Iradimed’s (IRMD) Buy Rating Reaffirmed at Roth Capital

Roth Capital reiterated their buy rating on shares of Iradimed (NASDAQ:IRMD) in a research note issued to investors on Monday, Zacks.com reports. Roth Capital also issued estimates for Iradimed’s Q1 2024 earnings at $0.31 EPS, Q2 2024 earnings at $0.35 EPS, Q3 2024 earnings at $0.34 EPS, Q4 2024 earnings at $0.39 EPS, FY2024 earnings at $1.39 EPS and FY2025 earnings at $1.72 EPS.

Other equities analysts also recently issued reports about the company. Singular Research reiterated a buy rating on shares of Iradimed in a research report on Monday, April 1st. Roth Mkm reiterated a buy rating and set a $65.00 price objective on shares of Iradimed in a research report on Monday.

Iradimed Trading Up 1.3 %

Shares of NASDAQ IRMD opened at $42.44 on Monday. The stock has a 50 day simple moving average of $42.92 and a 200-day simple moving average of $43.02. The company has a market cap of $537.29 million, a PE ratio of 31.21 and a beta of 0.82. Iradimed has a 12-month low of $36.12 and a 12-month high of $51.04.

Iradimed (NASDAQ:IRMD) last issued its quarterly earnings data on Thursday, February 8th. The medical equipment provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business had revenue of $17.45 million for the quarter. Iradimed had a return on equity of 24.62% and a net margin of 26.22%. Sell-side analysts forecast that Iradimed will post 1.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Iradimed

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Iradimed by 2.7% during the third quarter. Vanguard Group Inc. now owns 412,151 shares of the medical equipment provider’s stock valued at $18,287,000 after acquiring an additional 10,932 shares during the period. RK Capital Management LLC raised its position in shares of Iradimed by 13.2% during the fourth quarter. RK Capital Management LLC now owns 340,400 shares of the medical equipment provider’s stock valued at $16,159,000 after buying an additional 39,600 shares during the last quarter. Ranger Investment Management L.P. raised its position in shares of Iradimed by 5.4% during the fourth quarter. Ranger Investment Management L.P. now owns 223,612 shares of the medical equipment provider’s stock valued at $10,615,000 after buying an additional 11,465 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Iradimed by 2.3% during the fourth quarter. Russell Investments Group Ltd. now owns 211,288 shares of the medical equipment provider’s stock valued at $10,030,000 after buying an additional 4,715 shares during the last quarter. Finally, Resource Consulting Group Inc. acquired a new position in shares of Iradimed during the fourth quarter valued at about $4,889,000. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

About Iradimed

IRADIMED CORPORATION develops, manufactures, markets, and distributes magnetic resonance imaging (MRI) compatible medical devices and related accessories, and disposables and services in the United States and internationally. It offers MRidium MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets; MRI compatible patient vital signs monitoring system; and 3600 FMD1 with RALU ferromagnetic detection device.