Roth Mkm Reaffirms Buy Rating for Iradimed (NASDAQ:IRMD)

Iradimed (NASDAQ:IRMD)‘s stock had its “buy” rating reaffirmed by analysts at Roth Mkm in a note issued to investors on Friday,Benzinga reports. They presently have a $72.00 price objective on the medical equipment provider’s stock, up from their prior price objective of $60.00. Roth Mkm’s price target points to a potential upside of 30.36% from the company’s current price.

Separately, StockNews.com lowered shares of Iradimed from a “strong-buy” rating to a “buy” rating in a research note on Thursday.

Iradimed Stock Performance

NASDAQ IRMD opened at $55.23 on Friday. Iradimed has a one year low of $40.18 and a one year high of $63.29. The company’s 50 day moving average price is $57.20 and its 200 day moving average price is $52.14. The firm has a market capitalization of $699.76 million, a price-to-earnings ratio of 37.83 and a beta of 0.82.

Iradimed (NASDAQ:IRMD) last posted its quarterly earnings data on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.05). The firm had revenue of $19.39 million for the quarter, compared to analysts’ expectations of $19.09 million. Iradimed had a net margin of 26.12% and a return on equity of 23.99%. Sell-side analysts forecast that Iradimed will post 1.52 EPS for the current fiscal year.

Insider Transactions at Iradimed

In other news, CFO John Glenn sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $54.18, for a total transaction of $135,450.00. Following the completion of the sale, the chief financial officer now owns 4,383 shares of the company’s stock, valued at approximately $237,470.94. This trade represents a 36.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 37.10% of the company’s stock.

Institutional Trading of Iradimed

A number of hedge funds have recently made changes to their positions in IRMD. R Squared Ltd acquired a new position in Iradimed in the fourth quarter worth $30,000. US Bancorp DE boosted its holdings in Iradimed by 476.6% in the fourth quarter. US Bancorp DE now owns 617 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 510 shares during the period. Huntington National Bank boosted its holdings in Iradimed by 51.3% in the third quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider’s stock worth $75,000 after purchasing an additional 504 shares during the period. Gladius Capital Management LP boosted its holdings in Iradimed by 126.6% in the third quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider’s stock worth $87,000 after purchasing an additional 965 shares during the period. Finally, Quantbot Technologies LP boosted its holdings in Iradimed by 83.0% in the third quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider’s stock worth $117,000 after purchasing an additional 1,052 shares during the period. Institutional investors and hedge funds own 92.34% of the company’s stock.

Iradimed Company Profile

IRadimed Corp. engages in the development, manufacture, marketing, and distribution of Magnetic Resonance Imaging compatible medical devices. It also provides a non-magnetic Intravenous infusion pump system that is specifically designed for use during MRI procedures. The company was founded by Roger Susi in July 1992 and is headquartered in Winter Springs, FL.