iRadimed Corp. (IRMD) Lowered to Neutral at Roth Capital
Roth Capital lowered shares of iRadimed Corp. (NASDAQ:IRMD) from a buy rating to a neutral rating in a research note published on Wednesday morning. The brokerage currently has $11.50 price objective on the stock, down from their prior price objective of $28.00.
Separately, Zacks Investment Research cut shares of iRadimed Corp. from a strong-buy rating to a hold rating in a research note on Tuesday, July 5th.
Shares of iRadimed Corp. (NASDAQ:IRMD) traded down 1.6750% during trading on Wednesday, reaching $10.5601. The company had a trading volume of 61,168 shares. The firm has a 50-day moving average of $17.31 and a 200-day moving average of $18.18. iRadimed Corp. has a 12-month low of $9.76 and a 12-month high of $33.25. The company has a market cap of $112.70 million, a P/E ratio of 15.1726 and a beta of 1.28.
iRadimed Corp. (NASDAQ:IRMD) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. The firm earned $9.90 million during the quarter, compared to analysts’ expectations of $9.60 million. iRadimed Corp. had a net margin of 24.52% and a return on equity of 30.52%. The company’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 earnings per share. On average, equities research analysts anticipate 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 business’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $17.11, for a total value of $35,862.56. Following the completion of the transaction, the vice president now owns 1,996 shares of the company’s stock, valued at approximately $34,151.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 69.00% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Teachers Advisors Inc. raised its position 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 valued at $123,000 after buying an additional 1,712 shares during the period. BlackRock Advisors LLC raised its position 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 valued at $182,000 after buying an additional 443 shares during the period. California State Teachers Retirement System raised its position in shares of iRadimed Corp. by 39.6% in the second quarter. California State Teachers Retirement System now owns 8,484 shares of the company’s stock valued at $185,000 after buying an additional 2,405 shares during the period. Mesirow Financial Investment Management Equity Management purchased a new position in shares of iRadimed Corp. during the second quarter valued at about $273,000. Finally, Schwab Charles Investment Management Inc. purchased a new position in shares of iRadimed Corp. during the second quarter valued at about $290,000. 20.74% of the stock is owned by institutional investors.
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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