Price Action Report: How Analysts Feel About Iradimed Corp After Achieving 52-Week Low?

Price Action Report: How Analysts Feel About Iradimed Corp After Achieving 52 Week Low?

The stock of Iradimed Corp (NASDAQ:IRMD) hit a new 52-week low and has $8.05 target or 11.00% below today’s $9.05 share price. The 7 months bearish chart indicates high risk for the $96.59M company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $8.05 price target is reached, the company will be worth $10.62M 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. The stock decreased 2.69% or $0.25 during the last trading session, hitting $9.05. About 38,789 shares traded hands. Iradimed Corp (NASDAQ:IRMD) has declined 51.96% since April 1, 2016 and is downtrending. It has underperformed by 53.18% the S&P500.

Analysts await Iradimed Corp (NASDAQ:IRMD) to report earnings on November, 4. They expect $0.23 EPS, up 43.75% or $0.07 from last year’s $0.16 per share. IRMD’s profit will be $2.45M for 9.84 P/E if the $0.23 EPS becomes a reality. After $0.19 actual EPS 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. $30 is the highest target while $25 is the lowest. The $27.50 average target is 203.87% above today’s ($9.05) stock price. iRadimed has been the topic of 5 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Roth Capital on Monday, November 2. On Wednesday, October 5 the stock rating was downgraded by Roth Capital to “Neutral”. The firm earned “Buy” rating on Monday, November 2 by TH Capital. The rating was maintained by Roth Capital with “Buy” on Monday, April 4. The rating was maintained by TH Capital on Thursday, July 30 with “Buy”.

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.
Geode Capital Management Ltd Company last reported 31,268 shares in the company. Spark Invest Management Ltd Co, a New York-based fund reported 35,000 shares. Globeflex Cap L P last reported 37,143 shares in the company. Timpani Capital Mgmt Ltd Limited Liability Company has 74,936 shares for 0.69% of their US portfolio. Moreover, Oxford Asset has 0.04% invested in Iradimed Corp (NASDAQ:IRMD) for 43,742 shares. Blackrock Fund has 0% invested in the company for 105,283 shares. Conestoga Limited Company accumulated 0.46% or 287,835 shares. The New York-based Amici Cap Ltd Liability Corporation has invested 0.06% in Iradimed Corp (NASDAQ:IRMD). National Bank & Trust Of New York Mellon reported 22,065 shares or 0% of all its holdings. Allianz Asset Ag accumulated 0% or 66,140 shares. Blackrock Invest Management Ltd holds 0% or 14,741 shares in its portfolio. Vanguard has 224,101 shares for 0% of their US portfolio. Ameriprise Fincl accumulated 59,830 shares or 0% of the stock. Navellier & Assoc Inc last reported 0.03% of its portfolio in the stock. Moreover, Mesirow Finance Investment Mngmt has 0.02% invested in Iradimed Corp (NASDAQ:IRMD) for 12,550 shares.

Insider Transactions: Since June 9, 2016, the stock had 0 insider purchases, and 4 sales for $564,366 net activity. $440,078 worth of Iradimed Corp (NASDAQ:IRMD) was sold by Waldman Louis S.. ALLEN MONTY K sold $45,500 worth of stock or 2,275 shares. $35,857 worth of Iradimed Corp (NASDAQ:IRMD) shares were sold by Nardi Steven M..

More notable recent Iradimed Corp (NASDAQ:IRMD) news were published by: Streetinsider.com which released: “Iradimed Corp. (IRMD) Tops Q3 EPS by 3c” on October 28, 2016, also Seekingalpha.com with their article: “iRadimed Corp. (IRMD) CEO Roger Susi on Q3 2016 Results – Earnings Call Transcript” published on October 29, 2016, Streetinsider.com published: “Form 10-K/A IRADIMED CORP For: Dec 31” on November 01, 2016. More interesting news about Iradimed Corp (NASDAQ:IRMD) were released by: Seekingalpha.com and their article: “IRadimed Corp. (IRMD) CEO Roger Susi on Q2 2016 Results – Earnings Call Transcript” published on July 31, 2016 as well as Seekingalpha.com‘s news article titled: “iRadimed Corporation – MRI Compatible IV Infusion Pump Quickly Becoming A …” with publication date: August 16, 2016.

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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