Shares of Iradimed Corp (NASDAQ:IRMD) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Brokers have set a 12-month consensus target price of $18.00 for the company and are forecasting that the company will post $0.06 EPS for the current quarter, according to Zacks. Zacks has also assigned Iradimed an industry rank of 183 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research cut shares of Iradimed from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th.
Iradimed (NASDAQ:IRMD) last issued its quarterly earnings data on Tuesday, February 6th. The medical equipment provider reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. Iradimed had a net margin of 2.17% and a return on equity of 3.03%. The firm had revenue of $6.70 million during the quarter, compared to the consensus estimate of $6.72 million. During the same quarter in the previous year, the firm posted $0.11 EPS. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. sell-side analysts expect that Iradimed will post 0.25 earnings per share for the current fiscal year.
In other Iradimed news, insider Louis S. Waldman sold 30,000 shares of the business’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $13.83, for a total value of $414,900.00. Following the sale, the insider now owns 5,221 shares in the company, valued at approximately $72,206.43. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 60.10% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Macquarie Group Ltd. raised its position in shares of Iradimed by 643.1% during the 4th quarter. Macquarie Group Ltd. now owns 8,204 shares of the medical equipment provider’s stock valued at $124,000 after buying an additional 7,100 shares in the last quarter. Stone Ridge Asset Management LLC bought a new position in Iradimed during the 4th quarter valued at about $396,000. Deutsche Bank AG grew its holdings in Iradimed by 820.3% during the 4th quarter. Deutsche Bank AG now owns 23,100 shares of the medical equipment provider’s stock valued at $349,000 after purchasing an additional 20,590 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Iradimed by 200.4% during the 4th quarter. Renaissance Technologies LLC now owns 47,770 shares of the medical equipment provider’s stock valued at $724,000 after purchasing an additional 31,870 shares during the last quarter. Finally, Ranger Investment Management L.P. bought a new position in Iradimed during the 4th quarter valued at about $238,000. Hedge funds and other institutional investors own 16.34% of the company’s stock.
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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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