IRadimed (NASDAQ:IRMD) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of IRadimed (NASDAQ:IRMDGet Rating) from a hold rating to a buy rating in a research note published on Friday morning, Zacks.com reports. The firm currently has $37.00 target price 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, StockNews.com began coverage on IRadimed in a research note on Thursday, March 31st. They issued a buy rating on the stock.

NASDAQ:IRMD opened at $31.22 on Friday. The stock’s 50 day moving average price is $44.69 and its two-hundred day moving average price is $43.68. The firm has a market capitalization of $392.12 million, a price-to-earnings ratio of 37.61 and a beta of 0.98. IRadimed has a 12-month low of $27.08 and a 12-month high of $55.92.

IRadimed (NASDAQ:IRMDGet Rating) last released its quarterly earnings data on Friday, April 29th. The medical equipment provider reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the business earned $0.11 EPS. On average, equities research analysts forecast that IRadimed will post 0.89 earnings per share for the current fiscal year.

The company also recently announced a dividend, which was paid on Thursday, February 24th. Stockholders of record on Thursday, February 17th were paid a dividend of $1.00 per share. The ex-dividend date was Wednesday, February 16th.

In other IRadimed news, CFO Christopher K. Scott sold 19,286 shares of the firm’s stock in a transaction on Friday, February 11th. The stock was sold at an average price of $50.06, for a total transaction of $965,457.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Roger E. Susi sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $33.53, for a total value of $335,300.00. Following the transaction, the chief executive officer now owns 622,950 shares in the company, valued at approximately $20,887,513.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 153,664 shares of company stock worth $7,153,184. 48.10% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors bought a new position in IRadimed during the 3rd quarter worth $28,000. BNP Paribas Arbitrage SA increased its stake in IRadimed by 162.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 1,095 shares of the medical equipment provider’s stock worth $37,000 after acquiring an additional 677 shares during the period. Dorsey Wright & Associates bought a new position in IRadimed during the 1st quarter worth $46,000. Advisor Group Holdings Inc. increased its stake in IRadimed by 397.5% during the 4th quarter. Advisor Group Holdings Inc. now owns 1,189 shares of the medical equipment provider’s stock worth $55,000 after acquiring an additional 950 shares during the period. Finally, Citigroup Inc. increased its stake in IRadimed by 122.9% during the 4th quarter. Citigroup Inc. now owns 1,616 shares of the medical equipment provider’s stock worth $75,000 after acquiring an additional 891 shares during the period. Hedge funds and other institutional investors own 39.86% of the company’s stock.

IRadimed Company Profile (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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