Iradimed (NASDAQ:IRMD) Updates FY 2024 Earnings Guidance

Iradimed (NASDAQ:IRMD) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.640-1.670 for the period, compared to the consensus earnings per share estimate of 1.560. The company issued revenue guidance of $72.7 million-$73.1 million, compared to the consensus revenue estimate of $72.6 million. Iradimed also updated its Q4 2024 guidance to 0.420-0.450 EPS.

Iradimed Stock Down 2.0 %

Shares of IRMD traded down $0.97 during midday trading on Friday, hitting $48.30. The company had a trading volume of 32,944 shares, compared to its average volume of 28,110. The company’s 50 day moving average price is $48.98 and its 200 day moving average price is $45.56. The stock has a market cap of $611.96 million, a price-to-earnings ratio of 33.08 and a beta of 0.79. Iradimed has a 52 week low of $39.24 and a 52 week high of $53.99.

Iradimed (NASDAQ:IRMD) last released its earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.05. The company had revenue of $17.93 million during the quarter, compared to the consensus estimate of $17.70 million. Iradimed had a net margin of 26.12% and a return on equity of 24.59%. During the same quarter in the previous year, the firm earned $0.33 EPS. Equities analysts anticipate that Iradimed will post 1.47 EPS for the current fiscal year.

Iradimed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 15th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, November 15th. Iradimed’s dividend payout ratio (DPR) is presently 41.10%.

Wall Street Analyst Weigh In

Separately, Roth Mkm decreased their price target on shares of Iradimed from $65.00 to $60.00 and set a “buy” rating for the company in a report on Friday, August 2nd.

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.