Equities Analysts Offer Predictions for Iradimed Corporation’s Q1 2024 Earnings (NASDAQ:IRMD)

Iradimed Corporation (NASDAQ:IRMD) – Research analysts at Roth Capital issued their Q1 2024 earnings estimates for shares of Iradimed in a note issued to investors on Monday, April 22nd. Roth Capital analyst J. Wittes expects that the medical equipment provider will earn $0.31 per share for the quarter. Roth Capital has a “Buy” rating on the stock. The consensus estimate for Iradimed’s current full-year earnings is $1.42 per share. Roth Capital also issued estimates for Iradimed’s 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 firms also recently weighed in on IRMD. Singular Research reissued a “buy” rating on shares of Iradimed in a research report on Monday, April 1st. Roth Mkm reissued a “buy” rating and set a $65.00 target price on shares of Iradimed in a research report on Monday.

Iradimed Stock Performance

Shares of IRMD stock opened at $42.44 on Thursday. Iradimed has a 52-week low of $36.12 and a 52-week high of $51.04. The company has a 50-day simple moving average of $42.92 and a two-hundred day simple moving average of $43.02. The company has a market capitalization of $537.29 million, a price-to-earnings ratio of 31.21 and a beta of 0.82.

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 analysts’ consensus estimates of $0.37 by ($0.01). Iradimed had a return on equity of 24.62% and a net margin of 26.22%. The firm had revenue of $17.45 million during the quarter.

Institutional Trading of Iradimed

Institutional investors have recently modified their holdings of the business. Copeland Capital Management LLC purchased a new stake in shares of Iradimed during the 3rd quarter valued at approximately $30,000. Gladius Capital Management LP purchased a new stake in shares of Iradimed during the 3rd quarter valued at approximately $36,000. AJOVista LLC purchased a new stake in shares of Iradimed during the 4th quarter valued at approximately $66,000. Hsbc Holdings PLC purchased a new stake in Iradimed in the 3rd quarter worth approximately $251,000. Finally, Summit Global Investments boosted its holdings in Iradimed by 22.5% in the 4th quarter. Summit Global Investments now owns 7,088 shares of the medical equipment provider’s stock valued at $336,000 after purchasing an additional 1,300 shares during the period. 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.