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

Iradimed (NASDAQ:IRMD) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

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

Iradimed Stock Down 0.3 %

Shares of NASDAQ IRMD opened at $53.10 on Tuesday. Iradimed has a 52 week low of $40.18 and a 52 week high of $63.29. The business’s 50 day moving average price is $57.50 and its 200 day moving average price is $53.10. The firm has a market cap of $672.94 million, a P/E ratio of 35.40 and a beta of 0.82.

Iradimed (NASDAQ:IRMD) last released its quarterly earnings data 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 analysts’ expectations of $19.09 million. Iradimed had a net margin of 26.26% and a return on equity of 24.12%. As a group, research analysts expect that Iradimed will post 1.66 earnings per share for the current year.

Institutional Trading of Iradimed

Hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of Iradimed in the fourth quarter worth about $30,000. US Bancorp DE increased 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 in the last quarter. Huntington National Bank raised its holdings in Iradimed by 51.3% in the 3rd quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider’s stock worth $75,000 after purchasing an additional 504 shares during the period. Gladius Capital Management LP boosted its position in Iradimed by 126.6% during the third quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider’s stock worth $87,000 after purchasing an additional 965 shares in the last quarter. Finally, Quantbot Technologies LP grew its holdings in Iradimed by 83.0% in the third 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. 92.34% of the stock is owned by hedge funds and other institutional investors.

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.