap Tms has a 52 week low of $1.96 and a 52 week high of $8.50. 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 $77.21 million, a P/E ratio of -3.28 and a beta of 0.37. The firm has a fifty day moving average of $2.42 and a two-hundred day moving average of $2.51.

Edap Tms (NASDAQ:EDAP) last issued its quarterly earnings results on Thursday, March 27th. The medical equipment provider reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.06. Edap Tms had a negative return on equity of 44.21% and a negative net margin of 34.92%. The company had revenue of $22.69 million for the quarter, compared to analysts’ expectations of $20.83 million. As a group, analysts predict that Edap Tms will post -0.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Illumine Investment Management LLC bought a new stake in Edap Tms during the fourth quarter worth approximately $50,000. BNP Paribas Financial Markets boosted its holdings in shares of Edap Tms by 23.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 23,000 shares of the medical equipment provider’s stock worth $59,000 after buying an additional 4,400 shares during the period. Jane Street Group LLC raised its holdings in Edap Tms by 174.7% in the 4th quarter. Jane Street Group LLC now owns 31,361 shares of the medical equipment provider’s stock worth $69,000 after acquiring an additional 73,361 shares during the period. Millennium Management LLC lifted its position in Edap Tms by 218.5% during the 4th quarter. Millennium Management LLC now owns 48,915 shares of the medical equipment provider’s stock worth $108,000 after acquiring an additional 33,558 shares during the last quarter. Finally, Orion Capital Management LLC grew its position in shares of Edap Tms by 10.4% in the third quarter. Orion Capital Management LLC now owns 69,800 shares of the medical equipment provider’s stock valued at $178,000 after purchasing an additional 6,600 shares during the last quarter. 62.74% of the stock is owned by institutional investors.

About Edap Tms

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.