Iradimed (IRMD) Releases Earnings Results, Beats Estimates By $0.01 EPS

Iradimed (NASDAQ:IRMD) announced its earnings results on Wednesday. The medical equipment provider reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01, Morningstar.com reports. Iradimed had a return on equity of 14.26% and a net margin of 20.71%. The firm had revenue of $8.34 million for the quarter, compared to the consensus estimate of $8.19 million.

Shares of NASDAQ IRMD traded up $0.17 during midday trading on Friday, reaching $27.90. The company’s stock had a trading volume of 793 shares, compared to its average volume of 67,705. Iradimed has a 12-month low of $12.51 and a 12-month high of $38.78. The company has a market capitalization of $309.66 million, a PE ratio of 64.53 and a beta of 1.85.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its stake in shares of Iradimed by 119.2% in the 2nd quarter. Renaissance Technologies LLC now owns 117,200 shares of the medical equipment provider’s stock worth $2,432,000 after buying an additional 63,742 shares during the last quarter. Algert Global LLC bought a new stake in shares of Iradimed in the 3rd quarter worth approximately $509,000. EAM Investors LLC raised its holdings in shares of Iradimed by 66.4% in the 3rd quarter. EAM Investors LLC now owns 61,207 shares of the medical equipment provider’s stock worth $2,274,000 after purchasing an additional 24,433 shares during the period. Navellier & Associates Inc raised its holdings in shares of Iradimed by 24.7% in the 4th quarter. Navellier & Associates Inc now owns 116,711 shares of the medical equipment provider’s stock worth $2,855,000 after purchasing an additional 23,127 shares during the period. Finally, Mondrian Investment Partners LTD raised its holdings in shares of Iradimed by 5.9% in the 4th quarter. Mondrian Investment Partners LTD now owns 123,216 shares of the medical equipment provider’s stock worth $3,014,000 after purchasing an additional 6,819 shares during the period. Hedge funds and other institutional investors own 21.07% of the company’s stock.



A number of equities analysts have recently weighed in on IRMD shares. ValuEngine downgraded Iradimed from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 10th. Zacks Investment Research upgraded Iradimed from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research note on Friday, January 18th. Finally, BidaskClub downgraded Iradimed from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $33.00.

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Iradimed Company Profile

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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Earnings History for Iradimed (NASDAQ:IRMD)

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