Iradimed (IRMD) Releases FY 2018 Earnings Guidance

Iradimed (NASDAQ:IRMD) updated its FY 2018 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.50-0.51 for the period, compared to the Thomson Reuters consensus estimate of $0.47. The company issued revenue guidance of $30-30.2 million, compared to the consensus revenue estimate of $30.23 million.Iradimed also updated its Q4 2018 guidance to $0.12-0.13 EPS.

Shares of IRMD stock traded down $0.95 during trading hours on Tuesday, hitting $23.60. 505 shares of the company’s stock traded hands, compared to its average volume of 165,897. The company has a market capitalization of $280.35 million, a P/E ratio of 295.00 and a beta of 1.44. Iradimed has a 12 month low of $12.40 and a 12 month high of $38.78.

Iradimed (NASDAQ:IRMD) last released its quarterly earnings results on Tuesday, July 31st. The medical equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.04. The firm had revenue of $7.38 million during the quarter, compared to the consensus estimate of $7.26 million. Iradimed had a net margin of 9.57% and a return on equity of 8.99%. As a group, sell-side analysts expect that Iradimed will post 0.37 earnings per share for the current year.

Several equities analysts have recently issued reports on IRMD shares. Roth Capital raised their price target on shares of Iradimed from $21.00 to $26.00 and gave the company a buy rating in a research note on Wednesday, August 1st. BidaskClub raised shares of Iradimed from a buy rating to a strong-buy rating in a research note on Thursday, August 9th. TheStreet raised shares of Iradimed from a c+ rating to a b- rating in a research note on Monday, August 27th. Finally, ValuEngine raised shares of Iradimed from a buy rating to a strong-buy rating in a research note on Saturday, September 22nd. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $24.67.

In related news, CFO Christopher K. Scott sold 96,250 shares of Iradimed stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $26.05, for a total transaction of $2,507,312.50. Following the completion of the transaction, the chief financial officer now owns 32,398 shares of the company’s stock, valued at $843,967.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Francis X. Casey sold 55,000 shares of Iradimed stock in a transaction on Friday, September 14th. The stock was sold at an average price of $29.30, for a total transaction of $1,611,500.00. Following the transaction, the vice president now directly owns 98,779 shares of the company’s stock, valued at approximately $2,894,224.70. The disclosure for this sale can be found here. Insiders have sold 231,556 shares of company stock valued at $6,209,841 in the last ninety days. Insiders own 61.20% of the company’s stock.

An institutional investor recently raised its position in Iradimed stock. Bank of New York Mellon Corp increased its position in shares of Iradimed Corp (NASDAQ:IRMD) by 46.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,588 shares of the medical equipment provider’s stock after buying an additional 7,156 shares during the period. Bank of New York Mellon Corp owned 0.21% of Iradimed worth $469,000 at the end of the most recent reporting period. 20.08% of the stock is currently owned by institutional investors.

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 under the MRidium name; and MRI compatible patient vital signs monitoring system under the IRadimed name.

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