Iradimed (IRMD) Upgraded by ValuEngine to “Strong-Buy”

ValuEngine upgraded shares of Iradimed (NASDAQ:IRMD) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday.

A number of other research firms also recently issued reports on IRMD. BidaskClub upgraded shares of Iradimed from a buy rating to a strong-buy rating in a research report on Wednesday, September 12th. Roth Capital set a $35.00 price target on shares of Iradimed and gave the company a buy rating in a research note on Thursday, September 20th. Finally, TheStreet upgraded shares of Iradimed from a c+ rating to a b- rating in a research note on Monday, August 27th. Three equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of Buy and an average target price of $24.67.

Iradimed stock opened at $33.90 on Friday. Iradimed has a 12-month low of $9.40 and a 12-month high of $34.25. The firm has a market cap of $357.25 million, a P/E ratio of 426.88 and a beta of 1.49.

Iradimed (NASDAQ:IRMD) last released its earnings results on Tuesday, July 31st. The medical equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.04. Iradimed had a net margin of 9.57% and a return on equity of 8.99%. The company had revenue of $7.38 million for the quarter, compared to the consensus estimate of $7.26 million. research analysts expect that Iradimed will post 0.37 earnings per share for the current fiscal year.

In other Iradimed news, VP Francis X. Casey sold 55,000 shares of the business’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $29.30, for a total transaction of $1,611,500.00. Following the completion of the sale, the vice president now owns 98,779 shares in the company, valued at approximately $2,894,224.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher K. Scott sold 96,250 shares of the business’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $26.05, for a total transaction of $2,507,312.50. Following the sale, the chief financial officer now owns 32,398 shares of the company’s stock, valued at approximately $843,967.90. The disclosure for this sale can be found here. Insiders have sold a total of 231,556 shares of company stock valued at $6,209,841 in the last 90 days. 61.20% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in IRMD. Bank of America Corp DE increased its stake in Iradimed by 3,722.5% during the 2nd quarter. Bank of America Corp DE now owns 14,793 shares of the medical equipment provider’s stock valued at $307,000 after purchasing an additional 14,406 shares in the last quarter. Northern Trust Corp grew its stake in shares of Iradimed by 27.9% in the 1st quarter. Northern Trust Corp now owns 26,791 shares of the medical equipment provider’s stock worth $386,000 after acquiring an additional 5,850 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Iradimed by 46.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 22,588 shares of the medical equipment provider’s stock worth $469,000 after acquiring an additional 7,156 shares in the last quarter. EAM Investors LLC grew its stake in shares of Iradimed by 25.0% in the 2nd quarter. EAM Investors LLC now owns 36,774 shares of the medical equipment provider’s stock worth $763,000 after acquiring an additional 7,348 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Iradimed by 68.8% in the 1st quarter. Russell Investments Group Ltd. now owns 59,118 shares of the medical equipment provider’s stock worth $834,000 after acquiring an additional 24,097 shares in the last quarter. Institutional investors and hedge funds own 19.86% of the company’s stock.

Iradimed Company Profile

IRadimed Corporation develops, manufactures, markets, and distributes magnetic resonance imaging (MRI) compatible medical devices, and related accessories and services in the United States and internationally. It offers MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets under the MRidium name; and MRI compatible patient vital signs monitoring system under the IRadimed name.

Further Reading: Marijuana Stocks

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Iradimed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iradimed and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply