Is IRadimed Corp. overvalued or undervalued?

As of 21 November 2025, the valuation grade for IRadimed Corp. has moved from attractive to fair, indicating a shift in its perceived value. The company appears to be overvalued based on its current P/E ratio of 39, which is significantly higher than the industry average, and a PEG ratio of 3.97 that suggests limited growth potential relative to its price. Additionally, the Price to Book Value stands at 8.54, further supporting the notion of overvaluation.
In comparison to peers, IRadimed Corp. has a P/E ratio of 44.24 for Artivion, Inc. and a negative P/E for BioLife Solutions, Inc., which highlights the relative valuation challenges IRadimed faces. The company's strong return metrics, including a 62.76% year-to-date return compared to the S&P 500's 12.26%, and a remarkable 206.37% return over three years, suggest that while the stock has performed well recently, its current valuation may not be justified.