iRadimed Corp. (IRMD) Issues Q3 Earnings Guidance
iRadimed Corp. (NASDAQ:IRMD) issued an update on its third quarter earnings guidance on Friday morning. The company provided earnings per share guidance of $0.11-0.12 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.11. The company issued revenue guidance of $7.5-7.6 million, compared to the consensus revenue estimate of $7.50 million.iRadimed Corp. also updated its FY16 guidance to $0.60-0.63 EPS.
Shares of iRadimed Corp. (NASDAQ:IRMD) traded down 1.15% during midday trading on Friday, hitting $9.44. 110,520 shares of the company’s stock were exchanged. iRadimed Corp. has a one year low of $9.36 and a one year high of $33.25. The firm has a market cap of $100.74 million, a PE ratio of 13.56 and a beta of 1.28. The stock’s 50-day moving average price is $15.99 and its 200 day moving average price is $17.82.
iRadimed Corp. (NASDAQ:IRMD) last released its quarterly earnings data on Friday, July 29th. The company reported $0.24 EPS for the quarter, topping the 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 had revenue of $9.90 million for the quarter, compared to analyst estimates of $9.60 million. During the same period in the previous year, the firm earned $0.16 EPS. The business’s revenue for the quarter was up 30.3% compared to the same quarter last year. Equities research analysts forecast that iRadimed Corp. will post $0.92 EPS for the current year.
Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of iRadimed Corp. from a strong-buy rating to a hold rating in a research report on Tuesday, July 5th. Roth Capital lowered shares of iRadimed Corp. from a buy rating to a neutral rating and decreased their price objective for the stock from $28.00 to $11.50 in a research report on Wednesday, October 5th.
In other iRadimed Corp. news, VP Steven M. Nardi sold 2,096 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $17.11, for a total value of $35,862.56. Following the transaction, the vice president now directly owns 1,996 shares in the company, valued at approximately $34,151.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 69.00% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IRMD. BlackRock Advisors LLC raised 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 period. Teachers Advisors Inc. raised 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 period. BlackRock Investment Management LLC raised its position in iRadimed Corp. by 50.6% in the second quarter. BlackRock Investment Management LLC now owns 14,741 shares of the company’s stock worth $321,000 after buying an additional 4,954 shares during the period. Menta Capital LLC raised its position in iRadimed Corp. by 23.9% in the second quarter. Menta Capital LLC now owns 41,919 shares of the company’s stock worth $912,000 after buying an additional 8,086 shares during the period. Finally, State Street Corp raised its position in iRadimed Corp. by 33.7% in the second quarter. State Street Corp now owns 42,082 shares of the company’s stock worth $917,000 after buying an additional 10,609 shares during the period. Institutional investors own 20.74% of the company’s stock.
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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