IRadimed Corporation
- Open
- 96.52
- Day high
- 98.97
- Day low
- 94.80
- Prev close
- 95.56
- Volume
- 85K
- Mkt cap
- $1.3B
- P/E (TTM)
- 53.2
- EPS (TTM)
- $1.86
- P/B
- 12.8
- P/S
- 14.7
- Yield
- 1.25%
- Per share
- $1.24
- ▼Insiders net selling -$5.9M over the last 3 months (0 open-market buys, 51 sales)
- 🏛Institutions accumulating (13F)
IRadimed Corporation (IRMD) is a Healthcare company listed on NASDAQ. The stock is up 58% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 51 sales (SEC Form 4).
IRadimed Corporation (IRMD) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
IRMD earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 1, 2026 | $0.45 | $0.49 | +10.1% | $22M | +3.1% |
| Aug 1, 2025 | $0.45 | $0.49 | +8.9% | $20M | -0.4% |
| Feb 13, 2025 | $0.45 | $0.44 | -2.2% | $19M | +1.0% |
| Oct 31, 2024 | $0.39 | $0.43 | +10.3% | $18M | -3.2% |
| Aug 1, 2024 | $0.37 | $0.42 | +13.5% | $18M | +1.6% |
| May 2, 2024 | $0.34 | $0.36 | +5.9% | $18M | +2.7% |
| Feb 8, 2024 | $0.40 | $0.39 | -2.5% | $17M | +0.7% |
| Nov 3, 2023 | $0.36 | $0.43 | +19.4% | $17M | +2.1% |
| Aug 3, 2023 | $0.31 | $0.36 | +16.1% | $16M | +3.1% |
| May 4, 2023 | $0.28 | $0.30 | +7.1% | $15M | +4.8% |
| Feb 2, 2023 | $0.30 | $0.32 | +6.7% | $15M | -0.2% |
| Nov 3, 2022 | $0.25 | $0.29 | +16.0% | $13M | +1.7% |
IRMD insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 23, 2026 | GLENN JOHNofficer: CFO | Option | 5,796 | — |
| Jun 23, 2026 | GLENN JOHNofficer: CFO | Tax | 2,319 | $92.20 |
| Jun 4, 2026 | Scharen-Guivel Hilda Frederiquedirector | Sell | 1,234 | $95.00 |
| Jun 4, 2026 | Scharen-Guivel Hilda Frederiquedirector | Sell | 1,766 | $95.00 |
| Jun 2, 2026 | Susi Roger E.director, 10 percent owner, officer: CEO, President, Chairman | Sell | 401 | $91.08 |
| Jun 2, 2026 | Susi Roger E.director, 10 percent owner, officer: CEO, President, Chairman | Sell | 924 | $91.91 |
| Jun 2, 2026 | Susi Roger E.director, 10 percent owner, officer: CEO, President, Chairman | Sell | 775 | $89.79 |
| Jun 2, 2026 | Susi Roger E.director, 10 percent owner, officer: CEO, President, Chairman | Sell | 400 | $88.68 |
| May 28, 2026 | Susi Roger E.director, 10 percent owner, officer: CEO, President, Chairman | Sell | 1,889 | $92.93 |
| May 28, 2026 | Susi Roger E.director, 10 percent owner, officer: CEO, President, Chairman | Sell | 333 | $92.61 |
| May 28, 2026 | Susi Roger E.director, 10 percent owner, officer: CEO, President, Chairman | Sell | 2,167 | $91.85 |
| May 28, 2026 | Susi Roger E.director, 10 percent owner, officer: CEO, President, Chairman | Sell | 3,111 | $91.81 |
| May 20, 2026 | Susi Roger E.director, 10 percent owner, officer: CEO, President, Chairman | Sell | 298 | $85.95 |
| May 20, 2026 | Susi Roger E.director, 10 percent owner, officer: CEO, President, Chairman | Sell | 6 | $88.65 |
| May 20, 2026 | Susi Roger E.director, 10 percent owner, officer: CEO, President, Chairman | Sell | 653 | $87.13 |
Source: IRMD SEC Form 4 filings, latest Jun 23, 2026. For informational purposes only — not investment advice.
See the full IRMD insider & 13F page →IRadimed Corporation company profile
Overview
IRadimed Corporation (NYSE:IRMD) is a specialized medical device manufacturer founded in 1992 and headquartered in Winter Springs, Florida. The company went public in July 2014 and has established itself as a leading provider of magnetic resonance imaging (MRI) compatible medical devices. IRadimed operates in the niche but critical market of developing equipment that can safely function within the powerful magnetic fields of MRI machines, serving hospitals, acute care facilities, and outpatient imaging centers across the United States and internationally.
Business
IRadimed operates in the medical device industry, specifically focusing on MRI-compatible medical equipment. The company's core business revolves around solving a fundamental challenge in modern healthcare: how to safely monitor and treat patients during MRI procedures without interfering with the magnetic imaging process. The company's primary products include the MRidium MRI Compatible IV Infusion Pump System, which allows healthcare providers to deliver intravenous medications and fluids to patients while they undergo MRI scans. Traditional IV pumps contain ferromagnetic materials that would be dangerous projectiles in MRI environments, making IRadimed's non-magnetic alternatives essential for patient safety. The system includes associated disposable IV tubing sets that generate recurring revenue. IRadimed also manufactures MRI Compatible Patient Vital Signs Monitoring Systems that track heart rate, blood pressure, oxygen saturation, and other critical metrics during MRI procedures. These monitors use specialized sensors and wireless technology to function safely within MRI suites. Additionally, the company produces Ferromagnetic Detection (FMD) systems that screen patients and equipment for dangerous metal objects before entering MRI areas. The company's revenue streams can be broken down into approximately 70% device sales (pumps, monitors, and FMD systems) and 30% recurring revenue from disposables, services, and maintenance contracts. Domestic sales represent roughly 85% of total revenue, with international markets contributing the remaining 15%.
