IRadimed (NASDAQ:IRMD – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.
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, StockNews.com assumed coverage on shares of IRadimed in a research report on Thursday, March 31st. They set a “buy” rating on the stock.
Shares of NASDAQ IRMD opened at $33.21 on Tuesday. The business has a 50-day moving average of $39.44 and a 200-day moving average of $43.16. The stock has a market capitalization of $417.15 million, a price-to-earnings ratio of 40.01 and a beta of 0.98. IRadimed has a fifty-two week low of $27.08 and a fifty-two week high of $55.92.
IRadimed (NASDAQ:IRMD – Get Rating) last posted its quarterly earnings results on Friday, April 29th. The medical equipment provider reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. IRadimed had a return on equity of 15.26% and a net margin of 23.22%. During the same period in the prior year, the business earned $0.11 earnings per share. On average, sell-side analysts anticipate that IRadimed will post 0.89 earnings per share for the current fiscal year.
In related news, CEO Roger E. Susi sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $46.65, for a total value of $466,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders sold 90,000 shares of company stock valued at $4,029,000. 43.70% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of IRMD. Cim LLC boosted its holdings in shares of IRadimed by 2.6% during the 4th quarter. Cim LLC now owns 11,758 shares of the medical equipment provider’s stock valued at $449,000 after acquiring an additional 294 shares in the last quarter. Martingale Asset Management L P boosted its stake in shares of IRadimed by 5.5% during the first quarter. Martingale Asset Management L P now owns 7,710 shares of the medical equipment provider’s stock valued at $346,000 after purchasing an additional 400 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of IRadimed by 162.0% during the third quarter. BNP Paribas Arbitrage SA now owns 1,095 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 677 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in IRadimed by 4.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 17,553 shares of the medical equipment provider’s stock worth $788,000 after acquiring an additional 690 shares during the last quarter. Finally, Rhumbline Advisers increased its position in IRadimed by 14.4% in the 1st quarter. Rhumbline Advisers now owns 5,925 shares of the medical equipment provider’s stock valued at $266,000 after acquiring an additional 747 shares during the period. 39.86% of the stock is owned by hedge funds and other institutional investors.
About IRadimed (Get Rating)
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 MRidium 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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