Iradimed (NASDAQ:IRMD) Receives “Buy” Rating from Roth Mkm

Iradimed (NASDAQ:IRMD)‘s stock had its “buy” rating reiterated by Roth Mkm in a research note issued on Friday,Benzinga reports. They currently have a $72.00 price target on the medical equipment provider’s stock, up from their prior price target of $60.00. Roth Mkm’s price target would indicate a potential upside of 29.45% from the company’s current price.

Separately, StockNews.com cut Iradimed from a “strong-buy” rating to a “buy” rating in a report on Thursday.

Iradimed Price Performance

Shares of NASDAQ IRMD traded up $0.21 during trading hours on Friday, hitting $55.62. 26,118 shares of the company’s stock were exchanged, compared to its average volume of 41,545. The stock has a market capitalization of $704.71 million, a price-to-earnings ratio of 38.10 and a beta of 0.82. The company’s 50-day moving average price is $57.16 and its 200-day moving average price is $52.02. Iradimed has a 1-year low of $40.18 and a 1-year high of $63.29.

Iradimed (NASDAQ:IRMD) last announced its quarterly earnings data on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.05). Iradimed had a return on equity of 23.99% and a net margin of 26.12%. On average, research analysts expect that Iradimed will post 1.52 earnings per share for the current year.

Insider Transactions at Iradimed

In other news, CFO John Glenn sold 2,500 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $54.18, for a total transaction of $135,450.00. Following the sale, the chief financial officer now owns 4,383 shares in the company, valued at approximately $237,470.94. This represents a 36.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 37.10% of the company’s stock.

Institutional Investors Weigh In On Iradimed

A number of hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new position in shares of Iradimed during the fourth quarter worth approximately $30,000. US Bancorp DE lifted its holdings in Iradimed by 476.6% during the 4th quarter. US Bancorp DE now owns 617 shares of the medical equipment provider’s stock worth $34,000 after buying an additional 510 shares in the last quarter. Huntington National Bank boosted its position in Iradimed by 51.3% in the 3rd quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider’s stock valued at $75,000 after buying an additional 504 shares during the last quarter. Gladius Capital Management LP increased its stake in shares of Iradimed by 126.6% in the 3rd quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider’s stock valued at $87,000 after buying an additional 965 shares during the period. Finally, Quantbot Technologies LP raised its position in shares of Iradimed by 83.0% during the third quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider’s stock worth $117,000 after acquiring an additional 1,052 shares during the last quarter. Institutional investors own 92.34% of the company’s stock.

Iradimed Company Profile

IRadimed Corp. engages in the development, manufacture, marketing, and distribution of Magnetic Resonance Imaging compatible medical devices. It also provides a non-magnetic Intravenous infusion pump system that is specifically designed for use during MRI procedures. The company was founded by Roger Susi in July 1992 and is headquartered in Winter Springs, FL.