Iradimed (NASDAQ:IRMD) Releases FY 2024 Earnings Guidance

Iradimed (NASDAQ:IRMD) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.640-1.670 for the period, compared to the consensus earnings per share estimate of 1.560. The company issued revenue guidance of $72.7 million-$73.1 million, compared to the consensus revenue estimate of $72.6 million. Iradimed also updated its Q4 2024 guidance to 0.420-0.450 EPS.

Wall Street Analyst Weigh In

Separately, Roth Mkm lowered their target price on Iradimed from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, August 2nd.

Iradimed Trading Down 2.0 %

Shares of NASDAQ IRMD traded down $0.97 during midday trading on Friday, reaching $48.30. 32,944 shares of the stock were exchanged, compared to its average volume of 28,110. The stock has a 50 day moving average price of $48.98 and a 200-day moving average price of $45.56. The company has a market capitalization of $611.96 million, a P/E ratio of 33.08 and a beta of 0.79. Iradimed has a 52-week low of $39.24 and a 52-week high of $53.99.

Iradimed (NASDAQ:IRMD) last released its earnings results on Thursday, August 1st. The medical equipment provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.33 by $0.05. Iradimed had a net margin of 26.12% and a return on equity of 24.59%. The firm had revenue of $17.93 million during the quarter, compared to analysts’ expectations of $17.70 million. During the same period in the previous year, the company earned $0.33 EPS. On average, analysts forecast that Iradimed will post 1.47 earnings per share for the current year.

Iradimed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Friday, November 15th. Iradimed’s dividend payout ratio is currently 41.10%.

Iradimed Company Profile

IRADIMED CORPORATION develops, manufactures, markets, and distributes magnetic resonance imaging (MRI) compatible medical devices and related accessories, and disposables and services in the United States and internationally. It offers MRidium MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets; MRI compatible patient vital signs monitoring system; and 3600 FMD1 with RALU ferromagnetic detection device.