Iradimed Corp (IRMD) Given Average Rating of “Strong Buy” by Analysts
Shares of Iradimed Corp (NASDAQ:IRMD) have received an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.
Analysts have set a 12-month consensus price objective of $26.00 for the company and are expecting that the company will post $0.10 earnings per share for the current quarter, according to Zacks. Zacks has also given Iradimed an industry rank of 112 out of 255 based on the ratings given to its competitors.
Several equities analysts have commented on IRMD shares. Roth Capital increased their price target on shares of Iradimed from $21.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. Zacks Investment Research upgraded shares of Iradimed from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Friday, May 4th. BidaskClub upgraded shares of Iradimed from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 9th. Finally, ValuEngine upgraded shares of Iradimed from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd.
Iradimed (NASDAQ:IRMD) last announced its quarterly earnings results on Tuesday, July 31st. The medical equipment provider reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.04. The company had revenue of $7.38 million for the quarter, compared to analyst estimates of $7.26 million. Iradimed had a net margin of 9.57% and a return on equity of 8.99%. equities research analysts anticipate that Iradimed will post 0.37 EPS for the current fiscal year.
In other news, VP Steven M. Nardi sold 7,662 shares of the firm’s stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $23.80, for a total transaction of $182,355.60. Following the transaction, the vice president now directly owns 5,162 shares in the company, valued at $122,855.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Francis X. Casey sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $18.50, for a total transaction of $647,500.00. Following the transaction, the vice president now owns 105,831 shares in the company, valued at $1,957,873.50. The disclosure for this sale can be found here. Insiders sold 211,556 shares of company stock worth $5,245,841 over the last quarter. 61.20% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Macquarie Group Ltd. grew its position in shares of Iradimed by 643.1% during the fourth quarter. Macquarie Group Ltd. now owns 8,204 shares of the medical equipment provider’s stock worth $124,000 after acquiring an additional 7,100 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of Iradimed during the first quarter worth approximately $162,000. Bank of America Corp DE grew its position in shares of Iradimed by 3,722.5% during the second quarter. Bank of America Corp DE now owns 14,793 shares of the medical equipment provider’s stock worth $307,000 after acquiring an additional 14,406 shares during the last quarter. Deutsche Bank AG grew its position in shares of Iradimed by 820.3% during the fourth quarter. Deutsche Bank AG now owns 23,100 shares of the medical equipment provider’s stock worth $349,000 after acquiring an additional 20,590 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Iradimed by 27.9% during the first quarter. Northern Trust Corp now owns 26,791 shares of the medical equipment provider’s stock worth $386,000 after acquiring an additional 5,850 shares during the last quarter. Institutional investors and hedge funds own 17.46% of the company’s stock.
Iradimed Company Profile
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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