Iradimed (NASDAQ:IRMD) Downgraded by ValuEngine to Sell

ValuEngine lowered shares of Iradimed (NASDAQ:IRMD) from a hold rating to a sell rating in a report published on Thursday morning, ValuEngine reports.

Other research analysts also recently issued reports about the company. Zacks Investment Research raised HB Fuller from a sell rating to a hold rating in a research report on Wednesday, July 3rd. BidaskClub raised Zogenix from a sell rating to a hold rating in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Iradimed has an average rating of Hold and an average target price of $31.50.

Shares of NASDAQ IRMD opened at $18.06 on Thursday. The company has a current ratio of 9.48, a quick ratio of 8.63 and a debt-to-equity ratio of 0.06. The stock has a 50 day simple moving average of $20.41. The company has a market cap of $201.50 million, a P/E ratio of 42.00 and a beta of 1.65. Iradimed has a 12 month low of $17.64 and a 12 month high of $38.78.

Iradimed (NASDAQ:IRMD) last issued its quarterly earnings results on Tuesday, April 30th. The medical equipment provider reported $0.11 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.11. The company had revenue of $8.44 million for the quarter, compared to the consensus estimate of $8.38 million. Iradimed had a return on equity of 13.98% and a net margin of 23.00%. Sell-side analysts expect that Iradimed will post 0.64 earnings per share for the current year.

In other Iradimed news, VP Brent Johnson sold 3,000 shares of Iradimed stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $21.83, for a total value of $65,490.00. Following the transaction, the vice president now directly owns 4,368 shares of the company’s stock, valued at approximately $95,353.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 28,000 shares of company stock worth $587,710. Company insiders own 56.80% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ranger Investment Management L.P. increased its position in shares of Iradimed by 13.3% during the fourth quarter. Ranger Investment Management L.P. now owns 190,226 shares of the medical equipment provider’s stock valued at $4,653,000 after purchasing an additional 22,341 shares during the period. Cadence Capital Management LLC increased its position in shares of Iradimed by 64.7% during the first quarter. Cadence Capital Management LLC now owns 129,955 shares of the medical equipment provider’s stock valued at $3,650,000 after purchasing an additional 51,050 shares during the period. RK Capital Management LLC bought a new stake in shares of Iradimed during the first quarter valued at approximately $3,648,000. Spark Investment Management LLC increased its position in shares of Iradimed by 86.4% during the first quarter. Spark Investment Management LLC now owns 56,100 shares of the medical equipment provider’s stock valued at $1,575,000 after purchasing an additional 26,000 shares during the period. Finally, Fiera Capital Corp bought a new stake in shares of Iradimed during the first quarter valued at approximately $1,442,000. Institutional investors and hedge funds own 23.53% 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 services in the United States and internationally. It offers MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets; and MRI compatible patient vital signs monitoring system.

Further Reading: Put Option Volume

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Iradimed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iradimed and related companies with MarketBeat.com's FREE daily email newsletter.