iRadimed Corp. (IRMD) Downgraded by Roth Capital
Roth Capital downgraded shares of iRadimed Corp. (NASDAQ:IRMD) from a buy rating to a neutral rating in a report released on Wednesday morning. The brokerage currently has $11.50 price objective on the stock, down from their previous price objective of $28.00.
Separately, Zacks Investment Research cut shares of iRadimed Corp. from a strong-buy rating to a hold rating in a report on Tuesday, July 5th.
iRadimed Corp. (NASDAQ:IRMD) traded up 1.94% on Wednesday, hitting $10.52. 25,622 shares of the company’s stock traded hands. The stock has a 50-day moving average of $16.91 and a 200-day moving average of $18.07. The stock has a market cap of $112.27 million, a PE ratio of 15.11 and a beta of 1.28. iRadimed Corp. has a one year low of $9.76 and a one year high of $33.25.
iRadimed Corp. (NASDAQ:IRMD) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.03. iRadimed Corp. had a net margin of 24.52% and a return on equity of 30.52%. The business earned $9.90 million during the quarter, compared to the consensus estimate of $9.60 million. During the same period in the previous year, the firm posted $0.16 earnings per share. The business’s revenue for the quarter was up 30.3% compared to the same quarter last year. On average, equities analysts forecast that iRadimed Corp. will post $0.92 earnings per share for the current fiscal year.
In related news, VP Steven M. Nardi sold 2,096 shares of the firm’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $17.11, for a total transaction of $35,862.56. Following the completion of the transaction, the vice president now owns 1,996 shares of the company’s stock, valued at $34,151.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 69.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IRMD. Teachers Advisors Inc. boosted its position in iRadimed Corp. by 43.3% in the second quarter. Teachers Advisors Inc. now owns 5,670 shares of the company’s stock worth $123,000 after buying an additional 1,712 shares during the last quarter. BlackRock Advisors LLC boosted its position in iRadimed Corp. by 5.6% in the second quarter. BlackRock Advisors LLC now owns 8,343 shares of the company’s stock worth $182,000 after buying an additional 443 shares during the last quarter. California State Teachers Retirement System boosted its position in iRadimed Corp. by 39.6% in the second quarter. California State Teachers Retirement System now owns 8,484 shares of the company’s stock worth $185,000 after buying an additional 2,405 shares during the last quarter. Mesirow Financial Investment Management Equity Management purchased a new position in iRadimed Corp. during the second quarter worth $273,000. Finally, Schwab Charles Investment Management Inc. purchased a new position in iRadimed Corp. during the second quarter worth $290,000. 20.74% of the stock is owned by institutional investors.
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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