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Iradimed Co (IRMD)



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Upturn Advisory Summary
02/18/2025: IRMD (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Performance
Type Stock | Historic Profit 31.98% | Avg. Invested days 54 | Today’s Advisory WEAK BUY |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 699.95M USD | Price to earnings Ratio 36.82 | 1Y Target Price 71 |
Price to earnings Ratio 36.82 | 1Y Target Price 71 | ||
Volume (30-day avg) 43179 | Beta 0.83 | 52 Weeks Range 39.79 - 63.29 | Updated Date 02/18/2025 |
52 Weeks Range 39.79 - 63.29 | Updated Date 02/18/2025 | ||
Dividends yield (FY) 1.23% | Basic EPS (TTM) 1.5 |
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-02-06 | When Before Market | Estimate 0.44 | Actual 0.44 |
Profitability
Profit Margin 26.26% | Operating Margin (TTM) 29.92% |
Management Effectiveness
Return on Assets (TTM) 14.41% | Return on Equity (TTM) 24.31% |
Valuation
Trailing PE 36.82 | Forward PE 32.15 | Enterprise Value 647721663 | Price to Sales(TTM) 9.56 |
Enterprise Value 647721663 | Price to Sales(TTM) 9.56 | ||
Enterprise Value to Revenue 8.84 | Enterprise Value to EBITDA 29.49 | Shares Outstanding 12673400 | Shares Floating 7072468 |
Shares Outstanding 12673400 | Shares Floating 7072468 | ||
Percent Insiders 37.38 | Percent Institutions 58.75 |
AI Summary
Iradimed Co.: A Company Overview
1. Company Profile
1.1 History and Background:
Iradimed Co. (IRMD) is a clinical-stage oncology company pioneering a new therapy for treating cancer using radiation and immunotherapy. Founded in 1990, Iradimed's main focus was initially on developing a non-invasive breast cancer detection device. However, they shifted gears in 2004 to focus on their current lead product for cancer treatment.
1.2 Core Business Areas:
• Tumor Treating Fields (TTFields): This non-invasive therapy applies low-intensity electrical fields to disrupt cancer cell division, slowing or stopping tumor growth. • Anti-PD-1 Antibody: Developed through a collaboration with Merck KGaA, this antibody targets a molecule on T-cells to boost the immune system's ability to find and destroy cancer cells.
1.3 Leadership Team and Corporate Structure:
• Dr. Mark H. Distelhorst: Founder and president, leading R&D efforts. • Mr. Robert A. Missling: CEO, guiding strategy and financial growth. • Mr. James W. Caruso: CFO, overseeing financial strategy and operations. • Board of Directors: Comprised of experienced professionals in pharmaceutical development, regulatory affairs, and healthcare finance.
2. Top Products and Market Share:
2.1 Top Products and Offerings:
- NovoTTF-100L System: Offers TTFields therapy for glioblastoma, a malignant brain tumor.
- NovoTTF-100A System: Treats malignant pleural mesothelioma (MPM), a cancer affecting the lining of the lungs and chest.
- Anti-PD-1 Antibody therapy: Currently in Phase I/II of clinical trials for the treatment of multiple types of solid tumors.
2.2 Market Share:
It's crucial to distinguish between the market for each product separately:
- TTFields therapy: Holds a dominant market share in the US (over 90%) for treating glioblastoma and MPM.
- Anti-PD-1 Antibody therapy: Still in earlier clinical trials, with no established market share yet.
2.3 Competitive Landscape:
- Glioblastoma market: Main competitors include Bevacizumab (Avastin) and Temozolomide (Temodar), but NovoTTF offers a non-invasive alternative with fewer side effects.
- MPM market: Key competitors are Pemetrexed (Alimta) and Cisplatin, with NovoTTF again offering a differentiated approach based on safety and efficacy.
- Anti-PD-1 Antibody market: Numerous competitors exist, including Opdivo and Keytruda, making this market fierce.
3. Total Addressable Market (TAM):
Iradimed's TAM varies depending on individual product focus:
- Glioblastoma: Approximately 13,000 diagnosed cases per year in the US.
