ValuEngine upgraded shares of Iradimed (NASDAQ:IRMD) from a buy rating to a strong-buy rating in a research note released on Saturday morning.

A number of other research analysts have also recently issued reports on the stock. BidaskClub cut shares of Iradimed from a strong-buy rating to a buy rating in a report on Thursday, August 30th. Roth Capital raised their price target on shares of Iradimed from $21.00 to $26.00 and gave the stock a buy rating in a report on Wednesday, August 1st. Finally, TheStreet raised shares of Iradimed from a c+ rating to a b- rating in a report on Monday, August 27th. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $24.67.

NASDAQ IRMD opened at $34.90 on Friday. The firm has a market capitalization of $357.25 million, a price-to-earnings ratio of 436.88 and a beta of 1.49. Iradimed has a 12-month low of $9.45 and a 12-month high of $35.85.

Iradimed (NASDAQ:IRMD) last posted its quarterly earnings results on Tuesday, July 31st. The medical equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.04. The business had revenue of $7.38 million during the quarter, compared to analysts’ expectations of $7.26 million. Iradimed had a net margin of 9.57% and a return on equity of 8.99%. sell-side analysts expect that Iradimed will post 0.37 EPS for the current year.

In other Iradimed news, VP Francis X. Casey sold 55,000 shares of the firm’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $29.30, for a total value of $1,611,500.00. Following the completion of the transaction, the vice president now owns 98,779 shares of the company’s stock, valued at $2,894,224.70. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Steven M. Nardi sold 7,662 shares of the firm’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $23.80, for a total transaction of $182,355.60. Following the completion of the transaction, the vice president now directly owns 5,162 shares of the company’s stock, valued at approximately $122,855.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 231,556 shares of company stock valued at $6,209,841. Corporate insiders own 61.20% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Northern Trust Corp raised its holdings in shares of Iradimed by 119.4% during the second quarter. Northern Trust Corp now owns 58,777 shares of the medical equipment provider’s stock worth $1,219,000 after purchasing an additional 31,986 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Iradimed by 46.4% during the second quarter. Bank of New York Mellon Corp now owns 22,588 shares of the medical equipment provider’s stock worth $469,000 after purchasing an additional 7,156 shares during the last quarter. Bank of America Corp DE raised its holdings 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 purchasing an additional 14,406 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Iradimed by 119.2% during the second quarter. Renaissance Technologies LLC now owns 117,200 shares of the medical equipment provider’s stock worth $2,432,000 after purchasing an additional 63,742 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Iradimed by 427.3% during the second quarter. BlackRock Inc. now owns 229,353 shares of the medical equipment provider’s stock worth $4,759,000 after purchasing an additional 185,860 shares during the last quarter. 19.86% of the stock is owned by hedge funds and other institutional investors.

About Iradimed

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.

Further Reading: Penny Stocks

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Iradimed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iradimed and related companies with MarketBeat.com's FREE daily email newsletter.