Iradimed (NASDAQ:IRMD) Earns Buy Rating from Roth Mkm

Iradimed (NASDAQ:IRMD)‘s stock had its “buy” rating restated by equities researchers at Roth Mkm in a research report issued on Monday, Benzinga reports. They presently have a $65.00 price target on the medical equipment provider’s stock. Roth Mkm’s target price points to a potential upside of 55.13% from the company’s current price.

Separately, Singular Research reaffirmed a “buy” rating on shares of Iradimed in a research note on Monday, April 1st.

Iradimed Trading Down 1.1 %

IRMD stock opened at $41.90 on Monday. Iradimed has a 12 month low of $36.12 and a 12 month high of $51.04. The company has a 50-day moving average price of $42.98 and a 200 day moving average price of $43.02. The stock has a market cap of $530.45 million, a PE ratio of 30.81 and a beta of 0.82.

Iradimed (NASDAQ:IRMD) last released its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Iradimed had a return on equity of 24.62% and a net margin of 26.22%. The firm had revenue of $17.45 million for the quarter. Sell-side analysts forecast that Iradimed will post 1.35 EPS for the current year.

Institutional Investors Weigh In On Iradimed

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRMD. Copeland Capital Management LLC bought a new stake in Iradimed during the 3rd quarter valued at about $30,000. Gladius Capital Management LP bought a new stake in Iradimed during the 3rd quarter valued at about $36,000. AJOVista LLC bought a new stake in Iradimed during the 4th quarter valued at about $66,000. Hsbc Holdings PLC bought a new stake in Iradimed during the 3rd quarter valued at about $251,000. Finally, Summit Global Investments lifted its holdings in Iradimed by 22.5% during the 4th quarter. Summit Global Investments now owns 7,088 shares of the medical equipment provider’s stock valued at $336,000 after buying an additional 1,300 shares in the last quarter. Institutional investors own 92.34% of the company’s stock.

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.