Iradimed (NASDAQ:IRMD) Stock Rating Upgraded by Zacks Investment Research

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Zacks Investment Research upgraded shares of Iradimed (NASDAQ:IRMD) from a hold rating to a buy rating in a research note issued to investors on Saturday morning, Zacks.com reports. The brokerage currently has $26.00 price objective on the medical equipment provider’s stock.

According to Zacks, “iRadimed Corporation engages in developing, manufacturing, marketing, and distributing magnetic resonance imaging (MRI) compatible products. It offers non-magnetic intravenous (IV) infusion pump systems, IV tubing sets, IV poles, wireless remote displays/controls under the mRidium name; side car pump modules; dose error reduction systems; Masimo SET SpO2 monitoring products; and MRI Pulse oximeters, and MRI oximeter remotes and displays under the iMagox name used during MRI procedures. iRadimed Corporation is headquartered in Winter Park, Florida. “

Separately, ValuEngine raised Iradimed from a sell rating to a hold rating in a research note on Wednesday, July 31st.

Shares of IRMD stock traded up $0.12 during trading hours on Friday, hitting $23.08. 42,658 shares of the company’s stock were exchanged, compared to its average volume of 70,061. The company has a quick ratio of 9.39, a current ratio of 10.29 and a debt-to-equity ratio of 0.06. The firm has a market cap of $261.04 million, a P/E ratio of 53.67 and a beta of 1.56. The firm has a 50 day moving average of $21.30 and a two-hundred day moving average of $21.96. Iradimed has a fifty-two week low of $16.68 and a fifty-two week high of $30.90.

Iradimed (NASDAQ:IRMD) last announced its earnings results on Tuesday, July 30th. The medical equipment provider reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.05. Iradimed had a return on equity of 14.78% and a net margin of 23.92%. The business had revenue of $9.23 million during the quarter, compared to the consensus estimate of $8.91 million. On average, equities analysts forecast that Iradimed will post 0.67 earnings per share for the current fiscal year.

In related news, VP Brent Johnson sold 5,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $22.83, for a total value of $114,150.00. Following the completion of the transaction, the vice president now directly owns 3,368 shares of the company’s stock, valued at approximately $76,891.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Louis S. Waldman sold 25,000 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $22.71, for a total value of $567,750.00. Following the completion of the transaction, the insider now directly owns 2,005 shares of the company’s stock, valued at $45,533.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,815 shares of company stock valued at $2,060,352. 56.80% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP acquired a new stake in Iradimed during the first quarter worth about $241,000. Navellier & Associates Inc increased its stake in Iradimed by 6.7% during the second quarter. Navellier & Associates Inc now owns 131,727 shares of the medical equipment provider’s stock worth $2,694,000 after acquiring an additional 8,289 shares during the last quarter. Strs Ohio increased its stake in Iradimed by 7.5% during the second quarter. Strs Ohio now owns 20,100 shares of the medical equipment provider’s stock worth $411,000 after acquiring an additional 1,400 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Iradimed by 68.7% during the second quarter. Municipal Employees Retirement System of Michigan now owns 21,210 shares of the medical equipment provider’s stock worth $434,000 after acquiring an additional 8,640 shares during the last quarter. Finally, Mondrian Investment Partners LTD increased its stake in Iradimed by 33.0% during the second quarter. Mondrian Investment Partners LTD now owns 163,919 shares of the medical equipment provider’s stock worth $3,352,000 after acquiring an additional 40,703 shares during the last quarter. 30.91% of the stock is owned by hedge funds and other institutional investors.

About Iradimed

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; and MRI compatible patient vital signs monitoring system.

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