On Jan 21, 2015, Zacks Investment Research raised MRI compatible IV infusion pump systems provider IRadimed Corp. (IRMD) to a Zacks Rank #1 (Strong Buy). We believe that a positive 2015 outlook primarily drove the upgrade.
Why the Upgrade?
IRadimed is the sole provider of non-magnetic intravenous (IV) infusion pump systems that are used during magnetic resonance imaging (MRI) procedures. At the end of the third quarter of 2014 (Sep 30), the company had approximately 2,175 systems installed globally.
IRadimed’s fiscal 2015 guidance is quite impressive. The company expects to report revenues in the range of $28–$29 million, which is significantly better than an estimated $15.6 million in fiscal 2014.
For the fourth quarter of 2014, IRadimed expects to report revenues of $3.5 million, which is higher than its earlier guidance of $3 million. In the nine months ended Sep 30, the company reported revenues of $12.1 million, which soared 53.1% on a year-over-year basis.
Non-GAAP fiscal 2015 EPS is forecasted in the range of 50 cents to 52 cents, which is significantly higher than the current Zacks Consensus Estimate.
The Zacks Consensus Estimate for fiscal 2014 is currently pegged at 18 cents per share, which has increased 12.5% (2 cents) over the last 30 days. Over the same time frame, the 2015 Zacks Consensus Estimate has been revised up by 30 cents to stand at the present 43 cents per share. We believe that the revised estimates reflect significant top-line growth backed by an increase in the installed base.
Other Stocks to Consider
One may also consider favorably-ranked stocks like Inogen (INGN), Synergetics USA (SURG) and Vascular Solutions (VASC), all of which carry the same Zacks Rank as IRadimed.
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