iRadimed Corporation (NASDAQ:IRMD) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Friday.

IRMD has been the topic of several other reports. Roth Capital raised shares of iRadimed Corporation from a “neutral” rating to a “buy” rating and raised their target price for the stock from $9.00 to $12.00 in a research report on Monday, July 31st. TheStreet raised shares of iRadimed Corporation from a “d” rating to a “c-” rating in a research report on Friday, June 23rd. Finally, Zacks Investment Research raised shares of iRadimed Corporation from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Friday, August 4th.

Shares of iRadimed Corporation (NASDAQ:IRMD) remained flat at $10.40 during trading on Friday. The stock had a trading volume of 5,620 shares. The company has a 50 day moving average price of $9.96 and a 200 day moving average price of $9.02. iRadimed Corporation has a 12 month low of $7.85 and a 12 month high of $14.24. The stock has a market capitalization of $110.05 million, a PE ratio of 43.51 and a beta of 1.47.

iRadimed Corporation (NASDAQ:IRMD) last released its quarterly earnings results on Friday, July 28th. The medical equipment provider reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.07. iRadimed Corporation had a net margin of 11.61% and a return on equity of 8.98%. The company had revenue of $5.50 million for the quarter, compared to analysts’ expectations of $5.41 million. During the same period last year, the company earned $0.24 EPS. The firm’s revenue for the quarter was down 44.4% compared to the same quarter last year. On average, equities research analysts forecast that iRadimed Corporation will post $0.13 EPS for the current year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Federated Investors Inc. PA raised its holdings in iRadimed Corporation by 7.5% in the second quarter. Federated Investors Inc. PA now owns 40,400 shares of the medical equipment provider’s stock valued at $347,000 after buying an additional 2,807 shares during the period. Connors Investor Services Inc. raised its holdings in iRadimed Corporation by 10.0% in the second quarter. Connors Investor Services Inc. now owns 33,000 shares of the medical equipment provider’s stock valued at $284,000 after buying an additional 3,000 shares during the period. Neuberger Berman Group LLC raised its holdings in iRadimed Corporation by 23.3% in the second quarter. Neuberger Berman Group LLC now owns 18,500 shares of the medical equipment provider’s stock valued at $159,000 after buying an additional 3,500 shares during the period. Menta Capital LLC raised its holdings in iRadimed Corporation by 5.7% in the second quarter. Menta Capital LLC now owns 70,476 shares of the medical equipment provider’s stock valued at $606,000 after buying an additional 3,823 shares during the period. Finally, Citigroup Inc. raised its holdings in iRadimed Corporation by 50.8% in the second quarter. Citigroup Inc. now owns 16,082 shares of the medical equipment provider’s stock valued at $138,000 after buying an additional 5,418 shares during the period. Hedge funds and other institutional investors own 14.19% of the company’s stock.

About iRadimed Corporation

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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