Zacks: Analysts Set $16.00 Target Price for Iradimed Corp (IRMD)
Shares of Iradimed Corp (NASDAQ:IRMD) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Analysts have set a 1 year consensus target price of $16.00 for the company and are expecting that the company will post $0.06 earnings per share for the current quarter, according to Zacks. Zacks has also given Iradimed an industry rank of 174 out of 265 based on the ratings given to related companies.
Several equities research analysts recently weighed in on the company. Roth Capital assumed coverage on Iradimed in a report on Tuesday, October 31st. They set a “buy” rating and a $16.00 price target for the company. Credit Suisse Group started coverage on Iradimed in a report on Monday, November 27th. They set a “buy” rating and a $19.00 price target for the company. Zacks Investment Research downgraded Iradimed from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Finally, ValuEngine raised Iradimed from a “sell” rating to a “hold” rating in a report on Friday, October 6th.
Institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. lifted its holdings in Iradimed by 32.9% in the third quarter. Ameriprise Financial Inc. now owns 456,810 shares of the medical equipment provider’s stock valued at $4,386,000 after acquiring an additional 113,190 shares during the period. Menta Capital LLC lifted its holdings in Iradimed 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 acquiring an additional 3,823 shares during the period. Federated Investors Inc. PA lifted its holdings in Iradimed 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 acquiring an additional 2,807 shares during the period. Citigroup Inc. lifted its holdings in Iradimed 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 acquiring an additional 5,418 shares during the period. Finally, Neuberger Berman Group LLC lifted its holdings in Iradimed 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 acquiring an additional 3,500 shares during the period. 13.83% of the stock is owned by institutional investors.
Shares of Iradimed (NASDAQ:IRMD) traded down $0.20 during midday trading on Friday, hitting $15.50. The company had a trading volume of 32,256 shares, compared to its average volume of 21,322. Iradimed has a 52-week low of $7.85 and a 52-week high of $15.85. The firm has a market capitalization of $163.61, a P/E ratio of 119.23 and a beta of 1.61.
Iradimed (NASDAQ:IRMD) last issued its quarterly earnings results on Monday, October 30th. The medical equipment provider reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.35. Iradimed had a return on equity of 4.58% and a net margin of 6.51%. The firm had revenue of $5.69 million during the quarter, compared to the consensus estimate of $5.60 million. During the same period last year, the company earned $0.14 earnings per share. The company’s revenue for the quarter was down 25.9% on a year-over-year basis. equities analysts anticipate that Iradimed will post 0.05 earnings per share for the current fiscal year.
Iradimed 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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