Iradimed (NASDAQ:IRMD) Rating Lowered to Buy at StockNews.com

by · The Cerbat Gem

StockNews.com cut shares of Iradimed (NASDAQ:IRMD – Free Report) from a strong-buy rating to a buy rating in a report released on Thursday morning.

Separately, Roth Mkm reissued a “buy” rating and issued a $72.00 price target (up from $60.00) on shares of Iradimed in a report on Friday, February 14th.

View Our Latest Report on Iradimed

Iradimed Stock Down 2.6 %

IRMD stock opened at $51.44 on Thursday. The company has a market capitalization of $654.06 million, a P/E ratio of 34.29 and a beta of 0.83. The company has a 50-day simple moving average of $57.15 and a 200 day simple moving average of $53.35. Iradimed has a fifty-two week low of $40.18 and a fifty-two week high of $63.29.

Iradimed (NASDAQ:IRMD – Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share 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 company had revenue of $19.39 million during the quarter, compared to analyst estimates of $19.09 million. Equities analysts anticipate that Iradimed will post 1.66 EPS for the current year.

Iradimed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.32%. The ex-dividend date was Monday, February 24th. This is an increase from Iradimed’s previous quarterly dividend of $0.15. Iradimed’s payout ratio is presently 45.33%.

Institutional Trading of Iradimed

Several institutional investors and hedge funds have recently bought and sold shares of IRMD. Principal Financial Group Inc. acquired a new stake in Iradimed during the 3rd quarter worth about $246,000. Huntington National Bank raised its holdings in Iradimed by 51.3% during the 3rd quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider’s stock worth $75,000 after buying an additional 504 shares during the period. Gladius Capital Management LP raised its holdings in Iradimed by 126.6% during the 3rd quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider’s stock worth $87,000 after buying an additional 965 shares during the period. Quest Partners LLC raised its holdings in Iradimed by 32.9% during the 3rd quarter. Quest Partners LLC now owns 13,071 shares of the medical equipment provider’s stock worth $657,000 after buying an additional 3,236 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Iradimed by 54.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,385 shares of the medical equipment provider’s stock worth $673,000 after buying an additional 4,708 shares during the period. Institutional investors and hedge funds own 92.34% of the company’s stock.

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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