Iradimed’s (IRMD) “Buy” Rating Reaffirmed at Roth Mkm

Roth Mkm reaffirmed their buy rating on shares of Iradimed (NASDAQ:IRMD) in a report released on Monday, Benzinga reports. The brokerage currently has a $65.00 price target on the medical equipment provider’s stock.

Separately, Singular Research reaffirmed a buy rating on shares of Iradimed in a research report on Monday, April 1st.

Iradimed Price Performance

Iradimed stock opened at $42.36 on Monday. Iradimed has a 1-year low of $36.12 and a 1-year high of $51.04. The firm has a market capitalization of $536.28 million, a P/E ratio of 31.19 and a beta of 0.82. The company’s 50-day moving average is $43.11 and its 200 day moving average is $43.02.

Iradimed (NASDAQ:IRMD) last issued its earnings results on Thursday, February 8th. The medical equipment provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The company had revenue of $17.45 million for the quarter. Iradimed had a return on equity of 24.62% and a net margin of 26.22%. Research analysts anticipate that Iradimed will post 1.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Iradimed

A number of institutional investors have recently modified their holdings of IRMD. Vanguard Group Inc. boosted its stake in shares of Iradimed by 2.7% during the third quarter. Vanguard Group Inc. now owns 412,151 shares of the medical equipment provider’s stock valued at $18,287,000 after purchasing an additional 10,932 shares in the last quarter. RK Capital Management LLC boosted its stake in shares of Iradimed by 13.2% during the fourth quarter. RK Capital Management LLC now owns 340,400 shares of the medical equipment provider’s stock valued at $16,159,000 after purchasing an additional 39,600 shares in the last quarter. Ranger Investment Management L.P. boosted its stake in shares of Iradimed by 5.4% during the fourth quarter. Ranger Investment Management L.P. now owns 223,612 shares of the medical equipment provider’s stock valued at $10,615,000 after purchasing an additional 11,465 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Iradimed by 2.3% during the fourth quarter. Russell Investments Group Ltd. now owns 211,288 shares of the medical equipment provider’s stock valued at $10,030,000 after purchasing an additional 4,715 shares in the last quarter. Finally, Resource Consulting Group Inc. bought a new position in shares of Iradimed during the fourth quarter valued at approximately $4,889,000. 92.34% of the stock is owned by hedge funds and other institutional investors.

Iradimed Company Profile

IRADIMED CORPORATION develops, manufactures, markets, and distributes magnetic resonance imaging (MRI) compatible medical devices and related accessories, and disposables and services in the United States and internationally. It offers MRidium MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets; MRI compatible patient vital signs monitoring system; and 3600 FMD1 with RALU ferromagnetic detection device.