Roth Capital Weighs in on Iradimed Corporation’s Q1 2024 Earnings (NASDAQ:IRMD)

Iradimed Corporation (NASDAQ:IRMD) – Equities research analysts at Roth Capital issued their Q1 2024 earnings per share (EPS) estimates for Iradimed in a research note issued on Monday, April 22nd. Roth Capital analyst J. Wittes expects that the medical equipment provider will earn $0.31 per share for the quarter. Roth Capital currently has a “Buy” rating on the stock. The consensus estimate for Iradimed’s current full-year earnings is $1.42 per share. Roth Capital also issued estimates for Iradimed’s 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 brokerages have also recently commented on IRMD. Roth Mkm reaffirmed a “buy” rating and set a $65.00 price target on shares of Iradimed in a research report on Monday. Singular Research reissued a “buy” rating on shares of Iradimed in a report on Monday, April 1st.

Iradimed Price Performance

Shares of IRMD stock opened at $41.47 on Thursday. Iradimed has a 1-year low of $36.12 and a 1-year high of $51.04. The stock’s fifty day moving average price is $42.81 and its 200 day moving average price is $43.01. The company has a market cap of $525.01 million, a price-to-earnings ratio of 30.49 and a beta of 0.82.

Iradimed (NASDAQ:IRMD) last announced its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $0.36 earnings per share (EPS) 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 company had revenue of $17.45 million during the quarter.

Institutional Trading of Iradimed

Several hedge funds have recently modified their holdings of IRMD. Vanguard Group Inc. increased its holdings in Iradimed by 2.7% in the third quarter. Vanguard Group Inc. now owns 412,151 shares of the medical equipment provider’s stock valued at $18,287,000 after buying an additional 10,932 shares during the last quarter. RK Capital Management LLC grew its holdings in shares of Iradimed by 13.2% during the fourth quarter. RK Capital Management LLC now owns 340,400 shares of the medical equipment provider’s stock worth $16,159,000 after buying an additional 39,600 shares during the last quarter. Ranger Investment Management L.P. grew 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 worth $10,615,000 after buying an additional 11,465 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Iradimed by 2.3% during the fourth quarter. Russell Investments Group Ltd. now owns 211,288 shares of the medical equipment provider’s stock worth $10,030,000 after buying an additional 4,715 shares during the last quarter. Finally, Resource Consulting Group Inc. purchased a new position in shares of Iradimed during the fourth quarter worth about $4,889,000. 92.34% of the stock is currently owned by institutional investors and hedge funds.

About Iradimed

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.