Bank of New York Mellon Corp reduced its stake in shares of iRadimed Corporation (NASDAQ:IRMD) by 34.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,432 shares of the medical equipment provider’s stock after selling 8,229 shares during the period. Bank of New York Mellon Corp owned 0.14% of iRadimed Corporation worth $133,000 at the end of the most recent quarter.

Separately, Goldman Sachs Group Inc. bought a new position in shares of iRadimed Corporation in the 1st quarter worth about $290,000. 14.01% of the stock is currently owned by institutional investors.

iRadimed Corporation (NASDAQ IRMD) opened at $13.70 on Tuesday. iRadimed Corporation has a 12-month low of $7.85 and a 12-month high of $15.00. The firm has a market capitalization of $143.92, a PE ratio of 104.61 and a beta of 1.67.

iRadimed Corporation (NASDAQ:IRMD) last posted its quarterly earnings data on Monday, October 30th. The medical equipment provider reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.35. iRadimed Corporation had a return on equity of 4.59% and a net margin of 6.51%. The firm had revenue of $5.69 million during the quarter, compared to analyst estimates of $5.60 million. During the same period last year, the company posted $0.14 EPS. The business’s quarterly revenue was down 25.9% on a year-over-year basis. equities analysts anticipate that iRadimed Corporation will post 0.05 EPS for the current year.

Several research analysts have recently weighed in on IRMD shares. Zacks Investment Research raised iRadimed Corporation from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Friday, August 4th. ValuEngine raised iRadimed Corporation from a “sell” rating to a “hold” rating in a research report on Friday, October 6th. Finally, Roth Capital started coverage on iRadimed Corporation in a research report on Tuesday, October 31st. They issued a “buy” rating and a $16.00 price objective for the company.

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iRadimed Corporation Company Profile

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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Institutional Ownership by Quarter for iRadimed Corporation (NASDAQ:IRMD)

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