Iradimed (NASDAQ:IRMD) Announces Quarterly Earnings Results

Iradimed (NASDAQ:IRMD) issued its quarterly earnings data on Thursday. The medical equipment provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.05), Zacks reports. Iradimed had a return on equity of 23.99% and a net margin of 26.12%.

Iradimed Stock Down 10.5 %

Shares of IRMD stock traded down $6.38 during mid-day trading on Thursday, reaching $54.11. 38,732 shares of the stock traded hands, compared to its average volume of 39,580. Iradimed has a 1-year low of $40.18 and a 1-year high of $63.29. The company has a market cap of $685.51 million, a price-to-earnings ratio of 36.54 and a beta of 0.82. The stock’s fifty day simple moving average is $57.16 and its two-hundred day simple moving average is $52.02.

Analysts Set New Price Targets

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

Insider Buying and Selling at Iradimed

In other Iradimed news, CFO John Glenn sold 2,500 shares of the firm’s 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 in the company, 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 Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 37.10% 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.