Shares of iRadimed Corp. (NASDAQ:IRMD) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy recommendation.
Brokerages have set a 1 year consensus price objective of $29.00 for the company and are anticipating that the company will post $0.23 earnings per share for the current quarter, according to Zacks. Zacks has also assigned iRadimed Corp. an industry rank of 162 out of 265 based on the ratings given to related companies.
A number of equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of iRadimed Corp. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Roth Capital lowered shares of iRadimed Corp. from a “buy” rating to a “neutral” rating and dropped their price target for the company from $28.00 to $11.50 in a research report on Wednesday.
In other news, VP Steven M. Nardi sold 2,096 shares of iRadimed Corp. stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $17.11, for a total value of $35,862.56. Following the transaction, the vice president now owns 1,996 shares of the company’s stock, valued at $34,151.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 69.00% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in IRMD. BlackRock Advisors LLC raised its position in iRadimed Corp. by 5.6% in the second quarter. BlackRock Advisors LLC now owns 8,343 shares of the company’s stock worth $182,000 after buying an additional 443 shares in the last quarter. Vanguard Group Inc. raised its position in shares of iRadimed Corp. by 8.2% in the second quarter. Vanguard Group Inc. now owns 224,101 shares of the company’s stock worth $4,876,000 after buying an additional 16,888 shares during the period. Ameriprise Financial Inc. raised its position in shares of iRadimed Corp. by 0.9% in the second quarter. Ameriprise Financial Inc. now owns 59,830 shares of the company’s stock worth $1,302,000 after buying an additional 530 shares during the period. Mesirow Financial Investment Management Equity Management bought a new position in shares of iRadimed Corp. during the second quarter worth about $273,000. Finally, Oxford Asset Management raised its position in shares of iRadimed Corp. by 53.5% in the second quarter. Oxford Asset Management now owns 43,742 shares of the company’s stock worth $952,000 after buying an additional 15,247 shares during the period. 20.74% of the stock is currently owned by institutional investors.
iRadimed Corp. (NASDAQ:IRMD) traded up 0.56% on Wednesday, hitting $10.83. 201,104 shares of the stock were exchanged. The stock has a market cap of $115.58 million, a PE ratio of 15.56 and a beta of 1.28. The company’s 50 day moving average is $17.49 and its 200 day moving average is $18.24. iRadimed Corp. has a 1-year low of $9.76 and a 1-year high of $33.25.
iRadimed Corp. (NASDAQ:IRMD) last posted its earnings results on Friday, July 29th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.03. The firm earned $9.90 million during the quarter, compared to analysts’ expectations of $9.60 million. iRadimed Corp. had a net margin of 24.52% and a return on equity of 30.52%. The company’s revenue was up 30.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 earnings per share. On average, equities research analysts expect that iRadimed Corp. will post $0.92 earnings per share for the current year.
About iRadimed Corp.
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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