Iradimed (NASDAQ:IRMD) Receives Buy Rating from Roth Capital

Iradimed (NASDAQ:IRMD)‘s stock had its “buy” rating reiterated by equities researchers at Roth Capital in a report issued 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.

A number of other equities research analysts have also issued reports on IRMD. Singular Research reaffirmed a “buy” rating on shares of Iradimed in a research note on Monday, April 1st. Roth Mkm reissued a “buy” rating and set a $65.00 price target on shares of Iradimed in a research note on Monday.

Iradimed Price Performance

IRMD opened at $42.44 on Monday. The stock has a market cap of $537.29 million, a P/E ratio of 31.21 and a beta of 0.82. The stock’s 50 day simple moving average is $42.92 and its 200 day simple moving average is $43.02. Iradimed has a 1-year low of $36.12 and a 1-year high of $51.04.

Iradimed (NASDAQ:IRMD) last released its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The firm had revenue of $17.45 million during the quarter. Iradimed had a return on equity of 24.62% and a net margin of 26.22%. Research analysts expect that Iradimed will post 1.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IRMD. Hennion & Walsh Asset Management Inc. increased its holdings in Iradimed by 73.8% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 8,925 shares of the medical equipment provider’s stock valued at $393,000 after buying an additional 3,791 shares during the last quarter. Bridge City Capital LLC increased its holdings in Iradimed by 23.5% in the first quarter. Bridge City Capital LLC now owns 42,183 shares of the medical equipment provider’s stock valued at $1,856,000 after buying an additional 8,034 shares during the last quarter. Cim LLC bought a new stake in Iradimed in the fourth quarter valued at about $449,000. Ranger Investment Management L.P. increased its holdings in Iradimed by 5.4% in the fourth quarter. Ranger Investment Management L.P. now owns 223,612 shares of the medical equipment provider’s stock valued at $10,615,000 after buying an additional 11,465 shares during the last quarter. Finally, Aristides Capital LLC boosted its stake in Iradimed by 7.3% in the fourth quarter. Aristides Capital LLC now owns 9,873 shares of the medical equipment provider’s stock valued at $469,000 after acquiring an additional 673 shares during the period. 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.