iRadimed Corp. (IRMD) Issues FY16 Earnings Guidance
iRadimed Corp. (NASDAQ:IRMD) issued an update on its FY16 earnings guidance on Friday morning. The company provided EPS guidance of $0.60-0.63 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.62. The company issued revenue guidance of $32.9-33.2 million, compared to the consensus revenue estimate of $32.95 million.iRadimed Corp. also updated its Q3 guidance to $0.11-0.12 EPS.
iRadimed Corp. (NASDAQ:IRMD) traded down 1.15% during mid-day trading on Friday, hitting $9.44. The stock had a trading volume of 110,520 shares. The stock has a market cap of $100.74 million, a PE ratio of 13.56 and a beta of 1.28. The firm’s 50-day moving average price is $15.99 and its 200-day moving average price is $17.82. iRadimed Corp. has a 1-year low of $9.36 and a 1-year high of $33.25.
iRadimed Corp. (NASDAQ:IRMD) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The company had revenue of $9.90 million for 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 was up 30.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 EPS. On average, equities analysts expect that iRadimed Corp. will post $0.92 earnings per share for the current year.
IRMD has been the subject of a number of research analyst reports. Zacks Investment Research lowered iRadimed Corp. from a strong-buy rating to a hold rating in a research report on Tuesday, July 5th. Roth Capital lowered iRadimed Corp. from a buy rating to a neutral rating and decreased their target price for the company from $28.00 to $11.50 in a research report on Wednesday, October 5th.
In related news, VP Steven M. Nardi sold 2,096 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was 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 directly owns 1,996 shares of the company’s stock, valued at approximately $34,151.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 69.00% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. Spark Investment Management LLC bought a new stake in shares of iRadimed Corp. during the second quarter worth approximately $761,000. Finally, 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 in the last quarter. 20.74% of the stock is owned by institutional investors and hedge funds.
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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