Equities Analysts Offer Predictions for Iradimed Corporation’s Q1 2024 Earnings (NASDAQ:IRMD)

Iradimed Corporation (NASDAQ:IRMD) – Equities research analysts at Roth Capital issued their Q1 2024 earnings estimates for Iradimed in a report issued on Monday, April 22nd. Roth Capital analyst J. Wittes anticipates that the medical equipment provider will earn $0.31 per share for the quarter. Roth Capital has a “Buy” rating on the stock. The consensus estimate for Iradimed’s current full-year earnings is $1.42 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.

A number of other analysts have also recently issued reports on the stock. Singular Research reissued a “buy” rating on shares of Iradimed in a research note on Monday, April 1st. Roth Mkm reissued a “buy” rating and issued a $65.00 price objective on shares of Iradimed in a research note on Monday.

Iradimed Price Performance

Shares of NASDAQ IRMD opened at $42.44 on Thursday. The firm has a fifty day moving average price of $42.92 and a 200-day moving average price of $43.02. The stock has a market cap of $537.29 million, a PE ratio of 31.21 and a beta of 0.82. Iradimed has a 1 year low of $36.12 and a 1 year high of $51.04.

Iradimed (NASDAQ:IRMD) last announced 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). Iradimed had a net margin of 26.22% and a return on equity of 24.62%. The business had revenue of $17.45 million for the quarter.

Institutional Trading of Iradimed

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Iradimed by 2.7% in the third quarter. Vanguard Group Inc. now owns 412,151 shares of the medical equipment provider’s stock worth $18,287,000 after purchasing an additional 10,932 shares in the last quarter. RK Capital Management LLC boosted its position in shares of Iradimed by 13.2% during the fourth quarter. RK Capital Management LLC now owns 340,400 shares of the medical equipment provider’s stock worth $16,159,000 after acquiring an additional 39,600 shares during the last quarter. Ranger Investment Management L.P. boosted its position in shares of Iradimed by 5.4% during the fourth quarter. Ranger Investment Management L.P. now owns 223,612 shares of the medical equipment provider’s stock worth $10,615,000 after acquiring an additional 11,465 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Iradimed by 2.3% during the fourth quarter. Russell Investments Group Ltd. now owns 211,288 shares of the medical equipment provider’s stock worth $10,030,000 after acquiring an additional 4,715 shares during the last quarter. Finally, Resource Consulting Group Inc. bought a new position in shares of Iradimed during the fourth quarter worth $4,889,000. 92.34% of the stock is owned by hedge funds and other institutional investors.

About Iradimed

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.