Iradimed (NASDAQ:IRMD) Price Target Cut to $60.00 by Analysts at Roth Mkm

Iradimed (NASDAQ:IRMD) had its price target trimmed by Roth Mkm from $65.00 to $60.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a buy rating on the medical equipment provider’s stock.

Separately, Roth Capital restated a buy rating on shares of Iradimed in a research note on Monday, April 22nd.

Iradimed Stock Down 3.8 %

NASDAQ:IRMD traded down $1.75 during trading hours on Friday, hitting $44.40. 58,172 shares of the company traded hands, compared to its average volume of 48,105. The firm’s 50-day simple moving average is $44.25 and its 200-day simple moving average is $43.59. Iradimed has a one year low of $36.12 and a one year high of $50.93. The company has a market cap of $562.10 million, a PE ratio of 31.49 and a beta of 0.83.

Iradimed (NASDAQ:IRMD) last issued its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.05. Iradimed had a return on equity of 25.18% and a net margin of 26.83%. The business had revenue of $17.93 million for the quarter, compared to analysts’ expectations of $17.70 million. During the same period last year, the business earned $0.33 EPS. As a group, equities research analysts expect that Iradimed will post 1.41 EPS for the current year.

Iradimed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Tuesday, August 20th. Iradimed’s payout ratio is 42.55%.

Institutional Investors Weigh In On Iradimed

A number of hedge funds have recently made changes to their positions in IRMD. Isthmus Partners LLC raised its stake in shares of Iradimed by 880.8% during the 1st quarter. Isthmus Partners LLC now owns 71,905 shares of the medical equipment provider’s stock worth $3,163,000 after purchasing an additional 64,574 shares during the period. Liontrust Investment Partners LLP purchased a new stake in Iradimed in the 2nd quarter worth about $2,830,000. Roubaix Capital LLC purchased a new stake in Iradimed in the 1st quarter worth about $2,213,000. RK Capital Management LLC increased its holdings in Iradimed by 13.2% in the 4th 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. Finally, Kings Path Partners LLC purchased a new stake in Iradimed in the 2nd quarter worth about $1,055,000. 92.34% of the stock is currently owned by institutional investors.

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.