iRadimed Corp. (NASDAQ:IRMD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
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. “
Separately, Roth Capital cut iRadimed Corp. from a “buy” rating to a “neutral” rating and lowered their price target for the company from $28.00 to $11.50 in a report on Wednesday, October 5th.
iRadimed Corp. (NASDAQ:IRMD) opened at 9.98 on Tuesday. The stock has a market capitalization of $106.51 million, a price-to-earnings ratio of 14.34 and a beta of 1.28. The firm has a 50-day moving average of $16.24 and a 200 day moving average of $17.88. iRadimed Corp. has a 52 week low of $9.76 and a 52 week high of $33.25.
iRadimed Corp. (NASDAQ:IRMD) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.21 by $0.03. The company earned $9.90 million during 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 firm’s revenue was up 30.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 EPS. On average, analysts anticipate that iRadimed Corp. will post $0.92 EPS for the current year.
In other news, VP Steven M. Nardi sold 2,096 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $17.11, for a total transaction of $35,862.56. Following the completion of the sale, the vice president now owns 1,996 shares in the company, valued at approximately $34,151.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 69.00% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Numeric Investors LLC boosted its stake in shares of iRadimed Corp. by 1.1% in the second quarter. Numeric Investors LLC now owns 17,800 shares of the company’s stock worth $387,000 after buying an additional 200 shares during the last quarter. BlackRock Advisors LLC boosted its stake in shares of 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. Ameriprise Financial Inc. boosted its stake 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 last quarter. 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 worth $123,000 after buying an additional 1,712 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of iRadimed Corp. by 39.6% in the second quarter. California State Teachers Retirement System now owns 8,484 shares of the company’s stock worth $185,000 after buying an additional 2,405 shares during the last quarter. Institutional investors and hedge funds own 20.74% of the company’s stock.
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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