iRadimed Corp. (IRMD) Issues Q3 Earnings Guidance
iRadimed Corp. (NASDAQ:IRMD) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.11-0.12 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.23. The company issued revenue guidance of $7.5-7.6 million, compared to the consensus revenue estimate of $9.91 million.iRadimed Corp. also updated its FY16 guidance to $0.60-0.63 EPS.
Separately, Zacks Investment Research downgraded iRadimed Corp. from a strong-buy rating to a hold rating in a research report on Tuesday, July 5th.
iRadimed Corp. (NASDAQ:IRMD) traded down 37.10% during midday trading on Tuesday, reaching $10.70. The company’s stock had a trading volume of 763,602 shares. The firm has a market capitalization of $114.19 million, a price-to-earnings ratio of 15.37 and a beta of 1.28. The stock’s 50-day moving average price is $17.68 and its 200-day moving average price is $18.29. iRadimed Corp. has a 12 month low of $9.76 and a 12 month high of $33.25.
iRadimed Corp. (NASDAQ:IRMD) last released its earnings results on Friday, July 29th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. The firm earned $9.90 million during the quarter, compared to the consensus estimate of $9.60 million. iRadimed Corp. had a return on equity of 30.52% and a net margin of 24.52%. The firm’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 earnings per share. Analysts predict that iRadimed Corp. will post $0.92 EPS for the current year.
In other news, VP Steven M. Nardi sold 2,096 shares of the stock in a transaction on Tuesday, August 16th. The stock was 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 owns 1,996 shares in the company, valued at approximately $34,151.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 69.00% of the company’s stock.
Several large investors have recently made changes to their positions in IRMD. AQR Capital Management LLC increased its stake in shares of iRadimed Corp. by 41.7% in the second quarter. AQR Capital Management LLC now owns 48,264 shares of the company’s stock worth $1,050,000 after buying an additional 14,214 shares during the period. Menta Capital LLC increased 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. State Street Corp increased 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. Spark Investment Management LLC bought a new stake in shares of iRadimed Corp. during the second quarter worth approximately $761,000. Finally, Ativo Capital Management LLC increased its stake in shares of iRadimed Corp. by 173.0% in the second quarter. Ativo Capital Management LLC now owns 57,347 shares of the company’s stock worth $1,248,000 after buying an additional 36,340 shares during the period. Institutional investors own 20.74% of the company’s stock.
iRadimed Corp. Company Profile
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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