On Jun 17, Zacks Investment Research raised IRadimed Corp. (IRMD - Free Report) to a Zacks Rank #1 (Strong Buy).
Why this upgrade?
The upgrade was driven by impressive first-quarter 2016 results. Adjusted earnings of 9 cents outpaced the Zacks Consensus Estimate by a penny (5.56%). Notably, the company has outperformed the Zacks Consensus Estimate in the last four quarters, with an average beat of 7.64%.
Revenues surged 28.2% from the year-ago quarter to $9 million and was in line with the Zacks Consensus Estimate. The growth was driven by strong demand for IV pumps. The company sold 263 IV pumps as compared to 217 pumps in the year-ago quarter.
Key Growth Factors
We believe that sales force expansion and increasing production output will drive results in the rest of 2016. Additionally, the anticipated launch of the patient monitoring system (third quarter-international; fourth quarter-the U.S.) is a key catalyst.
Based on these bullish factors, IRadimed raised its full-year 2016 earnings guidance. The company now forecasts adjusted earnings in the range of 88 cents to 90 cents, up from the earlier guided range of 83–85 cents. Revenues forecast remained unchanged at $39–$40 million.
Estimate Revision
The Zacks Consensus Estimate for the second quarter is currently pegged at 21 cents, up a penny over the last 60 days.
Over the same time frame, the Zacks Consensus Estimate for full-year 2016 moved up by a nickel to 88 cents per share.
Other Stocks to Consider
One may also consider other favorably ranked stocks like Cryolife Inc , Masimo Corporation (MASI - Free Report) and Mesa Labs Inc (MLAB - Free Report) in the same space. All the three stocks sport a Zacks Rank #1.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
On Jun 17, Zacks Investment Research raised IRadimed Corp. (IRMD - Free Report) to a Zacks Rank #1 (Strong Buy).
Why this upgrade?
The upgrade was driven by impressive first-quarter 2016 results. Adjusted earnings of 9 cents outpaced the Zacks Consensus Estimate by a penny (5.56%). Notably, the company has outperformed the Zacks Consensus Estimate in the last four quarters, with an average beat of 7.64%.
Revenues surged 28.2% from the year-ago quarter to $9 million and was in line with the Zacks Consensus Estimate. The growth was driven by strong demand for IV pumps. The company sold 263 IV pumps as compared to 217 pumps in the year-ago quarter.
Key Growth Factors
We believe that sales force expansion and increasing production output will drive results in the rest of 2016. Additionally, the anticipated launch of the patient monitoring system (third quarter-international; fourth quarter-the U.S.) is a key catalyst.
Based on these bullish factors, IRadimed raised its full-year 2016 earnings guidance. The company now forecasts adjusted earnings in the range of 88 cents to 90 cents, up from the earlier guided range of 83–85 cents. Revenues forecast remained unchanged at $39–$40 million.
Estimate Revision
The Zacks Consensus Estimate for the second quarter is currently pegged at 21 cents, up a penny over the last 60 days.
Over the same time frame, the Zacks Consensus Estimate for full-year 2016 moved up by a nickel to 88 cents per share.
Other Stocks to Consider
One may also consider other favorably ranked stocks like Cryolife Inc , Masimo Corporation (MASI - Free Report) and Mesa Labs Inc (MLAB - Free Report) in the same space. All the three stocks sport a Zacks Rank #1.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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