Iradimed (NASDAQ:IRMD) Earns “Buy” Rating from Roth Capital

Roth Capital restated their buy rating on shares of Iradimed (NASDAQ:IRMD) in a report released on Monday, Zacks.com reports. Roth Capital also issued estimates for Iradimed’s Q1 2024 earnings at $0.31 EPS, 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.

IRMD has been the topic of several other reports. Singular Research reiterated 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 target on shares of Iradimed in a report on Monday.

Iradimed Trading Up 1.3 %

IRMD opened at $42.44 on Monday. The company has a 50 day moving average of $42.92 and a 200 day moving average of $43.02. The company has a market cap of $537.29 million, a PE ratio of 31.21 and a beta of 0.82. Iradimed has a 12 month low of $36.12 and a 12 month high of $51.04.

Iradimed (NASDAQ:IRMD) last released its quarterly earnings data on Thursday, February 8th. The medical equipment provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business had revenue of $17.45 million during the quarter. Iradimed had a return on equity of 24.62% and a net margin of 26.22%. Research analysts forecast that Iradimed will post 1.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Copeland Capital Management LLC bought a new position in Iradimed in the 3rd quarter valued at $30,000. Gladius Capital Management LP bought a new stake in shares of Iradimed during the 3rd quarter worth $36,000. AJOVista LLC bought a new stake in shares of Iradimed during the 4th quarter worth $66,000. Hsbc Holdings PLC bought a new stake in shares of Iradimed during the 3rd quarter worth $251,000. Finally, Summit Global Investments lifted its holdings in shares of Iradimed by 22.5% during the 4th quarter. Summit Global Investments now owns 7,088 shares of the medical equipment provider’s stock worth $336,000 after acquiring an additional 1,300 shares during the last quarter. 92.34% of the stock is owned by 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.