Iradimed (NASDAQ:IRMD) Updates FY 2024 Earnings Guidance

Iradimed (NASDAQ:IRMD) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.640-1.670 for the period, compared to the consensus earnings per share estimate of 1.560. The company issued revenue guidance of $72.7 million-$73.1 million, compared to the consensus revenue estimate of $72.6 million. Iradimed also updated its Q4 2024 guidance to 0.420-0.450 EPS.

Analyst Ratings Changes

Separately, Roth Mkm dropped their target price on Iradimed from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd.

Iradimed Price Performance

NASDAQ IRMD traded down $0.97 during midday trading on Friday, hitting $48.30. 32,944 shares of the company traded hands, compared to its average volume of 28,110. The company has a market cap of $611.96 million, a PE ratio of 33.08 and a beta of 0.79. The company’s 50-day simple moving average is $48.98 and its 200-day simple moving average is $45.56. Iradimed has a 52 week low of $39.24 and a 52 week high of $53.99.

Iradimed (NASDAQ:IRMD) last announced its earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.05. The business had revenue of $17.93 million for the quarter, compared to analysts’ expectations of $17.70 million. Iradimed had a return on equity of 24.59% and a net margin of 26.12%. During the same quarter last year, the firm earned $0.33 EPS. On average, research analysts predict that Iradimed will post 1.47 earnings per share for the current year.

Iradimed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.60 annualized dividend and a yield of 1.24%. Iradimed’s dividend payout ratio (DPR) is presently 41.10%.

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.