Analysts at Credit Suisse Group initiated coverage on shares of iRadimed (NASDAQ:IRMD) in a research note issued on Monday. The firm set a “buy” rating and a $19.00 price target on the medical equipment provider’s stock. Credit Suisse Group’s price target points to a potential upside of 42.86% from the company’s current price.
Several other analysts have also weighed in on the company. Roth Capital initiated coverage on iRadimed in a report on Tuesday, October 31st. They issued a “buy” rating and a $16.00 price objective for the company. ValuEngine raised iRadimed from a “sell” rating to a “hold” rating in a report on Friday, October 6th. Finally, Zacks Investment Research downgraded iRadimed from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $15.33.
Shares of iRadimed (NASDAQ IRMD) opened at $13.30 on Monday. The firm has a market capitalization of $142.50, a price-to-earnings ratio of 103.85 and a beta of 1.67. iRadimed has a twelve month low of $7.85 and a twelve month high of $15.00.
iRadimed (NASDAQ:IRMD) last announced its quarterly earnings data on Monday, October 30th. The medical equipment provider reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.35. The business had revenue of $5.69 million during the quarter, compared to analyst estimates of $5.60 million. iRadimed had a return on equity of 4.58% and a net margin of 6.51%. The company’s revenue was down 25.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.14 earnings per share. research analysts forecast that iRadimed will post 0.05 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. lifted its holdings in shares of iRadimed by 32.9% during the third quarter. Ameriprise Financial Inc. now owns 456,810 shares of the medical equipment provider’s stock valued at $4,386,000 after purchasing an additional 113,190 shares during the last quarter. Connors Investor Services Inc. lifted its holdings in shares of iRadimed by 10.0% during the second quarter. Connors Investor Services Inc. now owns 33,000 shares of the medical equipment provider’s stock valued at $284,000 after purchasing an additional 3,000 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of iRadimed by 50.8% during the second quarter. Citigroup Inc. now owns 16,082 shares of the medical equipment provider’s stock valued at $138,000 after purchasing an additional 5,418 shares during the last quarter. Menta Capital LLC lifted its holdings in shares of iRadimed by 5.7% during the second quarter. Menta Capital LLC now owns 70,476 shares of the medical equipment provider’s stock valued at $606,000 after purchasing an additional 3,823 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in shares of iRadimed by 23.3% during the second quarter. Neuberger Berman Group LLC now owns 18,500 shares of the medical equipment provider’s stock valued at $159,000 after purchasing an additional 3,500 shares during the last quarter. 13.83% of the stock is owned by institutional investors and hedge funds.
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IRADIMED CORPORATION (IRADIMED) develops, manufactures, markets and distributes Magnetic Resonance Imaging (MRI) compatible products, and provides non-magnetic intravenous (IV) infusion pump systems. The Company operates through development, manufacture and sale of MRI compatible products and IV infusion pump systems for use by hospitals and acute care facilities during MRI procedures segment.
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