September 19, 2023
IRadimed Co. (NASDAQ:IRMD) Records Decline in Short Interest During August
Throughout the month of August, IRadimed Co. witnessed a significant decrease in short interest. On August 31st, the total short interest amounted to 76,000 shares, marking a decline of 7.2% compared to the previous count of 81,900 shares on August 15th. With an average trading volume of 36,800 shares, the current short-interest ratio stands at 2.1 days. Approximately 1.0% of the company’s shares are currently sold short.
On Tuesday, NASDAQ:IRMD opened at $46.64 per share. The business’s fifty-day simple moving average sits at $46.88 while its two-hundred-day simple moving average stands at $44.86. IRadimed boasts a market capitalization of $587.66 million, with a PE ratio of 40.21 and a beta score of 0.99. Its lowest recorded price within the past year was $26.00, whereas its highest reached $51.04.
Recently, several large investors have made adjustments to their holdings in IRadimed Co (IRMD). Resource Consulting Group Inc., for example, acquired a new stake in the company during Q2 which is valued at approximately $6,111,000. Soleus Capital Management L.P., on the other hand, augmented its position by owning an additional 60,314 shares in Q4 compared to their previous number of 745,004 shares valued at $21,076,000 overall as of now.
Moreover, leading investment management firm BlackRock Inc.’s holdings in IRadimed increased by acquiring an additional 52,655 shares during Q2 with their current ownership totaling to approximately 4959,965 shares worth $23,677,000. Bares Capital Management Inc. also boosted its holdings by 21.1% during Q4, now possessing 271,300 shares in the company valued at $7,675,000. Additionally, Millennium Management LLC witnessed a significant increase of 274.7% in their IRadimed holdings during Q4, with the current number of shares at 59,344 worth $1,679,000.
Notably, hedge funds and other institutional investors presently account for approximately 48.61% of IRadimed Co.’s stock ownership.
The topic of IRMD has been the subject of various research analyst reports recently. In a report on August 3rd, Lake Street Capital upped their target price on IRadimed from $55.00 to $60.00. Furthermore, StockNews.com initiated coverage on IRadimed in a research note on August 17th and provided a “buy” rating for the stock.
In conclusion, IRadimed Co (IRMD) observed a decline in short interest during August as recorded by NASDAQ. Investors will continue to monitor changes in short interest and keep track of this growing medical equipment provider.
Please note that information mentioned in this article is accurate as of September 19th, 2023.
Updated on: 19/09/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
We did not find social sentiment data for this stock
|Analyst / firm||Rating|
IRadimed Reports Strong Earnings and Draws Interest of Large Investors
September 19, 2023
IRadimed Reports Strong Earnings and Continues to Attract Large Investors
Medical equipment provider IRadimed (NASDAQ:IRMD) recently announced its earnings results for the quarter ending on August 3rd. The company reported earnings per share (EPS) of $0.33, surpassing analysts’ consensus estimates of $0.28 by $0.05. Additionally, IRadimed generated revenue of $16.13 million during the quarter, exceeding analysts’ expectations of $15.70 million. These positive financial outcomes have caught the attention of both investors and industry experts.
With a return on equity of 21.22% and a net margin of 24.53%, IRadimed has demonstrated its ability to generate substantial profits while maintaining a strong financial position within the market. This positioning has led sell-side analysts to anticipate that the company will post earnings per share of 1.27 for the current fiscal year.
The exceptional performance of IRadimed has not gone unnoticed by large investors, as several have recently modified their holdings in the company. Resource Consulting Group Inc., for example, purchased a new stake in IRadimed valued at $6,111,000 during the second quarter. Soleus Capital Management L.P., on the other hand, increased its position in IRadimed by 8.8% in the fourth quarter to own 745,004 shares worth $21,076,000.
Institutional investors BlackRock Inc., Bares Capital Management Inc., and Millennium Management LLC have also expressed confidence in IRadimed’s future prospects by increasing their positions in the company’s stock over recent quarters.
It is worth noting that hedge funds and institutional investors presently own approximately 48.61% of IRadimed’s stock, reflecting a high degree of trust placed in its business model and growth potential.
In other news related to IRadimed, CEO Roger E. Susi recently sold 3,101 shares of the company’s stock in two separate transactions on September 12th. The shares were sold at an average price of $45.38, resulting in a total transaction value of $140,723.38.
Following these sales, Susi retains ownership of 319,849 shares of IRadimed stock, which are valued at approximately $14,514,747.62. These transactions were disclosed in filings with the Securities and Exchange Commission (SEC) and can be accessed through the SEC website.
Furthermore, it is worth mentioning that Susi had previously sold 10,000 shares of IRadimed stock in July for $45.70 per share, amounting to a total value of $457,000.00.
Overall, insiders have sold a significant number of shares, totaling 71,125 within the last quarter and valued at $3,355,912. Despite this activity by company insiders, it is important to note that insiders currently own about 42.60% of IRadimed’s stock.
IRadimed’s consistent financial success and its ability to attract significant institutional investors provide a positive outlook for its future performance in the marketplace.
Disclaimer: The information contained in this article does not constitute financial advice or investment recommendations. Readers are advised to conduct their own research and consult with professionals before making investment decisions based on this article.