iRadimed Corporation (IRMD) Receives Average Rating of “Strong Buy” from Analysts
Shares of iRadimed Corporation (NASDAQ:IRMD) have received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. iRadimed Corporation’s rating score has improved by 50% from three months ago as a result of various analysts’ upgrades and downgrades.
Zacks has also given iRadimed Corporation an industry rank of 120 out of 265 based on the ratings given to its competitors.
Several brokerages recently weighed in on IRMD. Zacks Investment Research raised shares of iRadimed Corporation from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Friday, August 4th. ValuEngine raised shares of iRadimed Corporation from a “sell” rating to a “hold” rating in a research note on Friday, October 6th. Finally, Roth Capital began coverage on shares of iRadimed Corporation in a research note on Tuesday. They set a “buy” rating and a $16.00 target price on the stock.
Several institutional investors have recently modified their holdings of IRMD. Ameriprise Financial Inc. acquired a new stake in shares of iRadimed Corporation in the 2nd quarter worth $2,954,000. Goldman Sachs Group Inc. purchased a new position in shares of iRadimed Corporation in the 1st quarter valued at about $290,000. AQR Capital Management LLC increased its holdings in shares of iRadimed Corporation by 25.9% in the 1st quarter. AQR Capital Management LLC now owns 137,663 shares of the medical equipment provider’s stock valued at $1,225,000 after purchasing an additional 28,345 shares in the last quarter. Neuberger Berman Group LLC purchased a new position in shares of iRadimed Corporation in the 1st quarter valued at about $134,000. Finally, Citigroup Inc. increased its holdings in shares of iRadimed Corporation by 50.8% in the 2nd quarter. Citigroup Inc. now owns 16,082 shares of the medical equipment provider’s stock valued at $138,000 after purchasing an additional 5,418 shares in the last quarter. Institutional investors and hedge funds own 14.11% of the company’s stock.
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iRadimed Corporation (NASDAQ IRMD) traded up 2.36% during midday trading on Tuesday, hitting $14.10. The stock had a trading volume of 25,247 shares. The firm has a market capitalization of $149.21 million, a P/E ratio of 59.00 and a beta of 1.48. iRadimed Corporation has a 52-week low of $7.85 and a 52-week high of $15.00. The firm has a 50-day moving average of $10.24 and a 200 day moving average of $9.30.
iRadimed Corporation (NASDAQ:IRMD) last announced its quarterly earnings data on Monday, October 30th. The medical equipment provider reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.35. iRadimed Corporation had a net margin of 11.61% and a return on equity of 8.98%. The company had revenue of $5.69 million for the quarter, compared to the consensus estimate of $5.60 million. During the same period in the prior year, the firm posted $0.14 EPS. The company’s quarterly revenue was down 25.9% compared to the same quarter last year. On average, equities analysts forecast that iRadimed Corporation will post $0.13 EPS for the current year.
About iRadimed Corporation
IRADIMED CORPORATION (IRADIMED) develops, manufactures, markets and distributes Magnetic Resonance Imaging (MRI) compatible products, and provides non-magnetic intravenous (IV) infusion pump systems. The Company operates through development, manufacture and sale of MRI compatible products and IV infusion pump systems for use by hospitals and acute care facilities during MRI procedures segment.
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