iRadimed price target raised to $72 from $60 at Roth MKM

Roth MKM raised the firm’s price target on iRadimed (IRMD) to $72 from $60 and keeps a Buy rating on the shares. The company reported solid Q4 revenue of $19.4M, representing an 11% y/y increase while beating the firm’s estimate and consensus of $19.1M as well as previously issued guidance of $19.2M-$19.4M for FY24, the analyst tells investors in a research note. Monitoring system bookings also improved in Q4, signaling early traction from iRadimed’s renewed salesforce focus on this product category, the firm adds.