Trade Report: Today: iRadimed Corp. (IRMD) Issues FY16 Earnings Guidance

Today: iRadimed Corp. (IRMD) Issues FY16 Earnings Guidance

iRadimed Corp. (NASDAQ:IRMD) updated its FY16 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $0.60-0.63 for the period, compared to the Thomson Reuters consensus estimate of $0.62. The company issued revenue guidance of $32.9-33.2 million, compared to the consensus revenue estimate of $32.95 million.iRadimed Corp. also updated its Q3 guidance to $0.11-0.12 EPS.

A number of research firms have recently commented on IRMD. Zacks Investment Research cut iRadimed Corp. from a strong-buy rating to a hold rating in a research report on Tuesday, July 5th. Roth Capital lowered shares of iRadimed Corp. from a buy rating to a neutral rating and decreased their price target for the company from $28.00 to $11.50 in a research note on Wednesday, October 5th.

iRadimed Corp. (NASDAQ:IRMD) opened at 9.44 on Monday. The stock has a market capitalization of $100.74 million, a price-to-earnings ratio of 13.56 and a beta of 1.28. iRadimed Corp. has a 52 week low of $9.36 and a 52 week high of $33.25. The company has a 50-day moving average of $15.74 and a 200-day moving average of $17.76.

iRadimed Corp. (NASDAQ:IRMD) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. iRadimed Corp. had a net margin of 24.52% and a return on equity of 30.52%. The firm earned $9.90 million during the quarter, compared to analysts’ expectations of $9.60 million. During the same period in the previous year, the company earned $0.16 earnings per share. iRadimed Corp.’s quarterly revenue was up 30.3% compared to the same quarter last year. Analysts anticipate that iRadimed Corp. will post $0.92 earnings per share for the current year.

In other news, VP Steven M. Nardi sold 2,096 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $17.11, for a total value of $35,862.56. Following the completion of the sale, the vice president now directly owns 1,996 shares of the company’s stock, valued at $34,151.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 69.00% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its stake in shares of iRadimed Corp. by 41.7% in the second quarter. AQR Capital Management LLC now owns 48,264 shares of the company’s stock worth $1,050,000 after buying an additional 14,214 shares during the last quarter. Menta Capital LLC boosted its stake in shares of iRadimed Corp. by 23.9% in the second quarter. Menta Capital LLC now owns 41,919 shares of the company’s stock worth $912,000 after buying an additional 8,086 shares during the last quarter. State Street Corp boosted its stake in shares of iRadimed Corp. by 33.7% in the second quarter. State Street Corp now owns 42,082 shares of the company’s stock worth $917,000 after buying an additional 10,609 shares during the last quarter. Spark Investment Management LLC acquired a new stake in shares of iRadimed Corp. during the second quarter worth approximately $761,000. Finally, Ativo Capital Management LLC boosted its stake in shares of 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. 20.74% of the stock is owned by institutional investors and hedge funds.

iRadimed Corp. Company Profile

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