Iradimed (NASDAQ:IRMD) Receives Buy Rating from Roth Capital

Iradimed (NASDAQ:IRMD)‘s stock had its “buy” rating reiterated by Roth Capital 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 subject of a number of other research reports. Singular Research reiterated a “buy” rating on shares of Iradimed in a research report on Monday, April 1st. Roth Mkm reiterated a “buy” rating and set a $65.00 target price on shares of Iradimed in a research report on Monday.

Iradimed Stock Performance

IRMD opened at $42.44 on Monday. The firm has a market cap of $537.29 million, a P/E ratio of 31.21 and a beta of 0.82. The firm has a 50-day moving average of $42.92 and a 200 day moving average of $43.02. Iradimed has a fifty-two week low of $36.12 and a fifty-two week high of $51.04.

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 the consensus estimate of $0.37 by ($0.01). The company had revenue of $17.45 million for the quarter. Iradimed had a net margin of 26.22% and a return on equity of 24.62%. Equities research analysts predict that Iradimed will post 1.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Iradimed

Several hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management LLC lifted its position in Iradimed by 0.5% during the third quarter. Los Angeles Capital Management LLC now owns 53,301 shares of the medical equipment provider’s stock valued at $2,365,000 after purchasing an additional 279 shares during the last quarter. Riverwater Partners LLC lifted its position in Iradimed by 2.5% during the fourth quarter. Riverwater Partners LLC now owns 11,931 shares of the medical equipment provider’s stock valued at $566,000 after purchasing an additional 295 shares during the last quarter. Copeland Capital Management LLC bought a new stake in Iradimed during the third quarter valued at approximately $30,000. Aristides Capital LLC lifted its position in Iradimed by 7.3% during the fourth quarter. Aristides Capital LLC now owns 9,873 shares of the medical equipment provider’s stock valued at $469,000 after purchasing an additional 673 shares during the last quarter. Finally, Gladius Capital Management LP bought a new stake in Iradimed during the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 92.34% of the company’s stock.

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.