Shares of Iradimed Corp (NASDAQ:IRMD) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $31.14 and last traded at $30.60, with a volume of 5653 shares. The stock had previously closed at $30.35.
A number of analysts have issued reports on IRMD shares. TheStreet raised Iradimed from a “c+” rating to a “b-” rating in a report on Monday, August 27th. BidaskClub downgraded Iradimed from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 30th. Finally, Roth Capital lifted their price target on Iradimed from $21.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $21.67.
The firm has a market capitalization of $320.40 million, a PE ratio of 376.25 and a beta of 1.49.
Iradimed (NASDAQ:IRMD) last posted its earnings results on Tuesday, July 31st. The medical equipment provider reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.04. Iradimed had a return on equity of 8.99% and a net margin of 9.57%. The business had revenue of $7.38 million for the quarter, compared to analysts’ expectations of $7.26 million. sell-side analysts predict that Iradimed Corp will post 0.37 EPS for the current fiscal year.
In other news, insider Louis S. Waldman sold 35,000 shares of Iradimed stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $26.06, for a total transaction of $912,100.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Monty K. Allen sold 4,347 shares of Iradimed stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $27.04, for a total value of $117,542.88. Following the sale, the director now owns 15,625 shares in the company, valued at approximately $422,500. The disclosure for this sale can be found here. Insiders have sold 176,556 shares of company stock worth $4,598,341 in the last quarter. Insiders own 61.20% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of IRMD. BlackRock Inc. increased its position in shares of Iradimed by 427.3% during the second quarter. BlackRock Inc. now owns 229,353 shares of the medical equipment provider’s stock worth $4,759,000 after purchasing an additional 185,860 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Iradimed by 119.2% during the second quarter. Renaissance Technologies LLC now owns 117,200 shares of the medical equipment provider’s stock worth $2,432,000 after purchasing an additional 63,742 shares in the last quarter. Cadence Capital Management LLC increased its position in shares of Iradimed by 27.9% during the second quarter. Cadence Capital Management LLC now owns 143,966 shares of the medical equipment provider’s stock worth $2,987,000 after purchasing an additional 31,437 shares in the last quarter. Boston Partners increased its position in shares of Iradimed by 68.0% during the first quarter. Boston Partners now owns 74,458 shares of the medical equipment provider’s stock worth $1,050,000 after purchasing an additional 30,137 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Iradimed by 49.2% during the second quarter. Russell Investments Group Ltd. now owns 88,223 shares of the medical equipment provider’s stock worth $1,831,000 after purchasing an additional 29,105 shares in the last quarter. Institutional investors and hedge funds own 19.86% of the company’s stock.
About Iradimed (NASDAQ:IRMD)
IRadimed Corporation develops, manufactures, markets, and distributes magnetic resonance imaging (MRI) compatible medical devices, and related accessories and services in the United States and internationally. It offers MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets under the MRidium name; and MRI compatible patient vital signs monitoring system under the IRadimed name.
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