iRadimed Corp. (IRMD) Issues FY16 Earnings Guidance
iRadimed Corp. (NASDAQ:IRMD) issued an update on its FY16 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.60-0.63 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.92. The company issued revenue guidance of $32.9-33.2 million, compared to the consensus revenue estimate of $39.29 million.iRadimed Corp. also updated its Q3 guidance to $0.11-0.12 EPS.
iRadimed Corp. (NASDAQ:IRMD) traded down 37.10% during midday trading on Tuesday, reaching $10.70. 763,602 shares of the company were exchanged. The company has a 50-day moving average of $17.68 and a 200 day moving average of $18.29. iRadimed Corp. has a 52 week low of $9.76 and a 52 week high of $33.25. The firm has a market capitalization of $114.19 million, a PE ratio of 15.37 and a beta of 1.28.
iRadimed Corp. (NASDAQ:IRMD) last released its earnings results on Friday, July 29th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The company earned $9.90 million during the quarter, compared to analyst estimates of $9.60 million. iRadimed Corp. had a net margin of 24.52% and a return on equity of 30.52%. The firm’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 EPS. Equities analysts predict that iRadimed Corp. will post $0.92 earnings per share for the current year.
Separately, Zacks Investment Research lowered shares of iRadimed Corp. from a strong-buy rating to a hold rating in a report on Tuesday, July 5th.
In other iRadimed Corp. news, VP Steven M. Nardi sold 2,096 shares of the stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $17.11, for a total transaction of $35,862.56. Following the completion of the sale, the vice president now directly owns 1,996 shares of the company’s stock, valued at approximately $34,151.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 69.00% of the company’s stock.
Large investors have recently made changes to their positions in the stock. BlackRock Advisors LLC raised its stake in shares of iRadimed Corp. by 5.6% in the second quarter. BlackRock Advisors LLC now owns 8,343 shares of the company’s stock worth $182,000 after buying an additional 443 shares during the period. Teachers Advisors Inc. raised its stake in shares of iRadimed Corp. by 43.3% in the second quarter. Teachers Advisors Inc. now owns 5,670 shares of the company’s stock worth $123,000 after buying an additional 1,712 shares during the period. BlackRock Investment Management LLC raised its stake in shares of iRadimed Corp. by 50.6% in the second quarter. BlackRock Investment Management LLC now owns 14,741 shares of the company’s stock worth $321,000 after buying an additional 4,954 shares during the period. Menta Capital LLC raised its stake in shares of iRadimed Corp. by 23.9% in the second quarter. Menta Capital LLC now owns 41,919 shares of the company’s stock worth $912,000 after buying an additional 8,086 shares during the period. Finally, State Street Corp raised its stake in shares of iRadimed Corp. by 33.7% in the second quarter. State Street Corp now owns 42,082 shares of the company’s stock worth $917,000 after buying an additional 10,609 shares during the period. 20.74% of the stock is owned by institutional investors and hedge funds.
About iRadimed Corp.
IRADIMED CORPORATION (IRADIMED) develops, manufactures, markets and distributes Magnetic Resonance Imaging (MRI) compatible products, and provides non-magnetic intravenous (IV) infusion pump systems. The Company operates through development, manufacture and sale of MRI compatible products and IV infusion pump systems for use by hospitals and acute care facilities during MRI procedures segment.
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