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 released on Tuesday.

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

Iradimed Trading Up 3.3 %

IRMD stock opened at $52.67 on Tuesday. The stock has a market capitalization of $669.70 million, a P/E ratio of 35.11 and a beta of 0.91. The firm has a 50-day moving average price of $52.13 and a 200-day moving average price of $54.33. Iradimed has a 12 month low of $41.60 and a 12 month high of $63.29.

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

Iradimed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Tuesday, May 20th will be given a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.29%. Iradimed’s dividend payout ratio (DPR) is presently 43.87%.

Hedge Funds Weigh In On Iradimed

Hedge funds have recently made changes to their positions in the stock. Barclays PLC raised its holdings in Iradimed by 113.9% during the 3rd quarter. Barclays PLC now owns 23,774 shares of the medical equipment provider’s stock worth $1,196,000 after purchasing an additional 12,657 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Iradimed during the 3rd quarter valued at about $126,000. Principal Financial Group Inc. acquired a new stake in Iradimed during the third quarter worth approximately $246,000. JPMorgan Chase & Co. increased its holdings in Iradimed by 70.2% in the third quarter. JPMorgan Chase & Co. now owns 29,226 shares of the medical equipment provider’s stock worth $1,470,000 after purchasing an additional 12,051 shares in the last quarter. Finally, Albert D Mason Inc. lifted its stake in Iradimed by 15.5% in the fourth quarter. Albert D Mason Inc. now owns 16,936 shares of the medical equipment provider’s stock valued at $931,000 after buying an additional 2,277 shares during the period. 92.34% of the stock is currently owned by institutional investors.

About Iradimed

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.