Iradimed (NASDAQ:IRMD) announced its earnings results on Wednesday, February 6th. The medical equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01, Morningstar.com reports. The firm had revenue of $8.34 million for the quarter, compared to analyst estimates of $8.19 million. Iradimed had a net margin of 20.71% and a return on equity of 14.26%.
Shares of IRMD stock traded up $0.75 during mid-day trading on Friday, reaching $25.75. The company’s stock had a trading volume of 42,619 shares, compared to its average volume of 60,876. Iradimed has a 12-month low of $12.85 and a 12-month high of $38.78. The company has a market cap of $285.16 million, a PE ratio of 59.88 and a beta of 1.85.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its holdings in Iradimed by 44.1% during the 3rd quarter. BlackRock Inc. now owns 330,441 shares of the medical equipment provider’s stock valued at $12,276,000 after purchasing an additional 101,088 shares in the last quarter. Vanguard Group Inc. grew its holdings in Iradimed by 19.7% during the 3rd quarter. Vanguard Group Inc. now owns 250,298 shares of the medical equipment provider’s stock valued at $9,298,000 after purchasing an additional 41,184 shares in the last quarter. Vanguard Group Inc grew its holdings in Iradimed by 19.7% during the 3rd quarter. Vanguard Group Inc now owns 250,298 shares of the medical equipment provider’s stock worth $9,298,000 after acquiring an additional 41,184 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Iradimed by 69.5% during the 3rd quarter. Renaissance Technologies LLC now owns 198,700 shares of the medical equipment provider’s stock worth $7,382,000 after acquiring an additional 81,500 shares in the last quarter. Finally, Ranger Investment Management L.P. grew its holdings in Iradimed by 13.3% during the 4th quarter. Ranger Investment Management L.P. now owns 190,226 shares of the medical equipment provider’s stock worth $4,653,000 after acquiring an additional 22,341 shares in the last quarter. 21.93% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on IRMD. BidaskClub raised shares of Iradimed from a “hold” rating to a “buy” rating in a research note on Tuesday, November 27th. Zacks Investment Research raised shares of Iradimed from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Wednesday, February 6th. Finally, ValuEngine raised shares of Iradimed from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 21st. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $33.00.
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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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