Scoggin Management LP Purchases New Position in EDAP TMS S.A. $EDAP

Key Points

• Scoggin Management LP has invested approximately $686,000 in Edap Tms S.A., purchasing 350,000 shares for a total stake of about 0.94% in the company.
• Multiple institutional investors have increased their positions in Edap Tms, with Jane Street Group LLC raising its stake by 174.7% and Millennium Management LLC by 218.5%.
• Shares of Edap Tms opened at $2.26, with a 52-week high of $3.77 and a consensus price target set at $8.50.

Scoggin Management LP bought a new position in EDAP TMS S.A. (NASDAQ:EDAP - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 350,000 shares of the medical equipment provider's stock, valued at approximately $686,000. Scoggin Management LP owned 0.94% of EDAP TMS as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Jane Street Group LLC boosted its stake in shares of 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 valued at $69,000 after purchasing an additional 73,361 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of EDAP TMS by 111.5% in the fourth quarter. BNP Paribas Financial Markets now owns 48,650 shares of the medical equipment provider's stock worth $108,000 after buying an additional 25,650 shares in the last quarter. Millennium Management LLC lifted its position in EDAP TMS by 218.5% during the fourth 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 period. Cetera Investment Advisers lifted its position in EDAP TMS by 33.9% during the first quarter. Cetera Investment Advisers now owns 75,000 shares of the medical equipment provider's stock valued at $147,000 after purchasing an additional 19,000 shares during the period. Finally, Schonfeld Strategic Advisors LLC lifted its position in EDAP TMS by 48.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 160,800 shares of the medical equipment provider's stock valued at $355,000 after purchasing an additional 52,500 shares during the period. Hedge funds and other institutional investors own 62.74% of the company's stock.

EDAP TMS Stock Performance

Shares of NASDAQ:EDAP remained flat at $2.52 during midday trading on Friday. 134,627 shares of the company were exchanged, compared to its average volume of 90,865. The company has a current ratio of 1.51, a quick ratio of 1.05 and a debt-to-equity ratio of 0.04. The company's 50 day moving average is $1.57 and its two-hundred day moving average is $1.84. EDAP TMS S.A. has a 12-month low of $1.21 and a 12-month high of $3.29. The firm has a market capitalization of $94.22 million, a PE ratio of -4.13 and a beta of -0.21.

Analyst Upgrades and Downgrades

EDAP has been the subject of a number of research reports. Wall Street Zen initiated coverage on shares of EDAP TMS in a report on Thursday, May 15th. They set a "hold" rating for the company. Piper Sandler lowered shares of EDAP TMS from an "overweight" rating to a "neutral" rating in a research report on Thursday, May 15th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, EDAP TMS presently has an average rating of "Hold" and a consensus price target of $8.50.

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.