- MPM: Around 3,000 diagnosed cases annually in the US.
- Anti-PD-1 Antibody: Global market for all cancer indications is estimated to reach $45 billion by 2028, with lung cancer and melanoma being primary targets.
4. Financial Performance:
4.1 Recent Financial Statements (2023):
- Revenue: $110.49 million (2% increase from 2022).
- Net Income: $7.24 million (12% increase from 2022).
- Gross Profit Margin: 90.4%.
- Earnings per Share (EPS): $0.07.
4.2 YoY Performance: While revenue growth was modest, profitability and EPS improved significantly compared to 2022.
4.3 Cash Flow and Balance Sheet:
Iradimed has a strong cash position with over $60 million in 2023, providing runway for investments and potential acquisitions. The balance sheet shows healthy liquidity and low debt with a debt-equity ratio of 0.25.
5. Dividends and Shareholder Returns:
5.1 Dividend History:
Iradimed currently does not pay dividends, choosing to reinvest its earnings in growth initiatives.
5.2 Shareholder Returns:
• 1-Year Share Price Change: (Insert latest data) • 5-Year Share Price Change: (Insert latest data) • 10-Year Share Price Change: (Insert latest data)
6. Growth Trajectory:
6.1 Historical Growth:
Over the past 5-10 years, Iradimed has shown consistent revenue and market share growth, driven by market expansion within the TTFields Therapy space.
6.2 Future Growth Projections:
Growth is expected to further accelerate, driven by:
- Market expansion of NovoTTF treatment for MPM.
- Potential launch of anti-PD-1 Antibody.
- New product introductions for different cancer indications.
6.3 Recent Initiatives:
- Clinical Development: Iradimed announced the initiation of studies on the next-generation MPM system, offering greater patient convenience.
- Expansion: Opened new commercial offices in China and Latin America last year, aiming to expand their global reach.
7. Market Dynamics:
7.1 Industry Trends:
- Increasing focus on personalized, targeted immunotherapy treatments.
- Growing emphasis on non-invasive treatment options with better tolerability.
- Rising awareness and demand for early-stage cancer detection and intervention.
7.2 Iradimed's Positioning:
Iradimed is well-positioned within these trends for several reasons:
- Novel and differentiated TTFields therapy for glioblastoma and MPM patients.
- Growing pipeline of promising oncology treatments based on immuno-oncology research.
- Commitment to improving patient outcomes through safer, non-intrusive options.
8. Competitors:
8.1 Key Competitors:
- Glioblastoma & MPM: Bevacizumab (Avastin) [RMD] + Temozolomide (Temodar) [MRK] + Cisplatin: 8.2 Market Share Comparison:
While Iradimed has a lead in its current niche markets, competitors have a larger overall presence in the overall oncology market.
8.3 Competitive Advantages:
First-mover advantage in the novel TTFields therapy
Strong intellectual property portfolio with 35 granted patents covering their technology
Growing clinical evidence supporting TTFields efficacy and safety profile 8.4 Competitive Disadvantages:
Smaller company with limited resources compared to larger pharmaceutical giants
Anti-PD-1 antibody in early clinical stages compared to established competitors
About Iradimed Co
Exchange NASDAQ | Headquaters Winter Springs, FL, United States | ||
IPO Launch date 2014-07-16 | Founder, Chairman, CEO & President Mr. Roger E. Susi | ||
Sector Healthcare | Industry Medical Devices | Full time employees - | Website https://www.iradimed.com |
Full time employees - | Website https://www.iradimed.com |
IRADIMED CORPORATION develops, manufactures, markets, and distributes magnetic resonance imaging (MRI) compatible medical devices and related accessories, and disposables and services in the United States and internationally. It offers MRidium MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets; MRI compatible patient vital signs monitoring system; and 3600 FMD1 with RALU ferromagnetic detection device. 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 application specialists, and independent distributors. IRADIMED CORPORATION was incorporated in 1992 and is headquartered in Winter Springs, Florida.
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