iRadimed Corp. (NASDAQ:IRMD) released its quarterly earnings data on Friday. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.03. iRadimed Corp. had a return on equity of 28.43% and a net margin of 24.02%. The firm earned $7.70 million during the quarter, compared to analyst estimates of $7.50 million. During the same period in the prior year, the company posted $0.19 earnings per share. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. iRadimed Corp. updated its Q4 guidance to $0.04-0.06 EPS.
Shares of iRadimed Corp. (NASDAQ:IRMD) opened at 9.60 on Monday. iRadimed Corp. has a 52 week low of $9.07 and a 52 week high of $33.25. The stock has a 50 day moving average price of $13.44 and a 200-day moving average price of $17.25. The firm has a market capitalization of $102.57 million, a price-to-earnings ratio of 14.16 and a beta of 1.28.
Several research firms have issued reports on IRMD. Zacks Investment Research lowered iRadimed Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Roth Capital lowered iRadimed Corp. from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $28.00 to $11.50 in a research note on Wednesday, October 5th.
In related news, VP Steven M. Nardi sold 2,096 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $17.11, for a total transaction of $35,862.56. Following the transaction, the vice president now directly owns 1,996 shares of the company’s stock, valued at approximately $34,151.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 69.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Conestoga Capital Advisors LLC raised its position in iRadimed Corp. by 99.0% in the third quarter. Conestoga Capital Advisors LLC now owns 572,885 shares of the company’s stock worth $9,733,000 after buying an additional 285,050 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in iRadimed Corp. during the second quarter worth $1,011,000. Ativo Capital Management LLC raised its position in iRadimed Corp. by 173.0% in the second quarter. Ativo Capital Management LLC now owns 57,347 shares of the company’s stock worth $1,248,000 after buying an additional 36,340 shares during the last quarter. Spark Investment Management LLC acquired a new position in iRadimed Corp. during the second quarter worth $761,000. Finally, BlackRock Fund Advisors raised its position in iRadimed Corp. by 37.4% in the second quarter. BlackRock Fund Advisors now owns 105,283 shares of the company’s stock worth $2,291,000 after buying an additional 28,638 shares during the last quarter. 23.57% of the stock is currently owned by institutional investors and hedge funds.
About iRadimed Corp.