Iradimed (NASDAQ:IRMD) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Iradimed (NASDAQ:IRMD - Free Report) from a buy rating to a strong-buy rating in a report issued on Tuesday.

Separately, Roth Mkm reissued a "buy" rating and set a $72.00 price target (up from $60.00) on shares of Iradimed in a report on Friday, February 14th.

Iradimed Trading Down 1.7 %

Shares of IRMD stock traded down $0.88 during midday trading on Tuesday, reaching $51.79. 24,445 shares of the stock were exchanged, compared to its average volume of 43,568. Iradimed has a 1 year low of $41.60 and a 1 year high of $63.29. The firm has a market cap of $658.51 million, a PE ratio of 34.53 and a beta of 0.91. The company's 50 day moving average is $52.10 and its two-hundred day moving average is $54.37.

Iradimed (NASDAQ:IRMD - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.05). The company had revenue of $19.39 million during the quarter, compared to analysts' expectations of $19.09 million. Iradimed had a return on equity of 24.12% and a net margin of 26.26%. As a group, equities analysts expect that Iradimed will post 1.66 EPS for the current fiscal year.

Iradimed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Tuesday, May 20th will be issued a $0.17 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.31%. Iradimed's dividend payout ratio is presently 43.87%.

Hedge Funds Weigh In On Iradimed

Several institutional investors and hedge funds have recently modified their holdings of the company. First Horizon Advisors Inc. increased its holdings in Iradimed by 78.7% in the 1st quarter. First Horizon Advisors Inc. now owns 513 shares of the medical equipment provider's stock valued at $27,000 after purchasing an additional 226 shares in the last quarter. R Squared Ltd bought a new position in Iradimed in the 4th quarter worth approximately $30,000. US Bancorp DE boosted its holdings in shares of Iradimed by 476.6% in the fourth quarter. US Bancorp DE now owns 617 shares of the medical equipment provider's stock valued at $34,000 after acquiring an additional 510 shares in the last quarter. Huntington National Bank boosted its stake in Iradimed by 34.0% during the fourth quarter. Huntington National Bank now owns 1,993 shares of the medical equipment provider's stock valued at $110,000 after buying an additional 506 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Iradimed during the third quarter valued at approximately $126,000. Hedge funds and other institutional investors own 92.34% of the company's stock.

About Iradimed

IRadimed Corp. engages in the development, manufacture, marketing, and distribution of Magnetic Resonance Imaging compatible medical devices. It also provides a non-magnetic Intravenous infusion pump system that is specifically designed for use during MRI procedures. The company was founded by Roger Susi in July 1992 and is headquartered in Winter Springs, FL.