Roth Capital Reiterates “Buy” Rating for Iradimed (NASDAQ:IRMD)

Roth Capital reissued their buy rating on shares of Iradimed (NASDAQ:IRMD) in a research report sent to investors on Monday morning, Zacks.com reports. Roth Capital also issued estimates for Iradimed’s Q1 2024 earnings at $0.31 EPS, Q2 2024 earnings at $0.35 EPS, Q3 2024 earnings at $0.34 EPS, Q4 2024 earnings at $0.39 EPS, FY2024 earnings at $1.39 EPS and FY2025 earnings at $1.72 EPS.

A number of other equities analysts have also recently issued reports on the stock. Singular Research reiterated a buy rating on shares of Iradimed in a research report on Monday, April 1st. Roth Mkm reissued a buy rating and set a $65.00 target price on shares of Iradimed in a research note on Monday.

Iradimed Trading Up 1.3 %

Shares of NASDAQ:IRMD opened at $42.44 on Monday. The firm has a 50 day moving average of $42.92 and a 200-day moving average of $43.02. The stock has a market capitalization of $537.29 million, a PE ratio of 31.21 and a beta of 0.82. Iradimed has a 12 month low of $36.12 and a 12 month high of $51.04.

Iradimed (NASDAQ:IRMD) last issued its earnings results on Thursday, February 8th. The medical equipment provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The firm had revenue of $17.45 million during the quarter. Iradimed had a net margin of 26.22% and a return on equity of 24.62%. On average, research analysts predict that Iradimed will post 1.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Iradimed

Several institutional investors have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. lifted its stake in Iradimed by 73.8% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 8,925 shares of the medical equipment provider’s stock valued at $393,000 after buying an additional 3,791 shares during the period. Bridge City Capital LLC increased its stake in Iradimed by 23.5% in the first quarter. Bridge City Capital LLC now owns 42,183 shares of the medical equipment provider’s stock valued at $1,856,000 after purchasing an additional 8,034 shares in the last quarter. Cim LLC acquired a new position in shares of Iradimed during the fourth quarter valued at about $449,000. Ranger Investment Management L.P. raised its holdings in shares of Iradimed by 5.4% during the fourth quarter. Ranger Investment Management L.P. now owns 223,612 shares of the medical equipment provider’s stock valued at $10,615,000 after purchasing an additional 11,465 shares during the period. Finally, Aristides Capital LLC raised its holdings in shares of Iradimed by 7.3% during the fourth quarter. Aristides Capital LLC now owns 9,873 shares of the medical equipment provider’s stock valued at $469,000 after purchasing an additional 673 shares during the period. 92.34% of the stock is owned by institutional investors and hedge funds.

Iradimed Company Profile

IRADIMED CORPORATION develops, manufactures, markets, and distributes magnetic resonance imaging (MRI) compatible medical devices and related accessories, and disposables and services in the United States and internationally. It offers MRidium MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets; MRI compatible patient vital signs monitoring system; and 3600 FMD1 with RALU ferromagnetic detection device.