StockNews.com Downgrades Iradimed (NASDAQ:IRMD) to Buy

StockNews.com downgraded shares of Iradimed (NASDAQ:IRMD) from a strong-buy rating to a buy rating in a research report released on Thursday.

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

Iradimed Stock Performance

NASDAQ:IRMD opened at $52.45 on Thursday. The firm has a market cap of $666.90 million, a P/E ratio of 34.97 and a beta of 0.83. Iradimed has a fifty-two week low of $40.18 and a fifty-two week high of $63.29. The firm has a 50-day simple moving average of $57.09 and a two-hundred day simple moving average of $53.44.

Iradimed (NASDAQ:IRMD) last announced its quarterly 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 company had revenue of $19.39 million for the quarter, compared to analysts’ expectations of $19.09 million. Iradimed had a net margin of 26.26% and a return on equity of 24.12%. On average, equities research analysts predict that Iradimed will post 1.66 EPS for the current year.

Iradimed Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $0.17 dividend. This is an increase from Iradimed’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.30%. Iradimed’s dividend payout ratio (DPR) is presently 45.33%.

Hedge Funds Weigh In On Iradimed

Institutional investors and hedge funds have recently made changes to their positions in the business. R Squared Ltd purchased a new position in shares of Iradimed in the fourth quarter worth approximately $30,000. US Bancorp DE boosted its holdings in shares of Iradimed by 476.6% in the fourth quarter. US Bancorp DE now owns 617 shares of the medical equipment provider’s stock worth $34,000 after buying an additional 510 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Iradimed by 51.3% in the third quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider’s stock worth $75,000 after buying an additional 504 shares during the last quarter. Gladius Capital Management LP boosted its holdings in shares of Iradimed by 126.6% in the third quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider’s stock worth $87,000 after buying an additional 965 shares during the last quarter. Finally, Quantbot Technologies LP boosted its holdings in shares of Iradimed by 83.0% in the third quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider’s stock worth $117,000 after buying an additional 1,052 shares during the last quarter. Hedge funds and other institutional investors own 92.34% of the company’s stock.

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.