Iradimed Corp (IRMD) Short Interest Down 31.7% in October
Iradimed Corp (NASDAQ:IRMD) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 474,967 shares, a drop of 31.7% from the October 15th total of 695,779 shares. Approximately 10.1% of the shares of the company are short sold. Based on an average daily trading volume, of 146,238 shares, the days-to-cover ratio is currently 3.2 days.
IRMD opened at $26.15 on Wednesday. The firm has a market cap of $268.66 million, a price-to-earnings ratio of 326.88 and a beta of 1.90. Iradimed has a 52-week low of $12.51 and a 52-week high of $38.78.
Iradimed (NASDAQ:IRMD) last posted its quarterly earnings data on Tuesday, October 30th. The medical equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.04. The business had revenue of $7.62 million for the quarter, compared to the consensus estimate of $7.43 million. Iradimed had a net margin of 16.59% and a return on equity of 11.72%. As a group, equities research analysts predict that Iradimed will post 0.39 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC lifted its stake in shares of Iradimed by 205.5% in the third quarter. Acadian Asset Management LLC now owns 4,469 shares of the medical equipment provider’s stock worth $166,000 after buying an additional 3,006 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Iradimed in the third quarter worth about $208,000. Bank of America Corp DE lifted its stake in shares of Iradimed by 3,722.5% in the second quarter. Bank of America Corp DE now owns 14,793 shares of the medical equipment provider’s stock worth $307,000 after buying an additional 14,406 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Iradimed in the third quarter worth about $382,000. Finally, Northern Trust Corp lifted its stake in shares of Iradimed by 27.9% in the first quarter. Northern Trust Corp now owns 26,791 shares of the medical equipment provider’s stock worth $386,000 after buying an additional 5,850 shares in the last quarter. 18.85% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have issued reports on the stock. ValuEngine downgraded shares of Iradimed from a “strong-buy” rating to a “buy” rating in a report on Saturday. Zacks Investment Research raised shares of Iradimed from a “hold” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a report on Tuesday, November 6th. BidaskClub downgraded shares of Iradimed from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Roth Capital set a $35.00 price objective on shares of Iradimed and gave the company a “buy” rating in a report on Thursday, September 20th. Finally, TheStreet raised shares of Iradimed from a “c+” rating to a “b-” rating in a report on Monday, August 27th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.00.
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Iradimed Company Profile
IRadimed Corporation develops, manufactures, markets, and distributes magnetic resonance imaging (MRI) compatible medical devices, and related accessories and services in the United States and internationally. It offers MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets under the MRidium name; and MRI compatible patient vital signs monitoring system under the IRadimed name.
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