Iradimed’s (IRMD) Buy Rating Reiterated at Roth Mkm

Roth Mkm restated their buy rating on shares of Iradimed (NASDAQ:IRMD) in a research report released on Friday morning,Benzinga reports. The firm currently has a $72.00 target price on the medical equipment provider’s stock, up from their prior target price of $60.00.

Separately, StockNews.com lowered shares of Iradimed from a “strong-buy” rating to a “buy” rating in a report on Thursday.

Iradimed Stock Down 0.3 %

Iradimed stock opened at $55.23 on Friday. The firm has a market cap of $699.76 million, a PE ratio of 37.83 and a beta of 0.82. Iradimed has a 52-week low of $40.18 and a 52-week high of $63.29. The company’s 50 day moving average is $57.20 and its two-hundred day moving average is $52.18.

Iradimed (NASDAQ:IRMD) last released its earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.05). The business had revenue of $19.39 million for the quarter, compared to analyst estimates of $19.09 million. Iradimed had a return on equity of 23.99% and a net margin of 26.12%. On average, equities research analysts anticipate that Iradimed will post 1.52 earnings per share for the current fiscal year.

Iradimed Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be given a dividend of $0.17 per share. This is a boost from Iradimed’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Monday, February 24th. Iradimed’s payout ratio is 41.10%.

Insider Buying and Selling

In other Iradimed news, CFO John Glenn sold 2,500 shares of Iradimed stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $54.18, for a total value of $135,450.00. Following the transaction, the chief financial officer now directly owns 4,383 shares in the company, valued at approximately $237,470.94. The trade was a 36.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 37.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Voleon Capital Management LP acquired a new position in shares of Iradimed during the fourth quarter worth about $804,000. Northern Trust Corp boosted its holdings in Iradimed by 7.3% during the fourth quarter. Northern Trust Corp now owns 143,069 shares of the medical equipment provider’s stock worth $7,869,000 after buying an additional 9,722 shares in the last quarter. Tudor Investment Corp ET AL boosted its holdings in Iradimed by 35.6% during the fourth quarter. Tudor Investment Corp ET AL now owns 31,016 shares of the medical equipment provider’s stock worth $1,706,000 after buying an additional 8,147 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in Iradimed by 6.9% during the fourth quarter. Hsbc Holdings PLC now owns 11,520 shares of the medical equipment provider’s stock worth $637,000 after buying an additional 740 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. purchased a new stake in Iradimed during the fourth quarter worth about $1,790,000. 92.34% of the stock is currently owned by institutional investors and hedge funds.

Iradimed Company Profile

IRadimed Corp. engages in the development, manufacture, marketing, and distribution of Magnetic Resonance Imaging compatible medical devices. It also provides a non-magnetic Intravenous infusion pump system that is specifically designed for use during MRI procedures. The company was founded by Roger Susi in July 1992 and is headquartered in Winter Springs, FL.