Iradimed
IRMD on Nasdaq. IRADIMED sells MRI-compatible IV infusion pumps and disposables to hospitals and MRI clinics. Market value $1.1bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Good business, but not cheap right now
Why it could be worth it
What to watch out for
See cheaper Health care stocks on the list
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $2.27 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 80 of 100. Price score: 40 of 100. Our list needs 70 on quality and 60 on price.
$86.47 a share, 22% above its 1-year low
Over the past year the price has ranged from $70.80 to $107.90.
Dividend: 1.4% a year
Paid every year for 4 years
Prices from Monday’s close (5 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: $25 million in the past 12 months, $17 million in the year to December 2025.
| Revenue | |||||
| Revenue | $42m | $53m | $66m | $73m | $84m |
| Operating margin | |||||
| Operating margin | 23.5% | 29.3% | 30.6% | 30.0% | 31.2% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.01bn | 0.01bn | 0.01bn | 0.01bn | 0.01bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)5 of 8 checks we could run
- Profit backed by cash (accruals)Yes
- DebtUnknown
- Revenue growth, five yearsStrong, 21.5% a year
- Buying back its own sharesRoughly flat
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $20 million last quarter, about the same as a year ago.
- Profit: $5 million, down 10% on a year ago.
- It keeps 32 cents of each $1 of sales as operating profit, up from 31 cents a year earlier.
- Spare cash over the past 12 months: $25 million, up from $14 million.
- About the same number of shares as a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $18m |
| December 2024 | $19m |
| March 2025 | $20m |
| June 2025 | $20m |
| September 2025 | $21m |
| December 2025 | $23m |
| March 2026 | $22m |
| June 2026 | $20m |
| Quarter to | Amount |
|---|---|
| September 2024 | $5m |
| December 2024 | $5m |
| March 2025 | $5m |
| June 2025 | $6m |
| September 2025 | $6m |
| December 2025 | $6m |
| March 2026 | $6m |
| June 2026 | $5m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 6 March 2026
- Next quarterly (estimated, 10-Q)
- 30 October 2026
Who owns it
None of the long-term investors we follow own it. 213 funds in all.
Sold out this quarter
- Polen CapitalDan DavidowitzSold out
Largest holders overall
- BlackRock$92m
- Kayne Anderson Rudnick Investment Management$38mAdded
- Renaissance Technologies$38mCut
- Copeland Capital Management$37mAdded
- Vanguard Capital Management$35m
- T. Rowe Price Investment Management$30mAdded
- Geode Capital Management$28m
- Nine Ten Capital Management$25mCut
- Dimensional Fund Advisors LP$22m
- State Street$21mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- Roger E. SusiPassive investorat least 34.8%(filed with 4 related holders)Since 31 March 2026
- BlackRock, Inc.Passive investor5.0%+1.1 ptsSince 30 June 2026
- Nine Ten Capital ManagementPassive investorat least 3.4%−3.7 pts(filed with 2 related holders)Since 31 December 2025
| Holder | Stake | Since | |
|---|---|---|---|
Roger E. Susi Passive investor | at least 34.8% (filed with 4 related holders) | 31 March 2026 | |
BlackRock, Inc. Passive investor | 5.0%+1.1 pts | 30 June 2026 | |
Nine Ten Capital Management Passive investor | at least 3.4%−3.7 pts (filed with 2 related holders) | 31 December 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 5 sold $20m, $10m of it under preset trading plans.
- ALLEN MONTY KDirectorSold
- Date
- 3 September 2026
- Shares
- 1,419
- Price
- $86.41
- Value
- $122,622
- Scharen-Guivel Hilda FrederiqueDirectorSold
- Date
- 4 June 2026
- Shares
- 3,000
- Price
- $95.00
- Value
- $285,000
- Susi Roger E.CEO, President, Chairman, DirectorSoldunder a preset trading plan
- Date
- 1 June 2026
- Shares
- 2,500
- Price
- $90.60
- Value
- $226,507
- Susi Roger E.CEO, President, Chairman, DirectorSoldunder a preset trading plan
- Date
- 27 May 2026
- Shares
- 2,500
- Price
- $91.95
- Value
- $229,878
- Susi Roger E.CEO, President, Chairman, DirectorSoldunder a preset trading plan
- Date
- 26 May 2026
- Shares
- 5,000
- Price
- $92.23
- Value
- $461,166
- Susi Roger E.CEO, President, Chairman, DirectorSoldunder a preset trading plan
- Date
- 19 May 2026
- Shares
- 2,500
- Price
- $87.88
- Value
- $219,694
- Susi Roger E.CEO, President, Chairman, DirectorSoldunder a preset trading plan
- Date
- 18 May 2026
- Shares
- 5,000
- Price
- $87.51
- Value
- $437,571
- Susi Roger E.CEO, President, Chairman, DirectorSoldunder a preset trading plan
- Date
- 12 May 2026
- Shares
- 4,411
- Price
- $83.92
- Value
- $370,183
- Susi Roger E.CEO, President, Chairman, DirectorSoldunder a preset trading plan
- Date
- 11 May 2026
- Shares
- 3,089
- Price
- $84.54
- Value
- $261,157
- Susi Roger E.CEO, President, Chairman, DirectorSoldunder a preset trading plan
- Date
- 5 May 2026
- Shares
- 3,750
- Price
- $85.74
- Value
- $321,529
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 3 September 2026 | ALLEN MONTY K Director | Sold | 1,419 | $86.41 | $122,622 |
| 4 June 2026 | Scharen-Guivel Hilda Frederique Director | Sold | 3,000 | $95.00 | $285,000 |
| 1 June 2026 | Susi Roger E. CEO, President, Chairman, Director | Sold under a preset trading plan | 2,500 | $90.60 | $226,507 |
| 27 May 2026 | Susi Roger E. CEO, President, Chairman, Director | Sold under a preset trading plan | 2,500 | $91.95 | $229,878 |
| 26 May 2026 | Susi Roger E. CEO, President, Chairman, Director | Sold under a preset trading plan | 5,000 | $92.23 | $461,166 |
| 19 May 2026 | Susi Roger E. CEO, President, Chairman, Director | Sold under a preset trading plan | 2,500 | $87.88 | $219,694 |
| 18 May 2026 | Susi Roger E. CEO, President, Chairman, Director | Sold under a preset trading plan | 5,000 | $87.51 | $437,571 |
| 12 May 2026 | Susi Roger E. CEO, President, Chairman, Director | Sold under a preset trading plan | 4,411 | $83.92 | $370,183 |
| 11 May 2026 | Susi Roger E. CEO, President, Chairman, Director | Sold under a preset trading plan | 3,089 | $84.54 | $261,157 |
| 5 May 2026 | Susi Roger E. CEO, President, Chairman, Director | Sold under a preset trading plan | 3,750 | $85.74 | $321,529 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 6 Mar 2026, plus the 10-Q filed 31 Jul 2026 and 3 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.