Iradimed (NASDAQ:IRMD) Issues Q2 2024 Earnings Guidance

Iradimed (NASDAQ:IRMD) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 0.360-0.390 for the period, compared to the consensus estimate of 0.370. The company issued revenue guidance of $17.6 million-$17.8 million, compared to the consensus revenue estimate of $17.9 million. Iradimed also updated its FY 2024 guidance to 1.520-1.620 EPS.

Iradimed Trading Up 1.9 %

NASDAQ IRMD traded up $0.82 on Friday, reaching $44.67. 23,531 shares of the stock were exchanged, compared to its average volume of 51,854. The company’s 50-day simple moving average is $42.58 and its two-hundred day simple moving average is $43.10. Iradimed has a one year low of $36.12 and a one year high of $51.04. The firm has a market capitalization of $565.52 million, a PE ratio of 32.85 and a beta of 0.86.

Iradimed (NASDAQ:IRMD) last posted its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Iradimed had a net margin of 26.22% and a return on equity of 24.62%. The company had revenue of $17.45 million during the quarter. Sell-side analysts forecast that Iradimed will post 1.39 earnings per share for the current fiscal year.

Iradimed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Monday, May 20th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, May 17th. This represents a $0.60 annualized dividend and a dividend yield of 1.34%. Iradimed’s payout ratio is currently 44.12%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IRMD. Roth Capital reiterated a buy rating on shares of Iradimed in a report on Monday, April 22nd. Roth Mkm restated a buy rating and set a $65.00 target price on shares of Iradimed in a research report on Monday, April 22nd. Finally, Singular Research restated a buy rating on shares of Iradimed in a research note on Monday, April 1st.

About Iradimed

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.