Iradimed (NASDAQ:IRMD) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Iradimed (NASDAQ:IRMD) from a buy rating to a strong-buy rating in a research note released on Friday.

Separately, Roth Mkm reiterated a “buy” rating and issued a $72.00 price target (up from $60.00) on shares of Iradimed in a report on Friday, February 14th.

Iradimed Price Performance

Shares of NASDAQ:IRMD opened at $56.24 on Friday. Iradimed has a 1 year low of $40.18 and a 1 year high of $63.29. The stock’s fifty day moving average price is $57.40 and its 200-day moving average price is $52.48. The company has a market cap of $712.56 million, a P/E ratio of 37.49 and a beta of 0.82.

Iradimed (NASDAQ:IRMD) last announced its quarterly earnings data on Thursday, February 13th. The medical equipment provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.05). The firm had revenue of $19.39 million for the quarter, compared to the consensus estimate of $19.09 million. Iradimed had a net margin of 26.26% and a return on equity of 24.12%. On average, sell-side analysts anticipate that Iradimed will post 1.66 earnings per share for the current year.

Iradimed Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Monday, February 24th. This is an increase from Iradimed’s previous quarterly dividend of $0.15. Iradimed’s dividend payout ratio is 40.00%.

Insider Activity at Iradimed

In related news, CFO John Glenn sold 2,500 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $54.18, for a total transaction of $135,450.00. Following the completion of the transaction, the chief financial officer now owns 4,383 shares of the company’s stock, valued at approximately $237,470.94. This trade represents a 36.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 37.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IRMD. R Squared Ltd acquired a new stake in Iradimed in the 4th quarter valued at about $30,000. US Bancorp DE lifted its stake in Iradimed by 476.6% in the fourth quarter. US Bancorp DE now owns 617 shares of the medical equipment provider’s stock worth $34,000 after acquiring an additional 510 shares during the last quarter. Huntington National Bank grew its holdings in Iradimed by 51.3% during the 3rd quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider’s stock worth $75,000 after acquiring an additional 504 shares in the last quarter. Gladius Capital Management LP increased its position in shares of Iradimed by 126.6% in the 3rd quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider’s stock valued at $87,000 after purchasing an additional 965 shares during the last quarter. Finally, Quantbot Technologies LP raised its holdings in shares of Iradimed by 83.0% in the 3rd quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider’s stock valued at $117,000 after purchasing an additional 1,052 shares in the last quarter. Institutional investors and hedge funds own 92.34% of the company’s stock.

Iradimed Company Profile

IRadimed Corp. engages in the development, manufacture, marketing, and distribution of Magnetic Resonance Imaging compatible medical devices. It also provides a non-magnetic Intravenous infusion pump system that is specifically designed for use during MRI procedures. The company was founded by Roger Susi in July 1992 and is headquartered in Winter Springs, FL.