Iradimed Corporation Forecasted to Earn Q1 2024 Earnings of $0.31 Per Share (NASDAQ:IRMD)

Iradimed Corporation (NASDAQ:IRMD) – Stock analysts at Roth Capital issued their Q1 2024 earnings estimates for shares of Iradimed in a research note issued to investors on Monday, April 22nd. Roth Capital analyst J. Wittes expects that the medical equipment provider will post earnings per share of $0.31 for the quarter. Roth Capital has a “Buy” rating on the stock. The consensus estimate for Iradimed’s current full-year earnings is $1.39 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.

Iradimed (NASDAQ:IRMD) last posted its earnings results on Thursday, February 8th. The medical equipment provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The business had revenue of $17.45 million for the quarter. Iradimed had a net margin of 26.22% and a return on equity of 24.62%.

A number of other research firms have also recently commented on IRMD. Roth Mkm reiterated a “buy” rating and issued a $65.00 target price on shares of Iradimed in a research note on Monday, April 22nd. Singular Research reiterated a “buy” rating on shares of Iradimed in a research note on Monday, April 1st.

Iradimed Stock Performance

NASDAQ IRMD opened at $41.86 on Thursday. The company’s 50-day simple moving average is $42.74 and its two-hundred day simple moving average is $43.01. Iradimed has a one year low of $36.12 and a one year high of $51.04. The company has a market capitalization of $529.95 million, a price-to-earnings ratio of 30.78 and a beta of 0.82.

Institutional Investors Weigh In On Iradimed

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Capital Management LLC purchased a new stake in shares of Iradimed during the third quarter worth $548,000. Hsbc Holdings PLC purchased a new position in Iradimed in the third quarter valued at approximately $251,000. Resource Consulting Group Inc. purchased a new position in Iradimed in the fourth quarter valued at approximately $4,889,000. Bank of New York Mellon Corp increased its stake in Iradimed by 2.6% in the third quarter. Bank of New York Mellon Corp now owns 55,540 shares of the medical equipment provider’s stock valued at $2,464,000 after purchasing an additional 1,389 shares during the last quarter. Finally, Strs Ohio grew its position in shares of Iradimed by 8.5% during the third quarter. Strs Ohio now owns 12,800 shares of the medical equipment provider’s stock worth $567,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 92.34% of the company’s stock.

Iradimed Company Profile

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.