Iradimed (NASDAQ:IRMD) Sets New 12-Month High – What’s Next?

Iradimed Corporation (NASDAQ:IRMD)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $52.94 and last traded at $52.68, with a volume of 3648 shares traded. The stock had previously closed at $52.03.

Analyst Ratings Changes

Separately, Roth Mkm reduced their price objective on shares of Iradimed from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, August 2nd.

Iradimed Trading Up 0.7 %

The firm has a 50 day moving average of $48.68 and a two-hundred day moving average of $45.40. The stock has a market capitalization of $670.43 million, a PE ratio of 37.27 and a beta of 0.79.

Iradimed (NASDAQ:IRMD) last announced its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates 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 24.71% and a net margin of 26.83%. During the same quarter last year, the business posted $0.33 earnings per share. Equities research analysts forecast that Iradimed Corporation will post 1.41 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. grew its holdings in Iradimed by 73.8% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 8,925 shares of the medical equipment provider’s stock valued at $393,000 after buying an additional 3,791 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Iradimed during the first quarter valued at $476,000. BNP Paribas Financial Markets increased its position in Iradimed by 139.3% during the 1st quarter. BNP Paribas Financial Markets now owns 17,088 shares of the medical equipment provider’s stock worth $752,000 after purchasing an additional 9,948 shares in the last quarter. Swiss National Bank raised its stake in Iradimed by 8.7% in the 1st quarter. Swiss National Bank now owns 16,200 shares of the medical equipment provider’s stock valued at $713,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Isthmus Partners LLC lifted its holdings in Iradimed by 880.8% in the 1st quarter. Isthmus Partners LLC now owns 71,905 shares of the medical equipment provider’s stock valued at $3,163,000 after purchasing an additional 64,574 shares in the last quarter. 92.34% of the stock is owned by hedge funds and other institutional investors.

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.