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

Iradimed (NASDAQ:IRMD)‘s stock had its “buy” rating reiterated by equities researchers at Roth Mkm in a research report issued on Friday,Benzinga reports. They currently have a $72.00 price target on the medical equipment provider’s stock, up from their previous price target of $60.00. Roth Mkm’s price target suggests a potential upside of 29.45% from the stock’s previous close.

Separately, StockNews.com cut Iradimed from a “strong-buy” rating to a “buy” rating in a research note on Thursday.

Iradimed Stock Up 0.4 %

Iradimed stock traded up $0.21 during mid-day trading on Friday, hitting $55.62. 26,118 shares of the stock were exchanged, compared to its average volume of 41,545. The firm’s fifty day simple moving average is $57.16 and its two-hundred day simple moving average is $52.02. Iradimed has a 12 month low of $40.18 and a 12 month high of $63.29. The stock has a market capitalization of $704.71 million, a price-to-earnings ratio of 38.10 and a beta of 0.82.

Iradimed (NASDAQ:IRMD) last released its earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.05). Iradimed had a net margin of 26.12% and a return on equity of 23.99%. As a group, analysts forecast that Iradimed will post 1.52 earnings per share for the current fiscal year.

Insider Activity at Iradimed

In other Iradimed news, CFO John Glenn sold 2,500 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 4,383 shares in the company, valued at approximately $237,470.94. The trade was a 36.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 37.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. R Squared Ltd acquired a new stake in shares of Iradimed in the 4th quarter worth about $30,000. US Bancorp DE raised its stake in shares of 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 purchasing an additional 510 shares during the last quarter. Huntington National Bank lifted its holdings in shares of Iradimed by 51.3% in the third quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider’s stock valued at $75,000 after purchasing an additional 504 shares in the last quarter. Gladius Capital Management LP boosted its position in shares of Iradimed by 126.6% during the third quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider’s stock valued at $87,000 after buying an additional 965 shares during the last quarter. Finally, Quantbot Technologies LP grew its holdings in Iradimed by 83.0% during the third quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider’s stock worth $117,000 after buying an additional 1,052 shares in the last quarter. 92.34% of the stock is currently owned by institutional investors and hedge funds.

About Iradimed

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.