iRadimed Corp. (NASDAQ:IRMD) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.11-0.12 for the period, compared to the Thomson Reuters consensus estimate of $0.23. The company issued revenue guidance of $7.5-7.6 million, compared to the consensus revenue estimate of $9.91 million.iRadimed Corp. also updated its FY16 guidance to $0.60-0.63 EPS.
Shares of iRadimed Corp. (NASDAQ:IRMD) opened at 10.74 on Thursday. The firm’s 50-day moving average price is $17.31 and its 200 day moving average price is $18.18. The firm has a market capitalization of $114.62 million, a price-to-earnings ratio of 15.43 and a beta of 1.28. iRadimed Corp. has a 52 week low of $9.76 and a 52 week high of $33.25.
iRadimed Corp. (NASDAQ:IRMD) last issued its earnings results on Friday, July 29th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. The business had revenue of $9.90 million for the quarter, compared to analysts’ expectations of $9.60 million. iRadimed Corp. had a return on equity of 30.52% and a net margin of 24.52%. The company’s quarterly revenue was up 30.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 EPS. On average, analysts anticipate that iRadimed Corp. will post $0.92 EPS for the current year.
A number of brokerages recently issued reports on IRMD. Roth Capital cut iRadimed Corp. from a buy rating to a neutral rating and decreased their target price for the stock from $28.00 to $11.50 in a report on Wednesday. Zacks Investment Research cut iRadimed Corp. from a strong-buy rating to a hold rating in a research report on Tuesday, July 5th.
In other news, VP Steven M. Nardi sold 2,096 shares of the firm’s stock in a transaction 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 completion of 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 legal filing with the SEC, which is accessible through this link. 69.00% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. Teachers Advisors Inc. boosted its stake in shares of iRadimed Corp. by 43.3% in the second quarter. Teachers Advisors Inc. now owns 5,670 shares of the company’s stock valued at $123,000 after buying an additional 1,712 shares during the period. BlackRock Advisors LLC boosted its stake 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 during the last quarter. BlackRock Investment Management LLC boosted its stake in iRadimed Corp. by 50.6% in the second quarter. BlackRock Investment Management LLC now owns 14,741 shares of the company’s stock worth $321,000 after buying an additional 4,954 shares during the last quarter. Spark Investment Management LLC purchased a new stake in iRadimed Corp. during the second quarter worth about $761,000. Finally, Menta Capital LLC boosted 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 during the last quarter. 20.74% of the stock is 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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