Brokers Issue Forecasts for Iradimed Corporation's Q1 2024 Earnings (NASDAQ:IRMD)

Iradimed Corporation (NASDAQ:IRMD - Free Report) - Analysts at Roth Capital issued their Q1 2024 earnings per share (EPS) estimates for shares of Iradimed in a research note issued to investors on Monday, April 22nd. Roth Capital analyst J. Wittes forecasts that the medical equipment provider will post earnings per share of $0.31 for the quarter. Roth Capital currently has a "Buy" rating on the stock. The consensus estimate for Iradimed's current full-year earnings is $1.42 per share. Roth Capital also issued estimates for Iradimed's 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.

Iradimed (NASDAQ:IRMD - Get Free Report) last posted its earnings results on Thursday, February 8th. The medical equipment provider reported $0.36 EPS 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 return on equity of 24.62% and a net margin of 26.22%.

Several other equities analysts also recently issued reports on IRMD. 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 issued a $65.00 price objective on shares of Iradimed in a research report on Monday.

Iradimed Stock Down 2.3 %

IRMD traded down $0.97 during trading on Thursday, hitting $41.47. The company's stock had a trading volume of 43,641 shares, compared to its average volume of 51,732. The firm's 50 day moving average price is $42.81 and its two-hundred day moving average price is $43.01. Iradimed has a 12 month low of $36.12 and a 12 month high of $51.04. The stock has a market capitalization of $525.01 million, a price-to-earnings ratio of 30.49 and a beta of 0.82.

Institutional Investors Weigh In On Iradimed

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Capital Management LLC acquired a new stake in shares of Iradimed in the 3rd quarter valued at $548,000. Hsbc Holdings PLC acquired a new stake in shares of Iradimed in the 3rd quarter valued at $251,000. Resource Consulting Group Inc. acquired a new stake in shares of Iradimed in the 4th quarter valued at $4,889,000. Bank of New York Mellon Corp increased its stake in shares of Iradimed by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 55,540 shares of the medical equipment provider's stock valued at $2,464,000 after buying an additional 1,389 shares during the period. Finally, Strs Ohio increased its stake in shares of Iradimed by 8.5% in the 3rd quarter. Strs Ohio now owns 12,800 shares of the medical equipment provider's stock valued at $567,000 after buying an additional 1,000 shares during the period. 92.34% of the stock is owned by institutional investors and hedge funds.

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.