Iradimed (NASDAQ:IRMD) Upgraded at StockNews.com

StockNews.com upgraded shares of Iradimed (NASDAQ:IRMD) from a buy rating to a strong-buy rating in a report published on Friday.

Separately, Roth Mkm reaffirmed a “buy” rating and set a $72.00 target price (up from $60.00) on shares of Iradimed in a research report on Friday, February 14th.

Iradimed Stock Performance

Shares of IRMD opened at $56.24 on Friday. Iradimed has a 52 week low of $40.18 and a 52 week high of $63.29. The stock has a market capitalization of $712.56 million, a price-to-earnings ratio of 37.49 and a beta of 0.82. The stock has a fifty day moving average of $57.40 and a 200-day moving average of $52.61.

Iradimed (NASDAQ:IRMD) last announced its earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.05). Iradimed had a return on equity of 24.12% and a net margin of 26.26%. The company had revenue of $19.39 million for the quarter, compared to the consensus estimate of $19.09 million. As a group, equities analysts forecast that Iradimed will post 1.66 EPS for the current year.

Iradimed Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be issued a dividend of $0.17 per share. This is a positive change from Iradimed’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Monday, February 24th. Iradimed’s payout ratio is currently 40.00%.

Insider Activity at Iradimed

In related news, CFO John Glenn sold 2,500 shares of Iradimed stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $54.18, for a total transaction of $135,450.00. Following the transaction, the chief financial officer now owns 4,383 shares of the company’s stock, valued at $237,470.94. The trade was a 36.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 37.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IRMD. R Squared Ltd purchased a new position in Iradimed in the fourth quarter worth $30,000. US Bancorp DE boosted its position in Iradimed by 476.6% in the fourth quarter. US Bancorp DE now owns 617 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 510 shares during the last quarter. Huntington National Bank boosted its position in Iradimed by 51.3% in the third quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider’s stock worth $75,000 after purchasing an additional 504 shares during the last quarter. Gladius Capital Management LP boosted its position in Iradimed by 126.6% in the third quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider’s stock worth $87,000 after purchasing an additional 965 shares during the last quarter. Finally, Quantbot Technologies LP boosted its position in Iradimed by 83.0% in the third quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider’s stock worth $117,000 after purchasing an additional 1,052 shares during the last quarter. Hedge funds and other institutional investors own 92.34% of the company’s stock.

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.