Iradimed (NASDAQ:IRMD) Lowered to Sell at ValuEngine

ValuEngine lowered shares of Iradimed (NASDAQ:IRMD) from a hold rating to a sell rating in a research note released on Thursday, ValuEngine reports.

A number of other analysts have also weighed in on the stock. BidaskClub upgraded shares of Zogenix from a sell rating to a hold rating in a research report on Thursday, May 9th. Zacks Investment Research upgraded shares of HB Fuller from a sell rating to a hold rating in a research report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $31.50.

Shares of NASDAQ IRMD traded down $0.29 during trading hours on Thursday, hitting $17.95. 33,781 shares of the stock were exchanged, compared to its average volume of 60,146. The company has a current ratio of 9.48, a quick ratio of 8.63 and a debt-to-equity ratio of 0.06. The firm has a market cap of $214.00 million, a P/E ratio of 41.74 and a beta of 1.64. The firm has a fifty day moving average of $20.48. Iradimed has a 1-year low of $17.79 and a 1-year high of $38.78.



Iradimed (NASDAQ:IRMD) last posted its quarterly earnings results on Tuesday, April 30th. The medical equipment provider reported $0.11 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.11. Iradimed had a net margin of 23.00% and a return on equity of 13.98%. The business had revenue of $8.44 million for the quarter, compared to analyst estimates of $8.38 million. Equities analysts anticipate that Iradimed will post 0.64 earnings per share for the current fiscal year.

In other Iradimed news, VP Brent Johnson sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $21.83, for a total value of $65,490.00. Following the sale, the vice president now owns 4,368 shares in the company, valued at $95,353.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 28,000 shares of company stock worth $587,710 in the last 90 days. Company insiders own 56.80% of the company’s stock.

Several large investors have recently modified their holdings of the company. Barclays PLC lifted its holdings in shares of Iradimed by 53.9% during the fourth quarter. Barclays PLC now owns 2,059 shares of the medical equipment provider’s stock worth $50,000 after purchasing an additional 721 shares during the period. GSA Capital Partners LLP lifted its holdings in shares of Iradimed by 14.6% during the fourth quarter. GSA Capital Partners LLP now owns 11,796 shares of the medical equipment provider’s stock worth $289,000 after purchasing an additional 1,500 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Iradimed by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 45,822 shares of the medical equipment provider’s stock worth $1,120,000 after purchasing an additional 1,690 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Iradimed by 8.1% during the fourth quarter. Bank of New York Mellon Corp now owns 33,252 shares of the medical equipment provider’s stock worth $813,000 after purchasing an additional 2,503 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Iradimed during the first quarter worth $76,000. Institutional investors own 23.53% 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 services in the United States and internationally. It offers MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets; and MRI compatible patient vital signs monitoring system.

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