Iradimed (NASDAQ:IRMD) Stock Rating Reaffirmed by Singular Research

Singular Research restated their buy rating on shares of Iradimed (NASDAQ:IRMD - Free Report) in a research report sent to investors on Monday, Zacks.com reports.

Iradimed Stock Performance

Shares of NASDAQ:IRMD traded up $1.25 on Monday, hitting $42.49. 42,863 shares of the company's stock were exchanged, compared to its average volume of 54,712. The firm's 50-day moving average is $43.72 and its 200 day moving average is $43.21. The company has a market capitalization of $538.05 million, a PE ratio of 31.24 and a beta of 0.82. Iradimed has a 1-year low of $36.12 and a 1-year high of $51.04.

Iradimed (NASDAQ:IRMD - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The medical equipment provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business 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%. On average, analysts anticipate that Iradimed will post 1.42 EPS for the current fiscal year.

Institutional Trading of Iradimed

Several institutional investors and hedge funds have recently made changes to their positions in IRMD. Resource Consulting Group Inc. purchased a new stake in shares of Iradimed in the 4th quarter valued at about $4,889,000. Soleus Capital Management L.P. lifted its holdings in shares of Iradimed by 8.8% in the 4th quarter. Soleus Capital Management L.P. now owns 745,004 shares of the medical equipment provider's stock valued at $21,076,000 after purchasing an additional 60,314 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Iradimed by 11.9% in the 2nd quarter. BlackRock Inc. now owns 495,965 shares of the medical equipment provider's stock valued at $23,677,000 after purchasing an additional 52,655 shares during the last quarter. Bares Capital Management Inc. lifted its holdings in shares of Iradimed by 21.1% in the 4th quarter. Bares Capital Management Inc. now owns 271,300 shares of the medical equipment provider's stock valued at $7,675,000 after purchasing an additional 47,298 shares during the last quarter. Finally, Millennium Management LLC raised its stake in Iradimed by 274.7% during the 4th quarter. Millennium Management LLC now owns 59,344 shares of the medical equipment provider's stock valued at $1,679,000 after acquiring an additional 43,507 shares during the last quarter. 92.34% of the stock is owned by hedge funds and other institutional investors.

Iradimed Company Profile

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.