Iradimed (IRMD) AI Stock Analysis

• Market Cap: $1.30B
• Dividend Yield: 1.22%
• Average Volume (3M): 67.01K
• Price to Earnings (P/E): 55.1
• Beta (1Y): 0.74
• Revenue Growth: 12.91%
• EPS Growth: 13.24%
• Country: US
• Employees: 160
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): 0.54
• Shares Outstanding: 12,782,566
• 10 Day Avg. Volume: 70,324
• 30 Day Avg. Volume: 67,007
• PEG Ratio: 3.35
• Price to Book (P/B): 13.08
• Price to Sales (P/S): 14.77
• P/FCF Ratio: 72.03
• Enterprise Value/Market Cap: 0.96
• Enterprise Value/Revenue: 14.90
• Enterprise Value/Gross Profit: 19.41
• Enterprise Value/Ebitda: 43.16
• 1Y Price Target: $120.00
• Price Target Upside: 57.03% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): 2.12
• Revenue Forecast (FY): $91.10M

• Rating: 76 Outperform
• Price Target: $112.00 ▲(46.56% Upside)
• Action: Reiterated Date: 03/07/26
• Date: Action: Reiterated 03/07/26

IRMD scores well primarily on strong financial performance (high and improving profitability, near debt-free balance sheet, and positive free cash flow). The earnings call adds support with upbeat guidance tied to the 3870 pump and a targeted 2026 acceleration, though execution/transition and geographic concentration risks remain. Offsetting these positives are a demanding valuation (P/E ~55) and a mixed near-term technical picture with the stock below its 20/50-day averages.

Positive Factors

Sustained high profitability

Consistently high gross and operating margins and expanding net margins indicate durable pricing power and tight cost control in a niche MRI-compatible devices market. This margin profile supports sustained cash generation and reinvestment capacity, making core profitability resilient over 2–6 months.

Exceptionally conservative balance sheet

Near-zero debt and growing equity/assets provide strong financial flexibility to fund the 3870 ramp, absorb temporary margin pressure, pay dividends, or invest in international regulatory efforts without forcing dilutive financing, lowering long-term solvency risk.

Large, structural product opportunity (3870 launch)

The 3870 represents a structural growth driver: ASP uplift and a defined replacement TAM (~6,400 eligible U.S. channels) plus recurring disposables and service create durable revenue and margin expansion potential if clinical adoption and manufacturing scale proceed as planned.

Negative Factors

High U.S. revenue concentration

Heavy reliance on the U.S. market exposes results to domestic hospital purchasing cycles, reimbursement changes, or demand shifts. Delayed international regulatory approvals limit geographic diversification, leaving revenue and growth sensitive to U.S. execution over the next several quarters.

Operational transition and margin risk

The 3860→3870 transition creates execution risk: elevated inventory, constrained initial volumes and subscale production can depress margins and strain working capital. Successful scaling is required to realize ASP benefits; any ramp delays would have multi-quarter impact on profitability.

Cash-flow volatility and slowing growth

While FCF is positive, historical volatility and instances where operating cash lagged earnings reduce predictability of internal funding for growth. Coupled with a recent slowdown in revenue growth, this elevates execution risk for ambitious 2026 targets if cash conversion weakens again.

Iradimed Business Overview & Revenue Model

Company Description

IRADIMED CORPORATION develops, manufactures, markets, and distributes magnetic resonance imaging (MRI) compatible medical devices, and related accessories and services in the United States and internationally. It offers MRidium MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets; and MRI compatible patient vital signs monitoring system. The company also provides non-magnetic IV poles, wireless remote displays/controls, side car pump modules, dose error reduction systems, and SpO2 monitoring with sensors and accessories. It serves hospitals, acute care facilities, and outpatient imaging centers. The company sells its products through direct field sales representatives, regional sales directors, clinical support representatives, and independent distributors. IRADIMED CORPORATION was incorporated in 1992 and is headquartered in Winter Springs, Florida.

How the Company Makes Money

Iradimed generates revenue primarily through the sale of its MRI-compatible products, including infusion pumps and monitoring systems. The company has established a recurring revenue stream through the sale of disposables and accessories that are used in conjunction with its devices. Additionally, Iradimed benefits from strategic partnerships with healthcare providers and institutions, which facilitate the adoption of its technologies and expand its market reach. The company's revenue model is further supported by ongoing research and development efforts aimed at introducing new products and enhancing existing offerings, ultimately driving sales and market penetration.

