Iradimed (NASDAQ:IRMD) Downgraded by StockNews.com to “Buy”

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

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

Iradimed Trading Up 1.0 %

IRMD stock opened at $52.84 on Thursday. The stock has a 50-day moving average price of $57.22 and a two-hundred day moving average price of $53.37. The stock has a market cap of $669.64 million, a PE ratio of 35.23 and a beta of 0.83. Iradimed has a 1 year low of $40.18 and a 1 year high of $63.29.

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 firm had revenue of $19.39 million for the quarter, compared to the consensus estimate of $19.09 million. Iradimed had a return on equity of 24.12% and a net margin of 26.26%. On average, analysts forecast that Iradimed will post 1.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Iradimed

Several hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Iradimed by 91.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,359 shares of the medical equipment provider’s stock valued at $1,010,000 after purchasing an additional 8,774 shares during the last quarter. Squarepoint Ops LLC lifted its stake in Iradimed by 41.1% in the 4th quarter. Squarepoint Ops LLC now owns 15,764 shares of the medical equipment provider’s stock valued at $867,000 after purchasing an additional 4,591 shares during the last quarter. State of Wyoming acquired a new stake in Iradimed in the 4th quarter valued at about $149,000. Snowden Capital Advisors LLC acquired a new stake in Iradimed in the 4th quarter valued at about $229,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Iradimed by 4.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,577 shares of the medical equipment provider’s stock valued at $252,000 after purchasing an additional 204 shares during the last quarter. Institutional investors 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.