iRadimed Corp. to Post Q3 2016 Earnings of $0.09 Per Share, Roth Capital Forecasts (IRMD)
iRadimed Corp. (NASDAQ:IRMD) – Roth Capital cut their Q3 2016 earnings estimates for shares of iRadimed Corp. in a research note issued on Wednesday. Roth Capital analyst C. Lewis now expects that the firm will post earnings of $0.09 per share for the quarter, down from their previous forecast of $0.19. Roth Capital currently has a “Neutral” rating and a $11.50 target price on the stock. Roth Capital also issued estimates for iRadimed Corp.’s Q4 2016 earnings at $0.04 EPS and FY2016 earnings at $0.51 EPS.
iRadimed Corp. (NASDAQ:IRMD) last released its quarterly earnings results on Friday, July 29th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. iRadimed Corp. had a net margin of 24.52% and a return on equity of 30.52%. The company earned $9.90 million during the quarter, compared to the consensus estimate of $9.60 million. During the same period in the previous year, the business earned $0.16 earnings per share. The firm’s quarterly revenue was up 30.3% on a year-over-year basis.
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.
Shares of iRadimed Corp. (NASDAQ:IRMD) opened at 10.32 on Monday. The firm has a market capitalization of $110.14 million, a P/E ratio of 14.83 and a beta of 1.28. iRadimed Corp. has a 52-week low of $9.76 and a 52-week high of $33.25. The stock has a 50 day moving average of $16.91 and a 200-day moving average of $18.07.
In other iRadimed Corp. news, VP Steven M. Nardi sold 2,096 shares of the stock in a transaction dated 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 sale, the vice president now owns 1,996 shares in the company, valued at approximately $34,151.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. 69.00% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Emerald Acquisition Ltd. purchased a new stake in iRadimed Corp. during the second quarter valued at approximately $1,011,000. Ativo Capital Management LLC raised its stake in iRadimed Corp. by 173.0% in the second quarter. Ativo Capital Management LLC now owns 57,347 shares of the company’s stock valued at $1,248,000 after buying an additional 36,340 shares during the period. Spark Investment Management LLC purchased a new stake in iRadimed Corp. during the second quarter valued at approximately $761,000. BlackRock Fund Advisors raised its stake in iRadimed Corp. by 37.4% in the second quarter. BlackRock Fund Advisors now owns 105,283 shares of the company’s stock valued at $2,291,000 after buying an additional 28,638 shares during the period. Finally, Vanguard Group Inc. raised its stake in iRadimed Corp. by 8.2% in the second quarter. Vanguard Group Inc. now owns 224,101 shares of the company’s stock valued at $4,876,000 after buying an additional 16,888 shares during the period. Hedge funds and other institutional investors own 20.74% of the company’s stock.
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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