Roth Capital Comments on iRadimed Corp.’s Q1 2017 Earnings (IRMD)
iRadimed Corp. (NASDAQ:IRMD) – Research analysts at Roth Capital issued their Q1 2017 earnings estimates for shares of iRadimed Corp. in a note issued to investors on Wednesday. Roth Capital analyst C. Lewis anticipates that the brokerage will earn $0.03 per share for the quarter. Roth Capital currently has a “Neutral” rating and a $11.50 target price on the stock. Roth Capital also issued estimates for iRadimed Corp.’s Q2 2017 earnings at $0.04 EPS, Q3 2017 earnings at $0.04 EPS, Q4 2017 earnings at $0.07 EPS and FY2017 earnings at $0.18 EPS.
Separately, Zacks Investment Research cut iRadimed Corp. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 5th.
Shares of iRadimed Corp. (NASDAQ:IRMD) opened at 10.32 on Friday. iRadimed Corp. has a 52 week low of $9.76 and a 52 week high of $33.25. The company has a 50-day moving average price of $16.91 and a 200 day moving average price of $18.07. The stock has a market capitalization of $110.14 million, a PE ratio of 14.83 and a beta of 1.28.
iRadimed Corp. (NASDAQ:IRMD) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The company had revenue of $9.90 million for the quarter, compared to analysts’ expectations of $9.60 million. iRadimed Corp. had a return on equity of 30.52% and a net margin of 24.52%. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 earnings per share.
In other news, VP Steven M. Nardi sold 2,096 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $17.11, for a total value of $35,862.56. Following the completion of the sale, the vice president now directly owns 1,996 shares of the company’s stock, valued at approximately $34,151.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 69.00% of the company’s stock.
Large investors have recently bought and sold shares of the stock. BlackRock Investment Management LLC raised its stake in iRadimed Corp. by 50.6% in the second quarter. BlackRock Investment Management LLC now owns 14,741 shares of the company’s stock valued at $321,000 after buying an additional 4,954 shares during the last quarter. BlackRock Advisors LLC raised its stake in iRadimed Corp. by 5.6% in the second quarter. BlackRock Advisors LLC now owns 8,343 shares of the company’s stock valued at $182,000 after buying an additional 443 shares during the last quarter. Vanguard Group Inc. raised its stake in iRadimed Corp. by 8.2% in the second quarter. Vanguard Group Inc. now owns 224,101 shares of the company’s stock valued at $4,876,000 after buying an additional 16,888 shares during the last quarter. Ameriprise Financial Inc. raised its stake in iRadimed Corp. by 0.9% in the second quarter. Ameriprise Financial Inc. now owns 59,830 shares of the company’s stock valued at $1,302,000 after buying an additional 530 shares during the last quarter. Finally, Mesirow Financial Investment Management Equity Management bought a new stake in iRadimed Corp. during the second quarter valued at about $273,000. 20.74% of the stock is owned by institutional investors and hedge funds.
iRadimed Corp. Company Profile
IRADIMED CORPORATION (IRADIMED) develops, manufactures, markets and distributes Magnetic Resonance Imaging (MRI) compatible products, and provides non-magnetic intravenous (IV) infusion pump systems. The Company operates through development, manufacture and sale of MRI compatible products and IV infusion pump systems for use by hospitals and acute care facilities during MRI procedures segment.
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