Iradimed (NASDAQ:IRMD) Downgraded by StockNews.com to Buy

Iradimed (NASDAQ:IRMD) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Tuesday.

Separately, Roth Mkm reiterated a “buy” rating and issued a $72.00 price target (up previously from $60.00) on shares of Iradimed in a research note on Friday, February 14th.

Iradimed Stock Down 0.1 %

IRMD stock traded down $0.05 during trading on Tuesday, reaching $53.24. The company’s stock had a trading volume of 44,672 shares, compared to its average volume of 41,914. Iradimed has a 1 year low of $40.18 and a 1 year high of $63.29. The company has a market capitalization of $674.71 million, a P/E ratio of 35.49 and a beta of 0.82. The company’s fifty day moving average is $57.52 and its 200-day moving average is $53.04.

Iradimed (NASDAQ:IRMD) last issued its quarterly earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.05). Iradimed had a return on equity of 24.12% and a net margin of 26.26%. The business had revenue of $19.39 million during the quarter, compared to analysts’ expectations of $19.09 million. Analysts anticipate that Iradimed will post 1.66 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Iradimed by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 536,811 shares of the medical equipment provider’s stock valued at $29,525,000 after purchasing an additional 22,762 shares in the last quarter. Copeland Capital Management LLC grew its position in Iradimed by 12.6% in the fourth quarter. Copeland Capital Management LLC now owns 475,563 shares of the medical equipment provider’s stock worth $26,156,000 after acquiring an additional 53,138 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Iradimed by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 227,257 shares of the medical equipment provider’s stock worth $12,499,000 after acquiring an additional 7,606 shares in the last quarter. Geode Capital Management LLC grew its position in Iradimed by 17.9% in the fourth quarter. Geode Capital Management LLC now owns 222,772 shares of the medical equipment provider’s stock worth $12,255,000 after acquiring an additional 33,879 shares in the last quarter. Finally, Northern Trust Corp grew its position in Iradimed by 7.3% in the fourth quarter. Northern Trust Corp now owns 143,069 shares of the medical equipment provider’s stock worth $7,869,000 after acquiring an additional 9,722 shares in the last quarter. Hedge funds and other institutional investors own 92.34% of the company’s stock.

About Iradimed

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.