Iradimed: Improving MRIs

02/16/2016 7:00 am EST

Focus: STOCKS

James Oberweis

President, Oberweis Asset Management, Inc.

Our latest featured recommendation develops, manufactures, markets, and distributes magnetic resonance imaging (MRI) compatible products, notes money manager and small-cap expert Jim Oberweis, Jr. in The Oberweis Report.

Iradimed (IRMD) is today the only known provider of non-magnetic intravenous (IV) infusion pump systems.

The company was the first to develop an infusion delivery system that neutralizes the dangers and problems present during MRI procedures.

Standard infusion pumps contain magnetic and electronic components that can create radio frequency interference and are dangerous to operate in the presence of the powerful magnet that drives an MRI system.

Its MRidium MRI compatible IV infusion pump system uses a patented non-magnetic ultrasonic motor and other uniquely designed non-ferrous parts that enable accurate, safe, and dependable fluid delivery to patients undergoing an MRI procedure.

Iradimed sells their products primarily to acute care facilities and outpatient imaging centers, both in the United States and internationally.

The company is planning to aggressively increase their sales reps and launch a new MRI monitor product during 2016.

In the company’s latest reported third quarter, sales increased approximately 115% to $8.2 million from $3.8 million in the third quarter of last year.

Iradimed reported earnings per share of $.17 in the latest reported third quarter versus $.02 in the same quarter of last year.

Clients of Oberweis Asset Management own approximately 31,000 shares. These shares may be appropriate for risk-oriented investors.

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