Iradimed (NASDAQ:IRMD) Rating Increased to Sell at BidaskClub

Iradimed (NASDAQ:IRMD) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Saturday, BidAskClub reports.

A number of other research analysts have also weighed in on the stock. Roth Capital cut their target price on shares of Iradimed from $30.00 to $26.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Zacks Investment Research lowered shares of Iradimed from a “hold” rating to a “sell” rating in a report on Friday, August 14th. Finally, TheStreet lowered shares of Iradimed from a “b” rating to a “c+” rating in a report on Friday, July 31st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $26.00.

Shares of IRMD opened at $22.30 on Friday. Iradimed has a 1 year low of $14.41 and a 1 year high of $28.43. The company has a 50 day simple moving average of $21.92 and a two-hundred day simple moving average of $21.77. The firm has a market cap of $270.77 million, a P/E ratio of 51.42 and a beta of 1.27.

Iradimed (NASDAQ:IRMD) last announced its quarterly earnings data on Thursday, July 30th. The medical equipment provider reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. Iradimed had a net margin of 14.74% and a return on equity of 9.57%. The business had revenue of $6.80 million during the quarter, compared to analyst estimates of $5.53 million. As a group, equities research analysts expect that Iradimed will post 0.03 EPS for the current year.

In related news, Director Monty K. Allen sold 9,062 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $22.22, for a total value of $201,357.64. Following the completion of the transaction, the director now directly owns 12,221 shares of the company’s stock, valued at $271,550.62. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 50.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in Iradimed by 6.6% during the first quarter. Geode Capital Management LLC now owns 73,359 shares of the medical equipment provider’s stock worth $1,566,000 after buying an additional 4,533 shares during the period. Nine Ten Capital Management LLC lifted its position in shares of Iradimed by 112.7% during the first quarter. Nine Ten Capital Management LLC now owns 277,088 shares of the medical equipment provider’s stock worth $5,916,000 after purchasing an additional 146,816 shares during the last quarter. Alliancebernstein L.P. bought a new stake in shares of Iradimed during the first quarter worth $211,000. Morgan Stanley lifted its position in shares of Iradimed by 135.1% during the first quarter. Morgan Stanley now owns 34,588 shares of the medical equipment provider’s stock worth $738,000 after purchasing an additional 19,875 shares during the last quarter. Finally, Strs Ohio lifted its position in shares of Iradimed by 4.5% during the second quarter. Strs Ohio now owns 21,000 shares of the medical equipment provider’s stock worth $487,000 after purchasing an additional 900 shares during the last quarter. 36.86% of the stock is owned by institutional investors.

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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