Iradimed (NASDAQ:IRMD) Rating Reiterated by Roth Capital

Roth Capital reaffirmed their buy rating on shares of Iradimed (NASDAQ:IRMD) in a research note issued to investors on Monday, Zacks.com reports. Roth Capital also issued estimates for Iradimed’s Q1 2024 earnings at $0.31 EPS, 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.

IRMD has been the subject of several other reports. Roth Mkm reissued a buy rating and set a $65.00 target price on shares of Iradimed in a research note on Monday. Singular Research reissued a buy rating on shares of Iradimed in a research note on Monday, April 1st.

Iradimed Price Performance

Iradimed stock opened at $41.47 on Monday. The firm has a 50 day simple moving average of $42.81 and a 200-day simple moving average of $43.01. The stock has a market capitalization of $525.01 million, a PE ratio of 30.49 and a beta of 0.82. Iradimed has a 12-month low of $36.12 and a 12-month high of $51.04.

Iradimed (NASDAQ:IRMD) last posted its quarterly earnings data on Thursday, February 8th. The medical equipment provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $17.45 million during the quarter. Iradimed had a net margin of 26.22% and a return on equity of 24.62%. On average, analysts forecast that Iradimed will post 1.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IRMD. Shaker Investments LLC OH grew its stake in Iradimed by 1.3% in the 1st quarter. Shaker Investments LLC OH now owns 20,258 shares of the medical equipment provider’s stock valued at $891,000 after buying an additional 258 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in Iradimed by 0.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 53,301 shares of the medical equipment provider’s stock valued at $2,365,000 after buying an additional 279 shares during the last quarter. Riverwater Partners LLC grew its stake in Iradimed by 2.5% in the 4th quarter. Riverwater Partners LLC now owns 11,931 shares of the medical equipment provider’s stock valued at $566,000 after buying an additional 295 shares during the last quarter. Copeland Capital Management LLC acquired a new position in Iradimed in the 3rd quarter valued at $30,000. Finally, Aristides Capital LLC grew its stake in Iradimed by 7.3% in the 4th quarter. Aristides Capital LLC now owns 9,873 shares of the medical equipment provider’s stock valued at $469,000 after buying an additional 673 shares during the last quarter. Institutional investors and hedge funds own 92.34% of the company’s stock.

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.