Iradimed Corporation Forecasted to Earn Q1 2024 Earnings of $0.31 Per Share (NASDAQ:IRMD)

Iradimed Corporation (NASDAQ:IRMD) – Equities researchers at Roth Capital issued their Q1 2024 earnings per share (EPS) estimates for shares of Iradimed in a research report issued to clients and investors on Monday, April 22nd. Roth Capital analyst J. Wittes forecasts that the medical equipment provider will post earnings per share of $0.31 for the quarter. Roth Capital currently has a “Buy” rating on the stock. The consensus estimate for Iradimed’s current full-year earnings is $1.39 per share. Roth Capital also issued estimates for Iradimed’s Q2 2024 earnings at $0.35 EPS, Q3 2024 earnings at $0.34 EPS, Q4 2024 earnings at $0.39 EPS, FY2024 earnings at $1.39 EPS and FY2025 earnings at $1.72 EPS.

A number of other brokerages also recently weighed in on IRMD. Roth Mkm reissued a “buy” rating and issued a $65.00 price objective on shares of Iradimed in a research note on Monday, April 22nd. Singular Research reissued a “buy” rating on shares of Iradimed in a report on Monday, April 1st.

Iradimed Stock Performance

Shares of IRMD stock opened at $41.86 on Thursday. The stock’s 50 day simple moving average is $42.74 and its 200 day simple moving average is $43.01. Iradimed has a twelve month low of $36.12 and a twelve month high of $51.04. The company has a market capitalization of $529.95 million, a price-to-earnings ratio of 30.78 and a beta of 0.82.

Iradimed (NASDAQ:IRMD) last posted its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Iradimed had a return on equity of 24.62% and a net margin of 26.22%. The firm had revenue of $17.45 million for the quarter.

Institutional Trading of Iradimed

Several institutional investors have recently bought and sold shares of IRMD. Resource Consulting Group Inc. acquired a new stake in Iradimed in the 4th quarter valued at $4,889,000. RK Capital Management LLC grew its stake in shares of Iradimed by 13.2% during the fourth quarter. RK Capital Management LLC now owns 340,400 shares of the medical equipment provider’s stock worth $16,159,000 after purchasing an additional 39,600 shares during the period. Bridge City Capital LLC acquired a new stake in shares of Iradimed during the third quarter worth $1,250,000. Ballast Asset Management LP acquired a new position in Iradimed in the third quarter valued at about $1,113,000. Finally, Swiss National Bank acquired a new position in Iradimed in the third quarter valued at about $737,000. Institutional investors and hedge funds own 92.34% of the company’s stock.

Iradimed Company Profile

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.