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Iradimed Corp (IRMD)
NASDAQ:IRMD
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Iradimed
(NASDAQ:IRMD)
76Outperform
Iradimed (IRMD) vs. S&P 500 (SPY)
Market Cap
$666.40M
Dividend Yield1.18%
Average Volume (3M)36.40K
Price to Earnings (P/E)34.8
Beta (1Y)0.78
Revenue Growth11.71%
EPS Growth11.28%
CountryUS
Employees160
SectorHealthcare
Sector Strength72
IndustryMedical - Devices
Share Statistics
EPS (TTM)1.50
Shares Outstanding12,715,072
10 Day Avg. Volume34,498
30 Day Avg. Volume36,399
Financial Highlights & Ratios
PEG Ratio3.09
Price to Book (P/B)N/A
Price to Sales (P/S)9.08
Price to Cash Flow (P/CF)27.80
P/FCF Ratio27.80
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$71.00Price Target Upside35.29% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
Iradimed Business Overview & Revenue Model
Company DescriptionIRadimed Corporation (IRMD) is a leading provider in the medical technology industry, specializing in the development, manufacture, and distribution of innovative MRI-compatible medical devices. The company focuses on delivering high-quality and reliable products that ensure patient safety and enhance the efficiency of healthcare providers. Its core product offerings include non-magnetic intravenous (IV) infusion pumps and patient monitoring systems designed for use in magnetic resonance imaging (MRI) environments, addressing the unique challenges and requirements of MRI procedures.
How the Company Makes MoneyIRadimed generates revenue primarily through the sale of its MRI-compatible medical devices. The company's key revenue streams include the direct sales of its non-magnetic IV infusion pumps and patient monitoring systems to hospitals and healthcare providers. Additionally, IRadimed earns revenue from service contracts and the sale of disposable and accessory components that accompany its main products, ensuring ongoing customer engagement and repeat sales. The company's earnings are further supported by its strategic partnerships with healthcare facilities and its commitment to research and development, which drive product innovation and market expansion.
Iradimed Financial Statement Overview
Summary
Iradimed exhibits strong financial health across all key financial statements. The company demonstrates high revenue and profit growth, robust margins, and a stable balance sheet with minimal debt. Cash flows are healthy with strong free cash generation, providing flexibility for future growth. Overall, Iradimed is financially robust with low risk and high growth potential in the medical equipment and supplies industry.Income Statement
Iradimed has demonstrated strong financial performance with a consistent upward trajectory in revenue and profitability. The gross profit margin is robust, reflecting effective cost management. Net profit margin and EBIT margin are also healthy, indicating strong operational efficiency. Revenue growth has been impressive over the years, showcasing the company's ability to expand its market presence effectively.92
Very Positive
Balance Sheet
The balance sheet is strong with a very low debt-to-equity ratio, indicating minimal reliance on debt financing and a stable equity base. The equity ratio is high, reflecting a solid asset base funded by equity. Return on equity is impressive, showcasing effective utilization of shareholders' funds to generate profits. Overall, the balance sheet is stable with low financial risk.88
Very Positive
Cash Flow
Cash flow analysis reveals strong operational cash generation with a healthy free cash flow position. The operating cash flow to net income ratio is favorable, indicating efficient cash conversion. Free cash flow growth is robust, supporting potential reinvestment or shareholder returns. The company maintains a solid cash position, enhancing financial flexibility.85
Very Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 73.24M | 65.56M | 53.30M | 41.81M | 31.72M | Gross Profit |
| 56.35M | 50.16M | 41.28M | 32.05M | 23.57M | EBIT |
| 21.96M | 20.04M | 15.63M | 9.82M | -756.09K | EBITDA |
| 21.96M | 20.80M | 16.30M | 11.22M | 582.73K | Net Income Common Stockholders |
| 19.23M | 17.19M | 12.83M | 9.33M | 1.37M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 52.23M | 49.76M | 57.96M | 62.50M | 51.98M | Total Assets |
| 98.33M | 92.16M | 85.51M | 82.88M | 71.07M | Total Debt |
| 154.69K | 2.04M | 2.21M | 2.48M | 2.72M | Net Debt |
| -52.08M | -47.72M | -55.76M | -59.52M | -47.35M | Total Liabilities |
| 11.51M | 20.74M | 11.84M | 10.71M | 9.68M | Stockholders Equity |
| 86.82M | 71.42M | 73.67M | 72.17M | 61.38M |
| Cash Flow | Free Cash Flow | |||
| 17.62M | 5.46M | 8.17M | 10.52M | 5.18M | Operating Cash Flow |
| 25.62M | 13.47M | 10.04M | 11.26M | 5.82M | Investing Cash Flow |
| -8.82M | -8.01M | -1.37M | 648.24K | 246.97K | Financing Cash Flow |
| -14.34M | -13.66M | -12.71M | 24.43K | 522.48K |
Iradimed Technical Analysis
Negative
52.48
Price Trends
55.94
Negative
55.16
Negative
50.81
Positive
Market Momentum
-0.72
Negative
42.81
Neutral
58.40
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IRMD, the sentiment is Negative. The current price of 52.48 is below the 20-day moving average (MA) of 52.53, below the 50-day MA of 55.94, and above the 200-day MA of 50.81, indicating a neutral trend. The MACD of -0.72 indicates Negative momentum. The RSI at 42.81 is Neutral, neither overbought nor oversold. The STOCH value of 58.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IRMD.
