Iradimed's (IRMD) "Buy" Rating Reaffirmed at Roth Capital

Iradimed (NASDAQ:IRMD - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Roth Capital in a report released on Monday, Zacks.com reports. Roth Capital also issued estimates for Iradimed's Q1 2024 earnings at $0.31 EPS, 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.

Other equities analysts have also issued research reports about the stock. Singular Research restated a "buy" rating on shares of Iradimed in a report on Monday, April 1st. Roth Mkm reiterated a "buy" rating and set a $65.00 price objective on shares of Iradimed in a report on Monday.

Iradimed Price Performance

Shares of Iradimed stock traded down $0.97 during trading on Monday, hitting $41.47. The company's stock had a trading volume of 43,641 shares, compared to its average volume of 51,732. Iradimed has a 52 week low of $36.12 and a 52 week high of $51.04. The stock has a market cap of $525.01 million, a price-to-earnings ratio of 30.49 and a beta of 0.82. The stock has a 50-day moving average price of $42.81 and a two-hundred day moving average price of $43.01.

Iradimed (NASDAQ:IRMD - Get Free Report) last released its earnings results 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 firm had revenue of $17.45 million during the quarter. Iradimed had a net margin of 26.22% and a return on equity of 24.62%. On average, equities analysts predict that Iradimed will post 1.42 EPS for the current fiscal year.

Institutional Trading of Iradimed

A number of institutional investors have recently modified their holdings of IRMD. Resource Consulting Group Inc. purchased a new stake in shares of Iradimed during the 4th quarter valued at approximately $4,889,000. RK Capital Management LLC lifted its stake in Iradimed by 13.2% in the 4th quarter. RK Capital Management LLC now owns 340,400 shares of the medical equipment provider's stock worth $16,159,000 after purchasing an additional 39,600 shares in the last quarter. Bridge City Capital LLC purchased a new stake in Iradimed in the 3rd quarter worth approximately $1,250,000. Ballast Asset Management LP purchased a new stake in shares of Iradimed during the 3rd quarter valued at $1,113,000. Finally, Swiss National Bank purchased a new stake in shares of Iradimed during the 3rd quarter valued at $737,000. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

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.