iRadimed (NASDAQ:IRMD) Hits New 1-Year Low - What's Next?

Key Points

• iRadimed shares hit a new 52-week low, falling to $76.38 from a prior close of $85.74. The stock trades below both its 50-day and 200-day moving averages.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $120 price target, despite mixed recent rating changes.
• The company met quarterly earnings expectations with EPS of $0.55, while reporting a 26.70% net margin. Institutional investors own 92.34% of the stock, and insiders own 34.60%.

iRadimed Corporation (NASDAQ:IRMD - Get Free Report) shares reached a new 52-week low during mid-day trading on Friday. The company traded as low as $76.38 and last traded at $76.81, with a volume of 142,452 shares changing hands. The stock had previously closed at $85.74.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Weiss Ratings raised iRadimed from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, October 16th. Wall Street Zen lowered iRadimed from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Needham & Company LLC started coverage on iRadimed in a research report on Tuesday, September 22nd. They issued a "hold" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, iRadimed presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.00.

iRadimed Stock Performance

The firm has a fifty day moving average price of $85.86 and a 200 day moving average price of $92.79. The firm has a market capitalization of $982.23 million, a price-to-earnings ratio of 43.08 and a beta of 0.91.

iRadimed (NASDAQ:IRMD - Get Free Report) last issued its quarterly earnings results on Friday, October 30th. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.55. iRadimed had a return on equity of 23.45% and a net margin of 26.70%. Research analysts predict that iRadimed Corporation will post 1.98 earnings per share for the current fiscal year.

Insider Transactions at iRadimed

In other iRadimed news, Director Monty K. Allen sold 1,419 shares of the business's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $86.41, for a total transaction of $122,615.79. Following the sale, the director directly owned 19,581 shares of the company's stock, valued at $1,691,994.21. The trade was a 6.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 34.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IRMD. Integrity Alliance LLC. bought a new stake in iRadimed during the 3rd quarter worth about $422,000. Bridge City Capital LLC lifted its holdings in shares of iRadimed by 36.5% during the 3rd quarter. Bridge City Capital LLC now owns 96,975 shares of the medical equipment provider's stock valued at $8,361,000 after purchasing an additional 25,932 shares in the last quarter. Inspire Investing LLC boosted its stake in iRadimed by 13.1% in the 3rd quarter. Inspire Investing LLC now owns 1,421 shares of the medical equipment provider's stock worth $123,000 after purchasing an additional 165 shares during the period. Kings Path Partners LLC acquired a new position in iRadimed during the third quarter worth $590,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of iRadimed by 49.6% in the third quarter. Nisa Investment Advisors LLC now owns 1,643 shares of the medical equipment provider's stock valued at $142,000 after buying an additional 545 shares in the last quarter. Institutional investors own 92.34% of the company's stock.

iRadimed Company Profile

iRadimed Corporation NASDAQ: IRMD develops, manufactures and sells medical devices designed for use during magnetic resonance imaging (MRI) procedures. The company focuses on solutions that allow clinicians to deliver intravenous medications and monitor patients safely while they are in or near an MRI scanner.

Its principal products include the MRidium MRI-compatible infusion pump systems, which are designed to administer intravenous fluids and medications without interfering with MRI operations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.