Zacks Investment Research lowered shares of Iradimed (NASDAQ:IRMD) from a buy rating to a hold rating in a research report sent to investors on Wednesday, December 20th.
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. “
IRMD has been the topic of a number of other research reports. Credit Suisse Group assumed coverage on Iradimed in a research report on Monday, November 27th. They issued a buy rating and a $19.00 target price on the stock. Roth Capital assumed coverage on Iradimed in a research report on Tuesday, October 31st. They issued a buy rating and a $16.00 target price on the stock. Finally, ValuEngine raised Iradimed from a sell rating to a hold rating in a research report on Friday, October 6th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $15.33.
Shares of Iradimed (IRMD) traded down $0.20 during trading on Wednesday, reaching $15.50. The company had a trading volume of 32,256 shares, compared to its average volume of 21,322. Iradimed has a 1-year low of $7.85 and a 1-year high of $15.85. The firm has a market cap of $163.61, a price-to-earnings ratio of 119.23 and a beta of 1.61.
Iradimed (NASDAQ:IRMD) last announced its earnings results on Monday, October 30th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.35. Iradimed had a return on equity of 4.58% and a net margin of 6.51%. The business had revenue of $5.69 million for the quarter, compared to analyst estimates of $5.60 million. During the same quarter last year, the firm earned $0.14 EPS. Iradimed’s revenue for the quarter was down 25.9% compared to the same quarter last year. sell-side analysts predict that Iradimed will post 0.05 EPS for the current fiscal year.
In other Iradimed news, Director Monty K. Allen sold 1,898 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was 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 of the company’s stock, valued at approximately $126,414.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 60.10% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the business. Ameriprise Financial Inc. increased its position in shares of Iradimed by 32.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 456,810 shares of the medical equipment provider’s stock worth $4,386,000 after purchasing an additional 113,190 shares during the last quarter. Menta Capital LLC increased its position in shares of Iradimed by 5.7% during the 2nd quarter. Menta Capital LLC now owns 70,476 shares of the medical equipment provider’s stock worth $606,000 after purchasing an additional 3,823 shares during the last quarter. Federated Investors Inc. PA increased its position in shares of 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 purchasing an additional 2,807 shares during the last quarter. Connors Investor Services Inc. increased its position in shares of 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 purchasing an additional 3,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Iradimed during the 1st quarter worth approximately $290,000. 13.83% of the stock is currently owned by hedge funds and other institutional investors.
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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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