Iradimed (NASDAQ:IRMD) Rating Reiterated by Roth Capital

Iradimed (NASDAQ:IRMD)‘s stock had its “buy” rating restated by equities research analysts at Roth Capital in a report released 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 research analysts have also recently issued research reports about the company. Roth Mkm reiterated a “buy” rating and set a $65.00 target price on shares of Iradimed in a report on Monday. Singular Research reiterated a “buy” rating on shares of Iradimed in a report on Monday, April 1st.

Iradimed Price Performance

IRMD opened at $42.44 on Monday. The stock has a market cap of $537.29 million, a P/E ratio of 31.21 and a beta of 0.82. The stock’s 50 day simple moving average is $42.92 and its 200 day simple moving average is $43.02. Iradimed has a 1-year low of $36.12 and a 1-year high of $51.04.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Iradimed by 73.8% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 8,925 shares of the medical equipment provider’s stock worth $393,000 after purchasing an additional 3,791 shares during the period. Bridge City Capital LLC lifted its stake in shares of Iradimed by 23.5% during the 1st quarter. Bridge City Capital LLC now owns 42,183 shares of the medical equipment provider’s stock worth $1,856,000 after purchasing an additional 8,034 shares during the period. Cim LLC purchased a new position in shares of Iradimed during the 4th quarter worth $449,000. Ranger Investment Management L.P. lifted its stake in shares of Iradimed by 5.4% during the 4th quarter. Ranger Investment Management L.P. now owns 223,612 shares of the medical equipment provider’s stock worth $10,615,000 after purchasing an additional 11,465 shares during the period. Finally, Aristides Capital LLC lifted its stake in shares of Iradimed by 7.3% during the 4th quarter. Aristides Capital LLC now owns 9,873 shares of the medical equipment provider’s stock worth $469,000 after purchasing an additional 673 shares during the period. Hedge funds and other institutional investors own 92.34% of the company’s stock.

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.