Roth Mkm Lowers Iradimed (NASDAQ:IRMD) Price Target to $60.00

Iradimed (NASDAQ:IRMD) had its target price dropped by equities researchers at Roth Mkm from $65.00 to $60.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the medical equipment provider’s stock. Roth Mkm’s price objective indicates a potential upside of 35.14% from the stock’s previous close.

Separately, Roth Capital reiterated a “buy” rating on shares of Iradimed in a research report on Monday, April 22nd.

Iradimed Stock Down 3.8 %

IRMD opened at $44.40 on Friday. Iradimed has a 12-month low of $36.12 and a 12-month high of $50.93. The stock has a market cap of $562.10 million, a price-to-earnings ratio of 31.49 and a beta of 0.83. The business has a 50 day moving average of $44.25 and a 200-day moving average of $43.59.

Iradimed (NASDAQ:IRMD) last released its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.05. The business had revenue of $17.93 million during the quarter, compared to analysts’ expectations of $17.70 million. Iradimed had a return on equity of 25.18% and a net margin of 26.83%. During the same period last year, the firm posted $0.33 EPS. As a group, analysts expect that Iradimed will post 1.41 earnings per share for the current year.

Hedge Funds Weigh In On Iradimed

A number of institutional investors have recently modified their holdings of the business. Rhumbline Advisers raised its holdings in shares of Iradimed by 11.5% during the 2nd quarter. Rhumbline Advisers now owns 10,969 shares of the medical equipment provider’s stock worth $482,000 after buying an additional 1,132 shares in the last quarter. Kings Path Partners LLC acquired a new position in shares of Iradimed during the 2nd quarter worth $1,055,000. Legato Capital Management LLC raised its holdings in shares of Iradimed by 15.4% during the 2nd quarter. Legato Capital Management LLC now owns 12,976 shares of the medical equipment provider’s stock worth $570,000 after buying an additional 1,727 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Iradimed by 9.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 17,584 shares of the medical equipment provider’s stock worth $773,000 after buying an additional 1,570 shares in the last quarter. Finally, Liontrust Investment Partners LLP acquired a new position in shares of Iradimed during the 2nd quarter worth $2,830,000. Institutional investors and hedge funds own 92.34% of the company’s stock.

Iradimed Company Profile

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.