Revenue model
IRadimed generates revenue through multiple complementary business models. The primary revenue source comes from direct product sales of capital equipment including IV infusion pumps, patient monitoring systems, and ferromagnetic detection devices. These systems typically sell for $15,000-$28,000 per unit and represent the bulk of the company's revenue. The company also operates a recurring revenue model through disposable products, particularly IV tubing sets that must be replaced for each patient procedure. This creates a steady stream of follow-on sales from the installed base of pumps. Service contracts and maintenance agreements provide additional recurring income, though at a smaller scale. IRadimed's customers are primarily hospitals, acute care facilities, and outpatient imaging centers that operate MRI equipment. The purchasing decisions are typically made by hospital administrators, radiology departments, and clinical engineering teams who prioritize patient safety and regulatory compliance. Several factors influence the company's margins and profitability. Positive margin drivers include the specialized nature of MRI-compatible equipment, which commands premium pricing due to limited competition and high switching costs. The growing adoption of MRI procedures globally expands the addressable market. Negative margin pressures come from component cost inflation, supply chain disruptions, and the significant R&D investments required for FDA regulatory compliance. Healthcare budget constraints and competitive pricing pressure from hospital group purchasing organizations also impact margins. The company's gross margins have remained relatively stable around 76-77%, indicating strong pricing power in this specialized market.
Competitive moat
IRadimed possesses a moderate to strong competitive moat built primarily on regulatory barriers and specialized expertise. The company's primary defensive advantage stems from the complex FDA approval process required for MRI-compatible medical devices. Developing products that can safely operate in powerful magnetic fields while meeting stringent medical device regulations creates significant barriers to entry, as evidenced by the company's multi-year development cycle for new products. The company benefits from high customer switching costs, as hospitals invest considerable time and resources in training staff on specific MRI-compatible systems. Once installed, these systems become integrated into clinical workflows, making replacement decisions infrequent and deliberate. IRadimed's established relationships with hospital purchasing departments and clinical engineering teams provide additional stickiness. However, the moat faces several vulnerabilities. The limited market size of MRI-compatible devices attracts attention from larger medical device companies with greater resources. Companies like Philips have competed in the patient monitoring space, though they have recently reduced their focus. The specialized nature of the market also means that technological disruption from alternative MRI techniques or wireless monitoring solutions could potentially bypass IRadimed's current product advantages. The company's modest scale compared to major medical device manufacturers limits its ability to invest in R&D and compete on price. While specialization provides pricing power, it also creates concentration risk if MRI technology evolves in ways that reduce demand for current product categories. Overall, IRadimed's moat appears sustainable in the medium term but requires continued innovation to maintain its competitive position.
Risks & safety
IRadimed demonstrates a strong margin of safety with excellent financial health and conservative capital structure. • Cash position: $50.3 million in cash and short-term investments with minimal debt (debt-to-equity ratio of 0.0007) • Liquidity: Current ratio of 8.9x and quick ratio of 7.6x indicate exceptional short-term financial flexibility • Profitability: Consistent positive cash flow generation with $4.3 million in operating cash flow and $0.6 million in free cash flow for Q1 2025 • Valuation metrics: Trading at 35.6x P/E ratio and 28.4x EV/EBITDA, indicating premium valuation but supported by consistent growth • Balance sheet strength: Total assets of $101.7 million against total liabilities of only $11.7 million • Growth trajectory: 15 consecutive quarters of revenue growth with 11% year-over-year increase in Q1 2025 • Other considerations: Minimal capital expenditure requirements and strong gross margins around 76% provide operational flexibility
Recent development
Over the past few years, IRadimed has pursued several key strategic initiatives focused on product innovation and operational expansion. The company's most significant development effort centers on the 3870 MR IV Pump, a next-generation infusion system that has been in development since 2022. After initially withdrawing the FDA 510(k) submission, the company refiled in September 2024 and expects FDA clearance by mid-2025, with initial revenue anticipated in Q4 2025 and full market impact in 2026-2027. The company has also expanded its product portfolio with the successful launch of Ferromagnetic Detection (FMD) systems, which experienced three-fold growth in 2023. This product addresses the critical safety need for screening patients and equipment before MRI procedures, representing a new revenue stream in the $15-18 million addressable market. IRadimed is making substantial investments in manufacturing capacity and infrastructure, constructing a new 61,000 square foot facility in Orlando, Florida, with an estimated $13 million investment. The facility is expected to be operational by mid-2025 and will significantly expand the company's production capabilities. On the commercial side, the company has restructured its sales approach to place greater emphasis on patient monitoring systems, adjusting sales team incentives and planning to expand sales territories from 28 to 35. This strategic shift aims to capture more market share in the monitoring business, where the company estimates it currently holds 30-35% market share with significant room for growth among the approximately 10,000 legacy monitoring units in the market.
IRMD company profile · for informational purposes only — not investment advice.
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