iRadimed Corporation (IRMD) Given Average Rating of “Strong Buy” by Brokerages
iRadimed Corporation (NASDAQ:IRMD) has been assigned 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 analyst has rated the stock with a strong buy rating. iRadimed’s rating score has improved by 50% in the last 90 days as a result of various analysts’ ratings changes.
Analysts have set a 1 year consensus price target of $16.00 for the company and are forecasting that the company will post $0.06 EPS for the current quarter, according to Zacks. Zacks has also assigned iRadimed an industry rank of 172 out of 265 based on the ratings given to its competitors.
A number of equities research analysts have recently issued reports on the stock. ValuEngine raised shares of iRadimed from a “sell” rating to a “hold” rating in a research note on Friday, October 6th. Zacks Investment Research downgraded shares of iRadimed from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Roth Capital raised shares of iRadimed from a “neutral” rating to a “buy” rating and boosted their price target for the company from $9.00 to $12.00 in a research note on Monday, July 31st.
A number of institutional investors and hedge funds have recently made changes to their positions in IRMD. Citigroup Inc. increased its stake in 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 buying an additional 5,418 shares during the period. Neuberger Berman Group LLC increased its stake in iRadimed by 23.3% during the 2nd quarter. Neuberger Berman Group LLC now owns 18,500 shares of the medical equipment provider’s stock worth $159,000 after buying an additional 3,500 shares during the period. Connors Investor Services Inc. increased its stake in iRadimed by 10.0% during the 2nd quarter. Connors Investor Services Inc. now owns 33,000 shares of the medical equipment provider’s stock worth $284,000 after buying an additional 3,000 shares during the period. Goldman Sachs Group Inc. purchased a new stake in iRadimed during the 1st quarter worth approximately $290,000. Finally, Federated Investors Inc. PA increased its stake in iRadimed by 7.5% during the 2nd quarter. Federated Investors Inc. PA now owns 40,400 shares of the medical equipment provider’s stock worth $347,000 after buying an additional 2,807 shares during the period. 14.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of iRadimed (NASDAQ:IRMD) traded up $0.15 during mid-day trading on Friday, reaching $13.50. 3,306 shares of the company’s stock were exchanged, compared to its average volume of 24,526. iRadimed has a one year low of $7.85 and a one year high of $15.00. The stock has a market capitalization of $142.49, a P/E ratio of 103.85 and a beta of 1.67.
iRadimed (NASDAQ:IRMD) last released its quarterly earnings results on Monday, October 30th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.35. The business had revenue of $5.69 million for the quarter, compared to the consensus estimate of $5.60 million. iRadimed had a net margin of 6.51% and a return on equity of 4.58%. The business’s revenue was down 25.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 EPS. analysts anticipate that iRadimed will post 0.05 EPS for the current 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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