Iradimed (NASDAQ:IRMD) Downgraded by StockNews.com to "Buy"

Iradimed (NASDAQ:IRMD - Get Free Report) was downgraded by analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a report released on Thursday.

Separately, Roth Mkm reaffirmed a "buy" rating and issued a $72.00 target price (up from $60.00) on shares of Iradimed in a report on Friday, February 14th.

Iradimed Stock Down 2.6 %

NASDAQ:IRMD traded down $1.40 during trading hours on Thursday, reaching $51.44. 21,808 shares of the stock were exchanged, compared to its average volume of 41,400. The company has a market capitalization of $654.06 million, a price-to-earnings ratio of 34.29 and a beta of 0.83. The business has a 50-day moving average of $57.22 and a two-hundred day moving average of $53.37. Iradimed has a twelve month low of $40.18 and a twelve month high of $63.29.

Iradimed (NASDAQ:IRMD - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.05). Iradimed had a net margin of 26.26% and a return on equity of 24.12%. The company had revenue of $19.39 million during the quarter, compared to analysts' expectations of $19.09 million. On average, research analysts forecast that Iradimed will post 1.66 EPS for the current fiscal year.

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Hedge Funds Weigh In On Iradimed

A number of large investors have recently modified their holdings of the business. R Squared Ltd acquired a new position in Iradimed during the fourth quarter worth $30,000. US Bancorp DE increased its holdings in Iradimed by 476.6% in the fourth quarter. US Bancorp DE now owns 617 shares of the medical equipment provider's stock valued at $34,000 after buying an additional 510 shares in the last quarter. Huntington National Bank lifted its position in shares of Iradimed by 51.3% during the 3rd quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider's stock valued at $75,000 after acquiring an additional 504 shares during the period. Gladius Capital Management LP boosted its stake in shares of Iradimed by 126.6% during the 3rd quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider's stock worth $87,000 after acquiring an additional 965 shares in the last quarter. Finally, Quantbot Technologies LP boosted its stake in shares of Iradimed by 83.0% during the 3rd quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider's stock worth $117,000 after acquiring an additional 1,052 shares in the last quarter. 92.34% of the stock is owned by hedge funds and other institutional investors.

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.