Roth Mkm Reaffirms “Buy” Rating for Iradimed (NASDAQ:IRMD)

Roth Mkm reissued their buy rating on shares of Iradimed (NASDAQ:IRMD) in a report published on Monday, Benzinga reports. The brokerage currently has a $65.00 price target on the medical equipment provider’s stock.

Separately, Singular Research reissued a buy rating on shares of Iradimed in a research report on Monday, April 1st.

Iradimed Trading Up 3.3 %

Shares of NASDAQ IRMD opened at $42.36 on Monday. Iradimed has a twelve month low of $36.12 and a twelve month high of $51.04. The company has a market capitalization of $536.28 million, a price-to-earnings ratio of 31.19 and a beta of 0.82. The firm has a 50-day moving average of $43.11 and a two-hundred day moving average of $43.02.

Iradimed (NASDAQ:IRMD) last issued its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Iradimed had a net margin of 26.22% and a return on equity of 24.62%. The business had revenue of $17.45 million during the quarter. As a group, research analysts predict that Iradimed will post 1.35 earnings per share for the current year.

Institutional Trading of Iradimed

A number of hedge funds have recently made changes to their positions in the stock. Copeland Capital Management LLC acquired a new position in Iradimed in the third quarter worth approximately $30,000. Gladius Capital Management LP acquired a new position in Iradimed in the third quarter worth approximately $36,000. AJOVista LLC acquired a new position in Iradimed in the fourth quarter worth approximately $66,000. Hsbc Holdings PLC acquired a new position in Iradimed in the third quarter worth approximately $251,000. Finally, Summit Global Investments increased its holdings in Iradimed by 22.5% in the fourth quarter. Summit Global Investments now owns 7,088 shares of the medical equipment provider’s stock worth $336,000 after buying an additional 1,300 shares during the last quarter. 92.34% of the stock is owned by hedge funds and other institutional investors.

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.