Zacks: Iradimed Corp (IRMD) Receives Average Rating of “Strong Buy” from Brokerages
Shares of Iradimed Corp (NASDAQ:IRMD) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.
Analysts have set a one year consensus price objective of $16.00 for the company and are predicting that the company will post $0.06 earnings per share for the current quarter, according to Zacks. Zacks has also given Iradimed an industry rank of 174 out of 265 based on the ratings given to its competitors.
Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of Iradimed from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. ValuEngine upgraded shares of Iradimed from a “sell” rating to a “hold” rating in a research note on Friday, October 6th. Roth Capital assumed coverage on shares of Iradimed in a research note on Tuesday, October 31st. They issued a “buy” rating and a $16.00 price objective for the company. Finally, Credit Suisse Group assumed coverage on shares of Iradimed in a research note on Monday, November 27th. They issued a “buy” rating and a $19.00 price objective for the company.
A number of large investors have recently bought and sold shares of IRMD. Federated Investors Inc. PA increased its stake in Iradimed by 7.5% in the 2nd quarter. Federated Investors Inc. PA now owns 40,400 shares of the medical equipment provider’s stock valued at $347,000 after buying an additional 2,807 shares during the last quarter. Neuberger Berman Group LLC increased its stake in Iradimed by 23.3% in the 2nd quarter. Neuberger Berman Group LLC now owns 18,500 shares of the medical equipment provider’s stock valued at $159,000 after buying an additional 3,500 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in Iradimed in the 2nd quarter valued at about $2,954,000. Menta Capital LLC increased its stake in shares of Iradimed by 5.7% during the 2nd quarter. Menta Capital LLC now owns 70,476 shares of the medical equipment provider’s stock worth $606,000 after purchasing an additional 3,823 shares during the last quarter. Finally, Citigroup Inc. increased its stake in shares of Iradimed by 50.8% during the 2nd quarter. Citigroup Inc. now owns 16,082 shares of the medical equipment provider’s stock worth $138,000 after purchasing an additional 5,418 shares during the last quarter. Hedge funds and other institutional investors own 13.83% of the company’s stock.
Shares of Iradimed (NASDAQ:IRMD) traded down $0.20 during midday trading on Friday, reaching $15.50. 32,256 shares of the company traded hands, compared to its average volume of 21,322. Iradimed has a twelve month low of $7.85 and a twelve month high of $15.85. The company has a market cap of $163.61, a PE ratio of 119.23 and a beta of 1.61.
Iradimed (NASDAQ:IRMD) last announced its quarterly earnings results on Monday, October 30th. The medical equipment provider reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.35. Iradimed had a net margin of 6.51% and a return on equity of 4.58%. The business had revenue of $5.69 million for the quarter, compared to analysts’ expectations of $5.60 million. During the same quarter last year, the firm earned $0.14 EPS. The firm’s revenue for the quarter was down 25.9% compared to the same quarter last year. research analysts anticipate that Iradimed will post 0.05 EPS for the current fiscal year.
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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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