Zacks Investment Research Lowers Iradimed (IRMD) to Hold

Zacks Investment Research lowered shares of Iradimed (NASDAQ:IRMD) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday morning.

According to Zacks, “iRadimed Corporation engages in developing, manufacturing, marketing, and distributing magnetic resonance imaging (MRI) compatible products. It offers non-magnetic intravenous (IV) infusion pump systems, IV tubing sets, IV poles, wireless remote displays/controls under the mRidium name; side car pump modules; dose error reduction systems; Masimo SET SpO2 monitoring products; and MRI Pulse oximeters, and MRI oximeter remotes and displays under the iMagox name used during MRI procedures. iRadimed Corporation is headquartered in Winter Park, Florida. “

IRMD opened at $15.30 on Wednesday. The firm has a market capitalization of $158.54, a PE ratio of 166.11 and a beta of 1.42. Iradimed has a 12-month low of $8.00 and a 12-month high of $15.85.



Iradimed (NASDAQ:IRMD) last released its earnings results on Tuesday, February 6th. The medical equipment provider reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.04. Iradimed had a return on equity of 3.03% and a net margin of 2.17%. The company had revenue of $6.70 million during the quarter, compared to analyst estimates of $6.72 million. During the same quarter in the prior year, the company earned $0.11 earnings per share. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. sell-side analysts expect that Iradimed will post 0.25 EPS for the current fiscal year.

In other news, insider Louis S. Waldman sold 30,000 shares of the company’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $13.83, for a total value of $414,900.00. Following the transaction, the insider now directly owns 5,221 shares of the company’s stock, valued at $72,206.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 60.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of IRMD. Macquarie Group Ltd. increased its stake in shares of Iradimed by 643.1% in the fourth quarter. Macquarie Group Ltd. now owns 8,204 shares of the medical equipment provider’s stock worth $124,000 after acquiring an additional 7,100 shares during the last quarter. Ranger Investment Management L.P. acquired a new position in shares of Iradimed in the fourth quarter worth $238,000. Cadence Capital Management LLC acquired a new position in shares of Iradimed in the fourth quarter worth $320,000. Deutsche Bank AG increased its stake in shares of Iradimed by 820.3% in the fourth quarter. Deutsche Bank AG now owns 23,100 shares of the medical equipment provider’s stock worth $349,000 after acquiring an additional 20,590 shares during the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new position in shares of Iradimed in the fourth quarter worth $396,000. 16.34% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This piece was originally published by Dakota Financial News and is owned by of Dakota Financial News. If you are accessing this piece on another site, it was stolen and reposted in violation of United States and international trademark & copyright legislation. The correct version of this piece can be accessed at https://dakotafinancialnews.com/2018/04/12/zacks-investment-research-lowers-iradimed-irmd-to-hold.html.

About Iradimed

IRADIMED CORPORATION (IRADIMED) develops, manufactures, markets and distributes Magnetic Resonance Imaging (MRI) compatible products, and provides non-magnetic intravenous (IV) infusion pump systems. The Company operates through development, manufacture and sale of MRI compatible products and IV infusion pump systems for use by hospitals and acute care facilities during MRI procedures segment.

Get a free copy of the Zacks research report on Iradimed (IRMD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Iradimed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iradimed and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply