Iradimed (NASDAQ:IRMD) Issues FY 2024 Earnings Guidance

Iradimed (NASDAQ:IRMD) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.640-1.670 for the period, compared to the consensus earnings per share estimate of 1.560. The company issued revenue guidance of $72.7 million-$73.1 million, compared to the consensus revenue estimate of $72.6 million. Iradimed also updated its Q4 2024 guidance to 0.420-0.450 EPS.

Analyst Ratings Changes

Separately, Roth Mkm cut their target price on Iradimed from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd.

Iradimed Stock Performance

Shares of IRMD stock traded down $3.54 on Thursday, hitting $49.40. The stock had a trading volume of 19,105 shares, compared to its average volume of 48,952. The firm has a market capitalization of $625.60 million, a price-to-earnings ratio of 35.04 and a beta of 0.79. Iradimed has a 52-week low of $39.24 and a 52-week high of $53.99. The stock’s 50 day moving average is $48.84 and its 200-day moving average is $45.45.

Iradimed (NASDAQ:IRMD) last released its earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.05. The firm had revenue of $17.93 million during the quarter, compared to analyst estimates of $17.70 million. Iradimed had a net margin of 26.83% and a return on equity of 24.71%. During the same quarter in the previous year, the firm earned $0.33 earnings per share. Equities analysts expect that Iradimed will post 1.41 earnings per share for the current year.

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.