iRadimed Corp. (NASDAQ:IRMD) issued an update on its third quarter earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $0.11-0.12 for the period, compared to the Thomson Reuters consensus estimate of $0.11. The company issued revenue guidance of $7.5-7.6 million, compared to the consensus revenue estimate of $7.50 million.iRadimed Corp. also updated its FY16 guidance to $0.60-0.63 EPS.
iRadimed Corp. (NASDAQ:IRMD) opened at 9.44 on Monday. The company’s 50-day moving average price is $15.74 and its 200-day moving average price is $17.76. iRadimed Corp. has a 52-week low of $9.36 and a 52-week high of $33.25. The company has a market cap of $100.74 million, a price-to-earnings ratio of 13.56 and a beta of 1.28.
iRadimed Corp. (NASDAQ:IRMD) last released its quarterly earnings results on Friday, July 29th. The company reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The company earned $9.90 million during the quarter, compared to analyst estimates of $9.60 million. iRadimed Corp. had a return on equity of 30.52% and a net margin of 24.52%. The firm’s revenue was up 30.3% on a year-over-year basis. During the same quarter last year, the business posted $0.16 earnings per share. Equities research analysts expect that iRadimed Corp. will post $0.92 EPS for the current fiscal year.
Several research analysts recently commented on IRMD shares. Zacks Investment Research lowered iRadimed Corp. from a strong-buy rating to a hold rating in a research report on Tuesday, July 5th. Roth Capital lowered iRadimed Corp. from a buy rating to a neutral rating and dropped their target price for the company from $28.00 to $11.50 in a research report on Wednesday, October 5th.
In other iRadimed Corp. 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 completion of the transaction, the vice president now owns 1,996 shares in the company, valued at $34,151.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 69.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in IRMD. BlackRock Advisors LLC raised its position in shares of iRadimed Corp. by 5.6% in the second quarter. BlackRock Advisors LLC now owns 8,343 shares of the company’s stock valued at $182,000 after buying an additional 443 shares during the period. Teachers Advisors Inc. raised its stake in shares of iRadimed Corp. by 43.3% in the second quarter. Teachers Advisors Inc. now owns 5,670 shares of the company’s stock worth $123,000 after buying an additional 1,712 shares during the last quarter. BlackRock Investment Management LLC raised its stake in shares of iRadimed Corp. by 50.6% in the second quarter. BlackRock Investment Management LLC now owns 14,741 shares of the company’s stock worth $321,000 after buying an additional 4,954 shares during the last quarter. Menta Capital LLC raised 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. Finally, State Street Corp raised 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. Institutional investors and hedge funds own 20.74% of the company’s stock.
iRadimed Corp. Company Profile