Ra Medical Systems, Inc. (RMED)

Ra Medical Systems, Inc. (RMED) — VMCI valuation read

Ra Medical Systems, Inc. sits at VMCI 28/100, with the Healthcare sector median at 50. That 22-point spread is the first thing to note on RMED: it tells the reader the composite is unfavorable before any single ratio is examined, and the mid-cap tier sets the comparison set.

Form 4 disclosures on RMED are blank for the trailing 30 days. With the insider channel offline, the EV/EBITDA delta, free-cash-flow trajectory, and the next earnings print do the talking.

**Investor frame.** The Value read on RMED: RMED trades at 22.0x earnings, 22% above the Healthcare median of 18.0x, with EV/EBITDA at 13.0x against 12.0x. The Quality read: ROIC of 8.0% trails the Healthcare median (10.0%) by 2.0pp. The Risk read: net debt to EBITDA of 3.5x is the binding constraint on the bear case, anchoring the bear scenario on a measurable balance-sheet metric.

RMED fell 1.8% over the trailing 7 days, with a -13.0% read on a 30-day basis.