Iradimed (NASDAQ:IRMD) Downgraded by StockNews.com to “Buy”

Iradimed (NASDAQ:IRMD) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

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

Iradimed Stock Up 1.0 %

Shares of IRMD stock opened at $52.84 on Thursday. The firm has a 50 day moving average price of $57.22 and a two-hundred day moving average price of $53.37. The company has a market capitalization of $669.64 million, a PE ratio of 35.23 and a beta of 0.83. Iradimed has a 12-month low of $40.18 and a 12-month high of $63.29.

Iradimed (NASDAQ:IRMD) last issued its quarterly earnings data 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). The company had revenue of $19.39 million for the quarter, compared to analyst estimates of $19.09 million. Iradimed had a return on equity of 24.12% and a net margin of 26.26%. As a group, research analysts expect that Iradimed will post 1.66 EPS for the current year.

Institutional Investors Weigh In On Iradimed

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Iradimed by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 536,811 shares of the medical equipment provider’s stock valued at $29,525,000 after buying an additional 22,762 shares in the last quarter. Copeland Capital Management LLC raised its position in shares of Iradimed by 12.6% in the fourth quarter. Copeland Capital Management LLC now owns 475,563 shares of the medical equipment provider’s stock valued at $26,156,000 after buying an additional 53,138 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Iradimed by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 227,257 shares of the medical equipment provider’s stock valued at $12,499,000 after buying an additional 7,606 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Iradimed by 17.9% in the fourth quarter. Geode Capital Management LLC now owns 222,772 shares of the medical equipment provider’s stock valued at $12,255,000 after buying an additional 33,879 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Iradimed by 7.3% in the fourth quarter. Northern Trust Corp now owns 143,069 shares of the medical equipment provider’s stock valued at $7,869,000 after buying an additional 9,722 shares in the last quarter. 92.34% of the stock is currently owned by institutional investors and hedge funds.

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.