Iradimed (NASDAQ:IRMD) Rating Increased to Strong-Buy at StockNews.com

Iradimed (NASDAQ:IRMD) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday.

Iradimed Stock Performance

Shares of IRMD stock traded up $0.77 during mid-day trading on Tuesday, hitting $60.70. The company’s stock had a trading volume of 23,632 shares, compared to its average volume of 37,849. Iradimed has a 52 week low of $40.18 and a 52 week high of $61.24. The company’s fifty day simple moving average is $55.60 and its 200-day simple moving average is $50.98. The company has a market cap of $769.07 million, a PE ratio of 41.58 and a beta of 0.81.

Insider Activity at Iradimed

In related news, CFO John Glenn sold 2,500 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $54.18, for a total value of $135,450.00. Following the completion of the sale, the chief financial officer now directly owns 4,383 shares of the company’s stock, valued at $237,470.94. The trade was a 36.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 37.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Iradimed

Hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of Iradimed during the fourth quarter worth approximately $30,000. Huntington National Bank raised its holdings in Iradimed by 51.3% during the third quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider’s stock worth $75,000 after buying an additional 504 shares during the last quarter. Gladius Capital Management LP lifted its stake in shares of Iradimed by 126.6% in the third quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider’s stock valued at $87,000 after buying an additional 965 shares in the last quarter. Quantbot Technologies LP grew its holdings in shares of Iradimed by 83.0% during the third quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider’s stock valued at $117,000 after buying an additional 1,052 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Iradimed during the third quarter worth about $126,000. Institutional investors and hedge funds own 92.34% of the company’s stock.

Iradimed Company Profile

IRadimed Corp. engages in the development, manufacture, marketing, and distribution of Magnetic Resonance Imaging compatible medical devices. It also provides a non-magnetic Intravenous infusion pump system that is specifically designed for use during MRI procedures. The company was founded by Roger Susi in July 1992 and is headquartered in Winter Springs, FL.