Iradimed (NASDAQ:IRMD) Raised to Strong-Buy at StockNews.com

Iradimed (NASDAQ:IRMD) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Friday.

Separately, Roth Mkm reissued a “buy” rating and issued a $72.00 target price (up from $60.00) on shares of Iradimed in a report on Friday, February 14th.

Iradimed Trading Up 0.7 %

IRMD stock opened at $57.14 on Friday. Iradimed has a 1-year low of $40.18 and a 1-year high of $63.29. The firm has a market cap of $723.96 million, a P/E ratio of 38.09 and a beta of 0.82. The business’s 50 day moving average is $57.33 and its 200-day moving average is $52.40.

Iradimed (NASDAQ:IRMD) last announced its earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.05). The business had revenue of $19.39 million during the quarter, compared to analyst estimates of $19.09 million. Iradimed had a return on equity of 24.12% and a net margin of 26.26%. Sell-side analysts forecast that Iradimed will post 1.66 EPS for the current year.

Insiders Place Their Bets

In other Iradimed news, CFO John Glenn sold 2,500 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $54.18, for a total transaction of $135,450.00. Following the transaction, the chief financial officer now owns 4,383 shares of the company’s stock, valued at approximately $237,470.94. This represents a 36.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 37.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. R Squared Ltd acquired a new position in shares of Iradimed in the 4th quarter valued at $30,000. US Bancorp DE lifted its stake in shares of Iradimed by 476.6% in the 4th quarter. US Bancorp DE now owns 617 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 510 shares during the period. Huntington National Bank lifted its stake in shares of Iradimed by 51.3% in the 3rd quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider’s stock valued at $75,000 after purchasing an additional 504 shares during the period. Gladius Capital Management LP lifted its stake in shares of Iradimed by 126.6% in the 3rd quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider’s stock valued at $87,000 after purchasing an additional 965 shares during the period. Finally, Quantbot Technologies LP lifted its stake in shares of Iradimed by 83.0% in the 3rd quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider’s stock valued at $117,000 after purchasing an additional 1,052 shares during the period. Institutional investors and hedge funds own 92.34% of the company’s stock.

About Iradimed

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.