iShares U.S. Medical Devices ETF (NYSEARCA:IHI) Hits New 12-Month High – Time to Buy?

Shares of iShares U.S. Medical Devices ETF (NYSEARCA:IHI) hit a new 52-week high on Wednesday . The company traded as high as $60.73 and last traded at $60.64, with a volume of 7662 shares. The stock had previously closed at $59.49.

iShares U.S. Medical Devices ETF Price Performance

The firm has a market capitalization of $5.68 billion, a P/E ratio of 35.18 and a beta of 0.83. The stock has a fifty day simple moving average of $58.93 and a two-hundred day simple moving average of $57.02.

Institutional Investors Weigh In On iShares U.S. Medical Devices ETF

A number of hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its stake in iShares U.S. Medical Devices ETF by 581.3% in the first quarter. BNP Paribas Financial Markets now owns 116,170 shares of the company’s stock valued at $6,806,000 after acquiring an additional 99,118 shares during the period. SG Americas Securities LLC grew its stake in iShares U.S. Medical Devices ETF by 107.3% in the first quarter. SG Americas Securities LLC now owns 6,127 shares of the company’s stock valued at $359,000 after acquiring an additional 3,171 shares during the period. Hilltop National Bank acquired a new stake in iShares U.S. Medical Devices ETF in the first quarter valued at approximately $208,000. Montag A & Associates Inc. grew its stake in iShares U.S. Medical Devices ETF by 236.7% in the first quarter. Montag A & Associates Inc. now owns 2,020 shares of the company’s stock valued at $118,000 after acquiring an additional 1,420 shares during the period. Finally, Bedel Financial Consulting Inc. acquired a new stake in iShares U.S. Medical Devices ETF in the first quarter valued at approximately $207,000.

iShares U.S. Medical Devices ETF Company Profile

The iShares U.S. Medical Devices ETF (IHI) is an exchange-traded fund that is based on the DJ US Select \u002F Medical Equipment index, a market-cap-weighted index of manufacturers and distributors of medical devices in the US. IHI was launched on May 1, 2006 and is managed by BlackRock.