Iradimed (NASDAQ:IRMD) Downgraded by ValuEngine

ValuEngine cut shares of Iradimed (NASDAQ:IRMD) from a hold rating to a sell rating in a research report report published on Thursday morning, ValuEngine reports.

Several other equities analysts have also weighed in on IRMD. BidaskClub upgraded shares of Zogenix from a sell rating to a hold rating in a report on Thursday, May 9th. Zacks Investment Research upgraded shares of HB Fuller from a sell rating to a hold rating in a report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $31.50.

NASDAQ:IRMD opened at $18.06 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 9.48 and a quick ratio of 8.63. The firm has a market cap of $201.50 million, a price-to-earnings ratio of 38.43 and a beta of 1.64. The company’s fifty day simple moving average is $20.41. Iradimed has a twelve month low of $17.64 and a twelve month high of $38.78.

Iradimed (NASDAQ:IRMD) last posted its earnings results on Tuesday, April 30th. The medical equipment provider reported $0.11 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.11. The business had revenue of $8.44 million for the quarter, compared to analyst estimates of $8.38 million. Iradimed had a net margin of 23.00% and a return on equity of 13.98%. Equities research analysts forecast that Iradimed will post 0.64 EPS for the current year.

In other Iradimed news, VP Brent Johnson sold 2,000 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $22.53, for a total value of $45,060.00. Following the transaction, the vice president now owns 4,368 shares in the company, valued at approximately $98,411.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 28,000 shares of company stock worth $587,710 in the last quarter. 56.80% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Ranger Investment Management L.P. lifted its holdings in Iradimed by 13.3% in the 4th quarter. Ranger Investment Management L.P. now owns 190,226 shares of the medical equipment provider’s stock worth $4,653,000 after buying an additional 22,341 shares in the last quarter. Cadence Capital Management LLC raised its stake in shares of Iradimed by 64.7% in the 1st quarter. Cadence Capital Management LLC now owns 129,955 shares of the medical equipment provider’s stock valued at $3,650,000 after purchasing an additional 51,050 shares in the last quarter. RK Capital Management LLC acquired a new stake in shares of Iradimed in the 1st quarter valued at about $3,648,000. Spark Investment Management LLC raised its stake in shares of Iradimed by 86.4% in the 1st quarter. Spark Investment Management LLC now owns 56,100 shares of the medical equipment provider’s stock valued at $1,575,000 after purchasing an additional 26,000 shares in the last quarter. Finally, Fiera Capital Corp acquired a new stake in shares of Iradimed in the 1st quarter valued at about $1,442,000. Hedge funds and other institutional investors own 23.53% 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 services in the United States and internationally. It offers MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets; and MRI compatible patient vital signs monitoring system.

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