The stock of Iradimed Corp (NASDAQ:IRMD) hit a new 52-week low and has $8.00 target or 14.00% below today’s $9.30 share price. The 8 months bearish chart indicates high risk for the $98.11 million company. The 1-year low was reported on Oct, 17 by Barchart.com. If the $8.00 price target is reached, the company will be worth $13.74 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 46,930 shares traded hands. Iradimed Corp (NASDAQ:IRMD) has declined 49.92% since March 14, 2016 and is downtrending. It has underperformed by 55.53% the S&P500.
Analysts await Iradimed Corp (NASDAQ:IRMD) to report earnings on November, 4. They expect $0.23 earnings per share, up 43.75% or $0.07 from last year’s $0.16 per share. IRMD’s profit will be $2.43 million for 10.11 P/E if the $0.23 EPS becomes a reality. After $0.19 actual earnings per share reported by Iradimed Corp for the previous quarter, Wall Street now forecasts 21.05% EPS growth.
Iradimed Corp (NASDAQ:IRMD) Ratings Coverage
Out of 2 analysts covering iRadimed (NASDAQ:IRMD), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. iRadimed has been the topic of 5 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Monday, April 4 by Roth Capital. The stock of Iradimed Corp (NASDAQ:IRMD) has “Buy” rating given on Monday, November 2 by TH Capital. TH Capital maintained it with “Buy” rating and $25 target price in Thursday, July 30 report. The stock of Iradimed Corp (NASDAQ:IRMD) has “Buy” rating given on Monday, November 2 by Roth Capital. Roth Capital downgraded the stock to “Neutral” rating in Wednesday, October 5 report.
According to Zacks Investment Research, “iRadimed Corporation engages in developing, manufacturing, marketing, and distributing magnetic resonance imaging (MRI) compatible products. It offers non-magnetic intravenous (IV) infusion pump systems, IV tubing sets, IV poles, wireless remote displays/controls under the mRidium name; side car pump modules; dose error reduction systems; Masimo SET SpO2 monitoring products; and MRI Pulse oximeters, and MRI oximeter remotes and displays under the iMagox name used during MRI procedures. iRadimed Corporation is headquartered in Winter Park, Florida.”
Insitutional Activity: The institutional sentiment decreased to 1.13 in Q2 2016. Its down 0.27, from 1.4 in 2016Q1. The ratio is negative, as 15 funds sold all Iradimed Corp shares owned while 16 reduced positions. 8 funds bought stakes while 27 increased positions. They now own 2.15 million shares or 23.57% less from 2.82 million shares in 2016Q1.
Blackrock Incorporated holds 2,407 shares or 0% of its portfolio. Globeflex Capital Limited Partnership has invested 0.22% of its portfolio in Iradimed Corp (NASDAQ:IRMD). Blackrock Institutional Trust Communications Na last reported 0% of its portfolio in the stock. Morgan Stanley holds 13,732 shares or 0% of its portfolio. Jfs Wealth Advsr Lc owns 190,000 shares or 1.14% of their US portfolio. Northern Corporation, a Illinois-based fund reported 66,463 shares. The New York-based Grp Inc Incorporated has invested 0% in Iradimed Corp (NASDAQ:IRMD). Blackrock Investment Lc reported 14,741 shares or 0% of all its holdings. Blackrock Fund Advisors, a California-based fund reported 105,283 shares. Schwab Charles Invest Management has invested 0% of its portfolio in Iradimed Corp (NASDAQ:IRMD). Timpani Cap Lc accumulated 0.69% or 74,936 shares. Gsa Cap Prtn Llp has 9,902 shares for 0.01% of their US portfolio. The Alabama-based Mesirow Fincl Investment Mngmt has invested 0.02% in Iradimed Corp (NASDAQ:IRMD). Wasatch Advsrs has 84,000 shares for 0.03% of their US portfolio. Moreover, Glenmede Trust Na has 0% invested in Iradimed Corp (NASDAQ:IRMD) for 375 shares.
Insider Transactions: Since June 9, 2016, the stock had 0 buys, and 4 selling transactions for $564,366 net activity. Another trade for 2,275 shares valued at $45,500 was made by ALLEN MONTY K on Tuesday, June 14. Waldman Louis S. sold 23,162 shares worth $440,078. Nardi Steven M. had sold 2,096 shares worth $35,857 on Monday, August 15.
More recent Iradimed Corp (NASDAQ:IRMD) news were published by: Streetinsider.com which released: “Iradimed Corp. (IRMD) Cuts Q3, FY16 Outlook” on October 04, 2016. Also Globenewswire.com published the news titled: “IRADIMED CORPORATION Announces Second Quarter 2016 Financial Results” on July 29, 2016. Seekingalpha.com‘s news article titled: “iRadimed Corporation – MRI Compatible IV Infusion Pump Quickly Becoming A …” with publication date: August 16, 2016 was also an interesting one.
IRMD Company Profile
IRADIMED CORPORATION (IRADIMED), incorporated on April 8, 2014, develops, makes, markets and distributes Magnetic Resonance Imaging (MRI) compatible products, and provides non-magnetic intravenous (IV) infusion pump systems. The Firm operates through development, manufacture and sale of MRI compatible products and IV infusion pump systems for use by hospitals and acute care facilities during MRI procedures segment. The Company’s MRidium MRI compatible IV infusion pump system has been designed with a non-magnetic ultrasonic motor, non-ferrous parts and other features in order to deliver anesthesia and other IV fluids during various MRI procedures. Each system consists of MRidium MRI compatible IV infusion pump, non-magnetic mobile stand and disposable IV tubing sets.
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