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

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

Separately, Roth Mkm restated 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 Trading Down 0.1 %

Shares of IRMD stock traded down $0.05 during midday trading on Tuesday, reaching $53.24. 44,672 shares of the stock were exchanged, compared to its average volume of 41,914. The firm has a market cap of $674.71 million, a PE ratio of 35.49 and a beta of 0.82. The company’s 50 day moving average is $57.52 and its two-hundred day moving average is $53.04. Iradimed has a 1 year low of $40.18 and a 1 year high of $63.29.

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

Hedge Funds Weigh In On Iradimed

Hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Iradimed by 189.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 66,632 shares of the medical equipment provider’s stock valued at $3,351,000 after buying an additional 43,635 shares during the period. Eagle Asset Management Inc. bought a new position in Iradimed in the 3rd quarter worth $1,239,000. JPMorgan Chase & Co. raised its holdings in Iradimed by 70.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 29,226 shares of the medical equipment provider’s stock worth $1,470,000 after purchasing an additional 12,051 shares during the period. Barclays PLC raised its holdings in Iradimed by 113.9% in the 3rd quarter. Barclays PLC now owns 23,774 shares of the medical equipment provider’s stock worth $1,196,000 after purchasing an additional 12,657 shares during the period. Finally, Principal Financial Group Inc. bought a new position in Iradimed in the 3rd quarter worth $246,000. 92.34% of the stock is owned by institutional investors.

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.