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iRadimed (IRMD) Stock Jumps 11.3%: Will It Continue to Soar?
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iRadimed (IRMD - Free Report) shares rallied 11.3% in the last trading session to close at $37.21. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 13.7% gain over the past four weeks.
iRadimed recorded a price surge before its second-quarter 2021 earnings release with the latest Zacks Consensus Estimate showing significant improvement compared to the year-ago reported number. The Zacks Consensus Estimate for the second-quarter earnings is pegged at 15 cents per share, reflecting a projected surge of 200% year over year. The metric for the second quarter revenues is currently pegged at $9.6 million, indicating an improvement of 40.9% from the year-ago reported figure. The company will be releasing its second-quarter earnings on Jul 30, 2021.
This maker of IV devices that can be used in MRI machines is expected to post quarterly earnings of $0.15 per share in its upcoming report, which represents a year-over-year change of +200%. Revenues are expected to be $9.58 million, up 40.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For iRadimed, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on IRMD going forward to see if this recent jump can turn into more strength down the road.
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iRadimed (IRMD) Stock Jumps 11.3%: Will It Continue to Soar?
iRadimed (IRMD - Free Report) shares rallied 11.3% in the last trading session to close at $37.21. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 13.7% gain over the past four weeks.
iRadimed recorded a price surge before its second-quarter 2021 earnings release with the latest Zacks Consensus Estimate showing significant improvement compared to the year-ago reported number. The Zacks Consensus Estimate for the second-quarter earnings is pegged at 15 cents per share, reflecting a projected surge of 200% year over year. The metric for the second quarter revenues is currently pegged at $9.6 million, indicating an improvement of 40.9% from the year-ago reported figure. The company will be releasing its second-quarter earnings on Jul 30, 2021.
This maker of IV devices that can be used in MRI machines is expected to post quarterly earnings of $0.15 per share in its upcoming report, which represents a year-over-year change of +200%. Revenues are expected to be $9.58 million, up 40.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For iRadimed, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on IRMD going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>