Iradimed (NASDAQ:IRMD) Rating Increased to Strong-Buy at StockNews.com

by · The Markets Daily

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 issued a $72.00 price objective (up from $60.00) on shares of Iradimed in a research report on Friday, February 14th.

Check Out Our Latest Research Report on Iradimed

Iradimed Price Performance

NASDAQ IRMD opened at $51.02 on Tuesday. The business’s 50-day simple moving average is $52.20 and its 200-day simple moving average is $54.35. The firm has a market capitalization of $648.72 million, a P/E ratio of 34.01 and a beta of 0.91. Iradimed has a 1-year low of $41.60 and a 1-year high of $63.29.

Iradimed (NASDAQ:IRMD – Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.05). Iradimed had a return on equity of 24.12% and a net margin of 26.26%. The business had revenue of $19.39 million for the quarter, compared to analysts’ expectations of $19.09 million. On average, equities research analysts expect that Iradimed will post 1.66 EPS for the current fiscal year.

Iradimed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Tuesday, May 20th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.68 annualized dividend and a dividend yield of 1.33%. Iradimed’s dividend payout ratio (DPR) is presently 45.33%.

Institutional Trading of Iradimed

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Iradimed by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 536,811 shares of the medical equipment provider’s stock valued at $29,525,000 after acquiring an additional 22,762 shares during the last quarter. Copeland Capital Management LLC boosted its position in shares of Iradimed by 3.2% during the first quarter. Copeland Capital Management LLC now owns 490,544 shares of the medical equipment provider’s stock worth $25,744,000 after buying an additional 14,981 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Iradimed by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 227,257 shares of the medical equipment provider’s stock worth $12,499,000 after purchasing an additional 7,606 shares in the last quarter. Geode Capital Management LLC grew its position in Iradimed by 17.9% in the 4th quarter. Geode Capital Management LLC now owns 222,772 shares of the medical equipment provider’s stock valued at $12,255,000 after buying an additional 33,879 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Iradimed by 7.3% in the fourth quarter. Northern Trust Corp now owns 143,069 shares of the medical equipment provider’s stock valued at $7,869,000 after acquiring an additional 9,722 shares in the last quarter. 92.34% of the stock is currently owned by institutional investors and hedge funds.

About Iradimed

(Get Free Report)

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.

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