Craig Hallum Lowers CAS Medical Systems (CASM) to Hold

CAS Medical Systems (NASDAQ:CASM) was downgraded by equities research analysts at Craig Hallum from a “buy” rating to a “hold” rating in a report released on Tuesday, The Fly reports.

CAS Medical Systems stock traded up $0.85 during mid-day trading on Tuesday, reaching $2.42. 297,087 shares of the company were exchanged, compared to its average volume of 42,839. CAS Medical Systems has a twelve month low of $0.99 and a twelve month high of $2.70. The stock has a market capitalization of $45.80 million, a price-to-earnings ratio of -8.96 and a beta of 0.45.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc lifted its holdings in shares of CAS Medical Systems by 2.8% in the 3rd quarter. Vanguard Group Inc now owns 547,560 shares of the medical technology company’s stock valued at $1,249,000 after buying an additional 15,155 shares during the period. Douglas Lane & Associates LLC acquired a new stake in shares of CAS Medical Systems in the 4th quarter valued at approximately $54,000. Acuta Capital Partners LLC lifted its holdings in shares of CAS Medical Systems by 0.9% in the 2nd quarter. Acuta Capital Partners LLC now owns 5,263,508 shares of the medical technology company’s stock valued at $10,264,000 after buying an additional 46,510 shares during the period. BlackRock Inc. lifted its holdings in shares of CAS Medical Systems by 569.2% in the 2nd quarter. BlackRock Inc. now owns 84,091 shares of the medical technology company’s stock valued at $164,000 after buying an additional 71,525 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in CAS Medical Systems by 47.2% during the second quarter. Renaissance Technologies LLC now owns 386,539 shares of the medical technology company’s stock worth $754,000 after purchasing an additional 123,939 shares during the last quarter. 27.92% of the stock is owned by institutional investors and hedge funds.

About CAS Medical Systems

CAS Medical Systems, Inc, a medical technology company, develops, manufactures, and markets non-invasive patient monitoring products worldwide. The company provides FORE-SIGHT tissue oximeter monitors, sensors, and accessories, as well as offers FORE-SIGHT ELITE monitors. Its FORE-SIGHT absolute tissue oximeter provides non-invasive and quantitative measurement of oxygenation for cerebral tissue during surgery or critical care situations.

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