A number of other research firms have also weighed in on IRMD. ValuEngine raised shares of Iradimed from a hold rating to a buy rating in a research note on Thursday. Zacks Investment Research raised shares of Iradimed from a hold rating to a buy rating and set a $26.00 price objective for the company in a research note on Saturday, October 26th.
NASDAQ:IRMD traded down $0.09 during mid-day trading on Friday, reaching $25.67. The company’s stock had a trading volume of 48,202 shares, compared to its average volume of 60,072. Iradimed has a 1 year low of $16.68 and a 1 year high of $29.80. The stock has a fifty day moving average of $23.29 and a 200-day moving average of $21.36. The firm has a market capitalization of $274.60 million, a PE ratio of 59.70 and a beta of 1.48. The company has a quick ratio of 9.05, a current ratio of 9.82 and a debt-to-equity ratio of 0.05.
Iradimed (NASDAQ:IRMD) last released its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.07. Iradimed had a net margin of 22.51% and a return on equity of 16.24%. The company had revenue of $9.96 million during the quarter, compared to analyst estimates of $9.85 million. On average, analysts expect that Iradimed will post 0.7 earnings per share for the current year.
In other Iradimed news, VP Brent Johnson sold 10,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $21.96, for a total transaction of $219,600.00. Following the completion of the sale, the vice president now directly owns 7,368 shares of the company’s stock, valued at $161,801.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Steven M. Nardi sold 1,250 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $24.36, for a total transaction of $30,450.00. Following the sale, the vice president now directly owns 1,250 shares of the company’s stock, valued at $30,450. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,091 shares of company stock valued at $3,569,657. 56.80% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Municipal Employees Retirement System of Michigan lifted its position in shares of Iradimed by 68.7% during the second quarter. Municipal Employees Retirement System of Michigan now owns 21,210 shares of the medical equipment provider’s stock valued at $434,000 after buying an additional 8,640 shares during the last quarter. Atria Investments LLC purchased a new stake in shares of Iradimed during the second quarter valued at about $49,696,000. HM Payson & Co. purchased a new stake in shares of Iradimed during the second quarter valued at about $89,000. Mondrian Investment Partners LTD lifted its position in shares of Iradimed by 33.0% during the second quarter. Mondrian Investment Partners LTD now owns 163,919 shares of the medical equipment provider’s stock valued at $3,352,000 after buying an additional 40,703 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Iradimed by 2.5% during the second quarter. Vanguard Group Inc. now owns 276,203 shares of the medical equipment provider’s stock valued at $5,649,000 after buying an additional 6,658 shares during the last quarter. 26.40% of the stock is owned by institutional investors and hedge funds.
IRADIMED CORPORATION develops, manufactures, markets, and distributes magnetic resonance imaging (MRI) compatible medical devices, and related accessories and services in the United States and internationally. It offers MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets; and MRI compatible patient vital signs monitoring system.
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