Iradimed Risk Analysis
Iradimed disclosed 36 risk factors in its most recent earnings report. Iradimed reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Iradimed Peers Comparison
Overall Rating
UnderperformOutperform
Sector (48)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $139.13B | 46.96 | 15.26% | 0.89% | 10.23% | -5.74% | |
76 Outperform | $666.40M | 34.83 | 24.31% | 1.18% | 11.71% | 11.28% | |
73 Outperform | $22.35B | 25.33 | 7.24% | 0.85% | 3.84% | -9.29% | |
67 Neutral | $13.76B | 19.54 | 15.78% | ― | 1.75% | 50.25% | |
54 Neutral | $17.31B | 136.07 | -9.24% | 2.73% | -14.00% | -184.82% | |
49 Neutral | $6.82B | ― | -24.09% | ― | -3.92% | -202.80% | |
48 Neutral | $6.84B | 1.02 | -53.11% | 2.50% | 16.84% | 0.92% |
* Healthcare Sector Average
Performance Comparison
IRMD
Iradimed
52.48
10.12
23.89%
BAX
Baxter International
34.23
-8.19
-19.31%
BIO
Bio-Rad Laboratories
243.56
-95.42
-28.15%
HOLX
Hologic
61.77
-14.35
-18.85%
SYK
Stryker
372.25
20.83
5.93%
ZBH
Zimmer Biomet Holdings
113.18
-15.43
-12.00%
Iradimed Earnings Call Summary
Earnings Call Date: Feb 13, 2025 | % Change Since: -12.97% | Next Earnings Date: May 1, 2025
Earnings Call Sentiment Positive
The earnings call presented a positive outlook with record-breaking revenue and growth, strong domestic sales, and increased earnings per share, despite challenges in international sales, a slight decline in gross margin, and impacts from capital expenditures.Highlights
Record-Breaking Revenue and Growth
IRADIMED CORPORATION reported its 14th consecutive record quarter with revenue exceeding $19.4 million, an increase of 11% compared to Q4 2023. Annual revenue for fiscal year 2024 increased by 12% to $73.2 million, driven by strong demand for IV pumps.
Strong Domestic Sales Performance
Domestic sales saw a significant increase of 21% to $16.5 million, accounting for approximately 85% of total revenue for Q4 2024, compared to 78% in the previous year.
Increased Earnings Per Share
GAAP diluted earnings per share increased by 11% from Q4 2023, and non-GAAP adjusted net income per diluted share increased by 12% year-over-year.
Successful Cost Management
Cash from operations increased to $6 million for Q4 2024, up from $3.9 million in the previous year, due to efficient working capital management.
Lowlights
International Sales Decline
International sales decreased by 24% to $2.9 million, indicating challenges in global markets compared to domestic performance.
Slight Decline in Gross Margin
Gross margin for Q4 2024 was 76.1%, slightly below 76.9% from the same quarter in 2023, attributed to increased overhead spending.
Construction and Capital Expenditure Impact
Free cash flow decreased to $2.9 million from $3.3 million due to ongoing capital expenditures for a new facility, with an additional $5.5 million expected to complete the project.
Company Guidance
During the IRADIMED CORPORATION Fourth Quarter 2024 Financial Results Conference Call, guidance was provided for the upcoming fiscal quarters. For Q1 2025, the company anticipates revenue between $19.2 million and $19.4 million, with GAAP diluted earnings per share ranging from $0.35 to $0.39, and non-GAAP diluted earnings per share expected to be between $0.39 and $0.43. For the full year 2025, IRADIMED projects revenue to fall between $78 million and $82 million, with GAAP diluted earnings per share of $1.55 to $1.65 and non-GAAP diluted earnings per share of $1.71 to $1.81. The company is also preparing for the launch of its new 3870 MR IV pump, expected to receive FDA clearance by mid-2025, with significant revenue from this device projected for 2026. Additionally, they are managing the construction of a new facility, expected to be completed by June 2025, which will aid in supporting future growth.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.