Iradimed (IRMD) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research cut shares of Iradimed (NASDAQ:IRMD) from a buy rating to a hold rating in a research report sent to investors on Saturday.
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. “
Several other research analysts also recently weighed in on IRMD. ValuEngine upgraded shares of Iradimed from a sell rating to a hold rating in a report on Friday, October 6th. Roth Capital initiated coverage on shares of Iradimed in a report on Tuesday, October 31st. They set a buy rating and a $16.00 price objective on the stock. Finally, Credit Suisse Group initiated coverage on shares of Iradimed in a report on Monday, November 27th. They set a buy rating and a $19.00 price objective on the stock. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $17.33.
Iradimed (NASDAQ:IRMD) last released its quarterly earnings data on Tuesday, February 6th. The medical equipment provider reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.08. Iradimed had a net margin of 6.51% and a return on equity of 4.58%. The firm had revenue of $6.70 million for the quarter, compared to the consensus estimate of $6.72 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The business’s revenue was up 11.9% on a year-over-year basis. equities research analysts forecast that Iradimed will post 0.05 earnings per share for the current fiscal year.
In other Iradimed news, Director Monty K. Allen sold 1,898 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $13.95, for a total transaction of $26,477.10. Following the transaction, the director now owns 9,062 shares in the company, valued at $126,414.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 60.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. grew its stake in shares of Iradimed by 50.8% in the 2nd quarter. Citigroup Inc. now owns 16,082 shares of the medical equipment provider’s stock worth $138,000 after acquiring an additional 5,418 shares in the last quarter. Cadence Capital Management LLC bought a new stake in shares of Iradimed in the 4th quarter worth $320,000. Unison Advisors LLC bought a new stake in shares of Iradimed in the 4th quarter worth $443,000. Boston Partners bought a new stake in shares of Iradimed in the 4th quarter worth $671,000. Finally, Ameriprise Financial Inc. grew its stake in shares of Iradimed by 32.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 456,810 shares of the medical equipment provider’s stock worth $4,386,000 after acquiring an additional 113,190 shares in the last quarter. Hedge funds and other institutional investors own 14.13% of the company’s stock.
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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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