Iradimed (NASDAQ:IRMD) Rating Reiterated by Roth Capital

Iradimed (NASDAQ:IRMD)‘s stock had its “buy” rating reissued by equities research analysts at Roth Capital in a report issued 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.

Several other equities research analysts have also recently weighed in 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. Singular Research reiterated a “buy” rating on shares of Iradimed in a research note on Monday, April 1st.

Iradimed Stock Up 1.3 %

Shares of NASDAQ:IRMD opened at $42.44 on Monday. Iradimed has a 12-month low of $36.12 and a 12-month high of $51.04. The company has a market cap of $537.29 million, a P/E ratio of 31.21 and a beta of 0.82. The company’s fifty day moving average is $42.92 and its two-hundred day moving average is $43.02.

Iradimed (NASDAQ:IRMD) last posted its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Iradimed had a return on equity of 24.62% and a net margin of 26.22%. The company had revenue of $17.45 million during the quarter. Equities research analysts anticipate that Iradimed will post 1.42 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IRMD. Copeland Capital Management LLC acquired a new position in Iradimed in the third quarter worth about $30,000. Shaker Investments LLC OH raised its position in Iradimed by 76.7% in the third quarter. Shaker Investments LLC OH now owns 12,919 shares of the medical equipment provider’s stock worth $573,000 after purchasing an additional 5,609 shares in the last quarter. Bank of New York Mellon Corp raised its position 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 worth $2,464,000 after purchasing an additional 1,389 shares in the last quarter. Strs Ohio raised its position in Iradimed by 8.5% in the third quarter. Strs Ohio now owns 12,800 shares of the medical equipment provider’s stock worth $567,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Rice Hall James & Associates LLC raised its position in Iradimed by 20.1% in the third quarter. Rice Hall James & Associates LLC now owns 77,506 shares of the medical equipment provider’s stock worth $3,439,000 after purchasing an additional 12,960 shares in the last quarter. Institutional investors and hedge funds 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.