Shares of iRadimed Corporation (NASDAQ:IRMD) have received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating. iRadimed Corporation’s rating score has improved by 50% in the last 90 days as a result of various analysts’ ratings changes.
Brokerages have set a 12 month consensus target price of $16.00 for the company and are expecting that the company will post $0.06 earnings per share for the current quarter, according to Zacks. Zacks has also given iRadimed Corporation an industry rank of 169 out of 265 based on the ratings given to its competitors.
Several equities research analysts recently weighed in on IRMD shares. Roth Capital started coverage on shares of iRadimed Corporation in a research note on Tuesday. They set a “buy” rating and a $16.00 target price on the stock. Zacks Investment Research raised shares of iRadimed Corporation from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Friday, August 4th. Finally, ValuEngine raised shares of iRadimed Corporation from a “sell” rating to a “hold” rating in a research note on Friday, October 6th.
iRadimed Corporation (NASDAQ:IRMD) last announced its earnings results on Monday, October 30th. The medical equipment provider reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.35. iRadimed Corporation had a net margin of 6.51% and a return on equity of 4.59%. The firm had revenue of $5.69 million for the quarter, compared to the consensus estimate of $5.60 million. During the same period in the prior year, the firm earned $0.14 EPS. The firm’s revenue for the quarter was down 25.9% on a year-over-year basis.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. purchased a new stake in iRadimed Corporation during the 2nd quarter worth approximately $2,954,000. AQR Capital Management LLC increased its position in shares of iRadimed Corporation by 25.9% in the 1st quarter. AQR Capital Management LLC now owns 137,663 shares of the medical equipment provider’s stock valued at $1,225,000 after purchasing an additional 28,345 shares during the last quarter. Menta Capital LLC increased its position in shares of iRadimed Corporation by 5.7% in the 2nd 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. Federated Investors Inc. PA increased its position in shares of iRadimed Corporation by 7.5% in the 2nd quarter. Federated Investors Inc. PA now owns 40,400 shares of the medical equipment provider’s stock valued at $347,000 after purchasing an additional 2,807 shares during the last quarter. Finally, Connors Investor Services Inc. increased its position in shares of iRadimed Corporation by 10.0% in the 2nd 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. 14.11% of the stock is currently owned by hedge funds and other institutional investors.
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iRadimed Corporation Company Profile
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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