Analysts at Roth Capital began coverage on shares of iRadimed Corporation (NASDAQ:IRMD) in a report released on Tuesday. The brokerage set a “buy” rating and a $16.00 price target on the medical equipment provider’s stock. Roth Capital’s target price would suggest a potential upside of 17.22% from the company’s previous close.
A number of other analysts also recently weighed in on the company. ValuEngine upgraded iRadimed Corporation from a “sell” rating to a “hold” rating in a research report on Friday, October 6th. Zacks Investment Research downgraded iRadimed Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd.
iRadimed Corporation (IRMD) opened at 13.775 on Tuesday. The stock has a 50 day moving average price of $10.24 and a 200 day moving average price of $9.30. The firm has a market cap of $145.77 million, a P/E ratio of 57.636 and a beta of 1.48. iRadimed Corporation has a 1-year low of $7.85 and a 1-year high of $15.00.
iRadimed Corporation (NASDAQ:IRMD) last released its earnings results on Monday, October 30th. The medical equipment provider reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.04. The company had revenue of $5.69 million during the quarter, compared to the consensus estimate of $5.60 million. iRadimed Corporation had a return on equity of 8.98% and a net margin of 11.61%. iRadimed Corporation’s quarterly revenue was down 25.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS. On average, analysts anticipate that iRadimed Corporation will post $0.13 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in IRMD. Neuberger Berman Group LLC bought a new stake in iRadimed Corporation in the 1st quarter worth approximately $134,000. Citigroup Inc. lifted its position in iRadimed Corporation by 50.8% in the 2nd quarter. Citigroup Inc. now owns 16,082 shares of the medical equipment provider’s stock worth $138,000 after buying an additional 5,418 shares during the last quarter. Connors Investor Services Inc. lifted its position in iRadimed Corporation by 10.0% in the 2nd quarter. Connors Investor Services Inc. now owns 33,000 shares of the medical equipment provider’s stock worth $284,000 after buying an additional 3,000 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in iRadimed Corporation in the 1st quarter worth approximately $290,000. Finally, Federated Investors Inc. PA lifted its position in iRadimed Corporation by 7.5% in the 2nd quarter. Federated Investors Inc. PA now owns 40,400 shares of the medical equipment provider’s stock worth $347,000 after buying an additional 2,807 shares during the last quarter. Institutional investors own 14.11% of the company’s stock.
iRadimed Corporation Company Profile
IRADIMED CORPORATION (IRADIMED) develops, manufactures, markets and distributes Magnetic Resonance Imaging (MRI) compatible products, and provides non-magnetic intravenous (IV) infusion pump systems. The Company operates through development, manufacture and sale of MRI compatible products and IV infusion pump systems for use by hospitals and acute care facilities during MRI procedures segment.
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