iRadimed Corporation (IRMD) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research cut shares of iRadimed Corporation (NASDAQ:IRMD) from a buy rating to a hold rating in a research note issued to investors on Monday morning.
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. “
A number of other brokerages have also weighed in on IRMD. TheStreet raised iRadimed Corporation from a d rating to a c- rating in a report on Friday, June 23rd. Roth Capital upgraded iRadimed Corporation from a neutral rating to a buy rating and increased their price objective for the stock from $9.00 to $12.00 in a research report on Monday, July 31st. Finally, ValuEngine downgraded iRadimed Corporation from a hold rating to a sell rating in a report on Saturday, June 24th.
iRadimed Corporation (NASDAQ IRMD) opened at 10.15 on Monday. The stock has a market cap of $107.41 million, a price-to-earnings ratio of 42.47 and a beta of 1.48. iRadimed Corporation has a 12 month low of $7.85 and a 12 month high of $14.24. The stock’s 50 day moving average price is $9.94 and its 200-day moving average price is $8.97.
iRadimed Corporation (NASDAQ:IRMD) last issued its earnings results on Friday, July 28th. The medical equipment provider reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.07. The business had revenue of $5.50 million during the quarter, compared to the consensus estimate of $5.41 million. iRadimed Corporation had a return on equity of 8.98% and a net margin of 11.61%. The company’s revenue for the quarter was down 44.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 EPS. Equities research analysts predict that iRadimed Corporation will post $0.13 EPS for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Federated Investors Inc. PA boosted its position in iRadimed Corporation by 7.5% during the second quarter. Federated Investors Inc. PA now owns 40,400 shares of the medical equipment provider’s stock worth $347,000 after purchasing an additional 2,807 shares in the last quarter. Connors Investor Services Inc. grew its holdings in iRadimed Corporation by 10.0% in the second quarter. Connors Investor Services Inc. now owns 33,000 shares of the medical equipment provider’s stock valued at $284,000 after purchasing an additional 3,000 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in iRadimed Corporation by 23.3% in the second quarter. Neuberger Berman Group LLC now owns 18,500 shares of the medical equipment provider’s stock valued at $159,000 after purchasing an additional 3,500 shares during the last quarter. Menta Capital LLC grew its holdings in iRadimed Corporation by 5.7% in the second quarter. Menta Capital LLC now owns 70,476 shares of the medical equipment provider’s stock valued at $606,000 after purchasing an additional 3,823 shares during the last quarter. Finally, Citigroup Inc. increased its position in shares of iRadimed Corporation by 50.8% in the second quarter. Citigroup Inc. now owns 16,082 shares of the medical equipment provider’s stock valued at $138,000 after buying an additional 5,418 shares in the last quarter. Institutional investors own 14.19% of the company’s stock.
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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