Iradimed Corp (NASDAQ:IRMD) has been assigned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.
Brokerages have set a 12 month consensus target price of $26.00 for the company and are forecasting that the company will post $0.10 EPS for the current quarter, according to Zacks. Zacks has also assigned Iradimed an industry rank of 114 out of 255 based on the ratings given to related companies.
IRMD has been the topic of a number of recent research reports. Roth Capital upped their price objective on Iradimed from $21.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. Zacks Investment Research upgraded Iradimed from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Friday, May 4th. BidaskClub upgraded Iradimed from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 9th. Finally, ValuEngine upgraded Iradimed from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd.
In other Iradimed news, Director Monty K. Allen sold 4,347 shares of the stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $27.04, for a total transaction of $117,542.88. Following the sale, the director now owns 15,625 shares of the company’s stock, valued at approximately $422,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher K. Scott sold 96,250 shares of the stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $26.05, for a total value of $2,507,312.50. Following the sale, the chief financial officer now directly owns 32,398 shares in the company, valued at approximately $843,967.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 211,556 shares of company stock worth $5,245,841. Company insiders own 61.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in IRMD. BlackRock Inc. raised its stake in shares of Iradimed by 427.3% during the 2nd quarter. BlackRock Inc. now owns 229,353 shares of the medical equipment provider’s stock valued at $4,759,000 after buying an additional 185,860 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Iradimed by 119.2% in the 2nd quarter. Renaissance Technologies LLC now owns 117,200 shares of the medical equipment provider’s stock valued at $2,432,000 after purchasing an additional 63,742 shares in the last quarter. Cadence Capital Management LLC increased its stake in shares of Iradimed by 27.9% in the 2nd quarter. Cadence Capital Management LLC now owns 143,966 shares of the medical equipment provider’s stock valued at $2,987,000 after purchasing an additional 31,437 shares in the last quarter. Boston Partners increased its stake in shares of Iradimed by 68.0% in the 1st quarter. Boston Partners now owns 74,458 shares of the medical equipment provider’s stock valued at $1,050,000 after purchasing an additional 30,137 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Iradimed by 49.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 88,223 shares of the medical equipment provider’s stock valued at $1,831,000 after purchasing an additional 29,105 shares in the last quarter. 21.19% of the stock is currently owned by institutional investors and hedge funds.
IRMD stock traded down $0.15 during midday trading on Friday, reaching $29.00. 15,494 shares of the company traded hands, compared to its average volume of 109,722. Iradimed has a 52-week low of $9.25 and a 52-week high of $30.60. The company has a market cap of $314.53 million, a PE ratio of 362.50 and a beta of 1.42.
Iradimed (NASDAQ:IRMD) last issued its quarterly earnings data on Tuesday, July 31st. The medical equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. Iradimed had a return on equity of 8.99% and a net margin of 9.57%. The business had revenue of $7.38 million for the quarter, compared to the consensus estimate of $7.26 million. equities research analysts expect that Iradimed will post 0.37 earnings per share for the current fiscal year.
IRadimed Corporation develops, manufactures, markets, and distributes magnetic resonance imaging (MRI) compatible medical devices, and related accessories and services in the United States and internationally. It offers MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets under the MRidium name; and MRI compatible patient vital signs monitoring system under the IRadimed name.
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