Iradimed Financial Statement Overview

Summary

High-quality fundamentals: consistently strong profitability (gross margin ~74%–77%, EBIT margin ~29%–31%), net margins expanding to ~26%–27%, and an exceptionally conservative balance sheet with essentially no debt. Free cash flow is positive but less predictable than earnings, and the latest annual revenue growth slowed (~4.1%), which modestly tempers the otherwise strong profile.

Income Statement

Profitability is strong and consistent, with gross margins holding around ~74%–77% and net margins expanding from ~4% (2020) to ~26%–27% (2023–2025). Operating profitability is also solid (EBIT margin ~29%–31% in the last four annual periods), showing good cost discipline. Growth has been positive overall (revenue rising materially since 2020), but the latest annual revenue growth slowed to ~4.1% versus stronger growth rates in prior years, which is the main near-term soft spot.

Balance Sheet

The balance sheet is exceptionally conservative: debt is effectively negligible and reaches zero in the latest annual period, resulting in a very low debt burden relative to equity. Equity and assets have grown over time, supporting financial flexibility. Returns on equity are strong (roughly low-20% to mid-20% in recent annual periods), though they have shown some fluctuation year-to-year rather than a perfectly steady climb.

Cash Flow

Cash generation is healthy, with operating cash flow remaining solid and free cash flow positive across all periods shown. Free cash flow growth rebounded strongly in the latest annual period (~20.2%) after weakness earlier, and cash conversion is reasonable with free cash flow running at roughly ~69% of net income in the last two annual periods. The key weakness is volatility: operating cash flow did not consistently track earnings (notably weaker cash coverage in 2023), and free cash flow has seen down years, which slightly reduces confidence in predictability.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	83.81M	73.24M	65.56M	53.30M	41.81M
Gross Profit	64.32M	56.35M	50.16M	41.28M	32.05M
EBITDA	28.53M	22.78M	20.80M	16.30M	11.22M
Net Income	22.48M	19.23M	17.19M	12.83M	9.33M
Balance Sheet
Total Assets	108.78M	98.33M	92.16M	85.51M	82.88M
Cash, Cash Equivalents and Short-Term Investments	51.16M	52.23M	49.76M	57.96M	62.50M
Total Debt	0.00	154.69K	2.04M	2.21M	2.48M
Total Liabilities	14.16M	11.51M	20.74M	11.84M	10.71M
Stockholders Equity	94.62M	86.82M	71.42M	73.67M	72.17M
Cash Flow
Free Cash Flow	17.18M	17.62M	5.46M	8.17M	10.52M
Operating Cash Flow	24.95M	25.62M	13.47M	10.04M	11.26M
Investing Cash Flow	-8.42M	-8.82M	-8.01M	-1.37M	648.24K
Financing Cash Flow	-17.60M	-14.34M	-13.66M	-12.71M	24.43K

Iradimed Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 76.42
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IRMD, the sentiment is Positive. The current price of 76.42 is below the 20-day moving average (MA) of 101.25, below the 50-day MA of 100.05, and below the 200-day MA of 79.84, indicating a bullish trend. The MACD of 0.19 indicates Positive momentum. The RSI at 52.94 is Neutral, neither overbought nor oversold. The STOCH value of 39.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IRMD.

Iradimed Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IRMD	76 Outperform	$1.30B	55.05	23.83%	1.22%	12.91%	13.24%
BVS	65 Neutral	$737.58M	21.81	4.97%	―	1.58%	―
AXGN	56 Neutral	$1.70B	-95.98	-13.44%	―	18.72%	85.77%
SIBN	56 Neutral	$568.41M	-45.38	-12.91%	―	23.27%	43.90%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
OFIX	50 Neutral	$476.51M	-6.56	-20.38%	―	4.31%	3.26%
IART	47 Neutral	$702.21M	-1.85	-39.90%	―	4.99%	-7151.40%

Iradimed Corporate Events

Iradimed Declares Special Cash Dividend for Shareholders

On December 5, 2025, IRADIMED CORPORATION’s Board of Directors declared a special cash dividend of $0.50 per share, payable on December 30, 2025, to shareholders of record as of December 17, 2025. This decision reflects the company’s strong financial performance, including 17 consecutive quarters of record revenue, and its cash balance of $56.5 million, which exceeds operational needs. The dividend complements the company’s regular quarterly dividend program and highlights its commitment to maximizing shareholder returns.

The most recent analyst rating on (IRMD) stock is a Buy with a $98.00 price target. To see the full list of analyst forecasts on Iradimed stock, see the IRMD Stock Forecast page.