iRadimed Corp. (NASDAQ:IRMD) updated its FY16 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $0.60-0.63 for the period, compared to the Thomson Reuters consensus estimate of $0.62. The company issued revenue guidance of $32.9-33.2 million, compared to the consensus revenue estimate of $32.95 million.iRadimed Corp. also updated its Q3 guidance to $0.11-0.12 EPS.
A number of research firms have recently weighed in on IRMD. Zacks Investment Research cut iRadimed Corp. from a strong-buy rating to a hold rating in a research report on Tuesday, July 5th. Roth Capital cut iRadimed Corp. from a buy rating to a neutral rating and lowered their price objective for the stock from $28.00 to $11.50 in a research report on Wednesday, October 5th.
iRadimed Corp. (NASDAQ:IRMD) traded down 1.15% during mid-day trading on Friday, hitting $9.44. The stock had a trading volume of 110,520 shares. The firm has a 50-day moving average of $15.99 and a 200-day moving average of $17.82. iRadimed Corp. has a 52-week low of $9.36 and a 52-week high of $33.25. The stock has a market cap of $100.74 million, a P/E ratio of 13.56 and a beta of 1.28.
iRadimed Corp. (NASDAQ:IRMD) last announced its earnings results on Friday, July 29th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The company had revenue of $9.90 million for the quarter, compared to analyst estimates of $9.60 million. iRadimed Corp. had a return on equity of 30.52% and a net margin of 24.52%. The firm’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.16 earnings per share. On average, analysts forecast that iRadimed Corp. will post $0.92 EPS for the current fiscal year.
In other iRadimed Corp. news, VP Steven M. Nardi sold 2,096 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $17.11, for a total value of $35,862.56. Following the sale, the vice president now owns 1,996 shares of the company’s stock, valued at $34,151.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 69.00% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC raised its stake in iRadimed Corp. by 41.7% in the second quarter. AQR Capital Management LLC now owns 48,264 shares of the company’s stock worth $1,050,000 after buying an additional 14,214 shares in the last quarter. Menta Capital LLC raised its stake in iRadimed Corp. by 23.9% in the second quarter. Menta Capital LLC now owns 41,919 shares of the company’s stock worth $912,000 after buying an additional 8,086 shares in the last quarter. State Street Corp raised its stake in iRadimed Corp. by 33.7% in the second quarter. State Street Corp now owns 42,082 shares of the company’s stock worth $917,000 after buying an additional 10,609 shares in the last quarter. Spark Investment Management LLC bought a new stake in iRadimed Corp. during the second quarter worth $761,000. Finally, Ativo Capital Management LLC raised its stake in iRadimed Corp. by 173.0% in the second quarter. Ativo Capital Management LLC now owns 57,347 shares of the company’s stock worth $1,248,000 after buying an additional 36,340 shares in the last quarter. 20.74% of the stock is currently owned by institutional investors and hedge funds.
iRadimed Corp. 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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