Zacks Investment Research upgraded shares of Iradimed (NASDAQ:IRMD) from a hold rating to a buy rating in a research note published on Saturday, Zacks.com reports. The brokerage currently has $26.00 price target on the medical equipment provider’s stock.

According to Zacks, “iRadimed Corporation engages in developing, manufacturing, marketing, and distributing magnetic resonance imaging (MRI) compatible products. It offers non-magnetic intravenous (IV) infusion pump systems, IV tubing sets, IV poles, wireless remote displays/controls under the mRidium name; side car pump modules; dose error reduction systems; Masimo SET SpO2 monitoring products; and MRI Pulse oximeters, and MRI oximeter remotes and displays under the iMagox name used during MRI procedures. iRadimed Corporation is headquartered in Winter Park, Florida. “

Separately, ValuEngine upgraded shares of Iradimed from a sell rating to a hold rating in a report on Wednesday, July 31st.

NASDAQ:IRMD traded up $0.12 during midday trading on Friday, reaching $23.08. 42,658 shares of the stock traded hands, compared to its average volume of 70,061. The company has a fifty day moving average of $21.30 and a 200 day moving average of $21.96. Iradimed has a 12 month low of $16.68 and a 12 month high of $30.90. The company has a debt-to-equity ratio of 0.06, a quick ratio of 9.39 and a current ratio of 10.29. The stock has a market capitalization of $261.04 million, a P/E ratio of 53.67 and a beta of 1.56.

Iradimed (NASDAQ:IRMD) last posted its quarterly earnings results on Tuesday, July 30th. The medical equipment provider reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.05. Iradimed had a net margin of 23.92% and a return on equity of 14.78%. The company had revenue of $9.23 million during the quarter, compared to analyst estimates of $8.91 million. On average, analysts predict that Iradimed will post 0.67 EPS for the current fiscal year.

In other Iradimed news, insider Louis S. Waldman sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.71, for a total transaction of $567,750.00. Following the sale, the insider now owns 2,005 shares in the company, valued at approximately $45,533.55. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Brent Johnson sold 1,300 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $21.63, for a total transaction of $28,119.00. Following the sale, the vice president now owns 2,368 shares in the company, valued at approximately $51,219.84. The disclosure for this sale can be found here. Insiders have sold a total of 92,815 shares of company stock worth $2,060,352 over the last three months. 56.80% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio raised its stake in Iradimed by 7.5% during the 2nd quarter. Strs Ohio now owns 20,100 shares of the medical equipment provider’s stock worth $411,000 after acquiring an additional 1,400 shares during the period. Morgan Stanley raised its stake in Iradimed by 14.3% during the 2nd quarter. Morgan Stanley now owns 13,118 shares of the medical equipment provider’s stock worth $268,000 after acquiring an additional 1,637 shares during the period. Northern Trust Corp raised its stake in Iradimed by 2.5% during the 2nd quarter. Northern Trust Corp now owns 73,296 shares of the medical equipment provider’s stock worth $1,499,000 after acquiring an additional 1,765 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Iradimed by 34.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 10,500 shares of the medical equipment provider’s stock valued at $215,000 after buying an additional 2,666 shares during the last quarter. Finally, HM Payson & Co. bought a new stake in shares of Iradimed during the second quarter valued at approximately $89,000. Institutional investors own 30.91% of the company’s stock.

About Iradimed

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; and MRI compatible patient vital signs monitoring system.

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