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

Roth Capital reissued their buy rating on shares of Iradimed (NASDAQ:IRMD) in a research note issued to investors on Monday morning, 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.

A number of other research analysts also recently issued reports on IRMD. Singular Research reaffirmed a buy rating on shares of Iradimed in a research report on Monday, April 1st. Roth Mkm reaffirmed a buy rating and issued a $65.00 price objective on shares of Iradimed in a research report on Monday.

Iradimed Stock Performance

NASDAQ IRMD opened at $42.44 on Monday. The company has a market capitalization of $537.29 million, a price-to-earnings ratio of 31.21 and a beta of 0.82. The company’s 50-day simple moving average is $42.92 and its two-hundred day simple moving average is $43.02. Iradimed has a one year low of $36.12 and a one year high of $51.04.

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

Institutional Trading of Iradimed

Institutional investors have recently bought and sold shares of the stock. Copeland Capital Management LLC acquired a new stake in Iradimed in the 3rd quarter worth approximately $30,000. Gladius Capital Management LP acquired a new stake in Iradimed in the 3rd quarter worth approximately $36,000. AJOVista LLC acquired a new stake in Iradimed in the 4th quarter worth approximately $66,000. Hsbc Holdings PLC acquired a new stake in Iradimed in the 3rd quarter worth approximately $251,000. Finally, Summit Global Investments boosted its stake in Iradimed by 22.5% in the 4th quarter. Summit Global Investments now owns 7,088 shares of the medical equipment provider’s stock worth $336,000 after purchasing an additional 1,300 shares in the last quarter. 92.34% of the stock is currently owned by institutional investors and hedge funds.

Iradimed Company Profile

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.