Iradimed (NASDAQ:IRMD) Given Buy Rating at Roth Mkm

Roth Mkm reissued their buy rating on shares of Iradimed (NASDAQ:IRMD) in a report released on Friday morning,Benzinga reports. The brokerage currently has a $72.00 price objective on the medical equipment provider’s stock, up from their prior price objective of $60.00.

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

Iradimed Stock Down 0.3 %

NASDAQ IRMD opened at $55.23 on Friday. The company has a market cap of $699.76 million, a PE ratio of 37.83 and a beta of 0.82. Iradimed has a 52 week low of $40.18 and a 52 week high of $63.29. The firm’s 50-day simple moving average is $57.20 and its two-hundred day simple moving average is $52.10.

Iradimed (NASDAQ:IRMD) last released its quarterly earnings data on Thursday, February 13th. The medical equipment provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.05). Iradimed had a net margin of 26.12% and a return on equity of 23.99%. As a group, equities research analysts anticipate that Iradimed will post 1.52 EPS for the current year.

Iradimed Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.23%. This is an increase from Iradimed’s previous quarterly dividend of $0.15. The ex-dividend date is Monday, February 24th. Iradimed’s dividend payout ratio is presently 41.10%.

Insider Transactions at Iradimed

In related news, CFO John Glenn sold 2,500 shares of the company’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 value of $135,450.00. Following the transaction, the chief financial officer now directly owns 4,383 shares in the company, valued at approximately $237,470.94. This represents a 36.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 37.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Shaker Investments LLC OH grew its position in Iradimed by 0.8% during the fourth quarter. Shaker Investments LLC OH now owns 29,894 shares of the medical equipment provider’s stock valued at $1,644,000 after acquiring an additional 233 shares during the last quarter. Bessemer Group Inc. grew its position in Iradimed by 9.6% during the fourth quarter. Bessemer Group Inc. now owns 4,143 shares of the medical equipment provider’s stock valued at $228,000 after acquiring an additional 362 shares during the last quarter. Bridge City Capital LLC grew its position in Iradimed by 0.8% during the fourth quarter. Bridge City Capital LLC now owns 61,899 shares of the medical equipment provider’s stock valued at $3,404,000 after acquiring an additional 462 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Iradimed by 1.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 24,779 shares of the medical equipment provider’s stock valued at $1,246,000 after acquiring an additional 472 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in Iradimed by 11.4% during the fourth quarter. MetLife Investment Management LLC now owns 4,845 shares of the medical equipment provider’s stock valued at $266,000 after acquiring an additional 494 shares during the last quarter. 92.34% of the stock is currently owned by institutional investors.

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.