Iradimed (NASDAQ:IRMD) Upgraded at StockNews.com

StockNews.com upgraded shares of Iradimed (NASDAQ:IRMD) from a buy rating to a strong-buy rating in a research note released on Tuesday morning.

Iradimed Trading Up 0.8 %

IRMD stock opened at $60.31 on Tuesday. The firm has a market cap of $764.13 million, a P/E ratio of 41.31 and a beta of 0.81. Iradimed has a 1-year low of $40.18 and a 1-year high of $61.24. The business’s 50 day moving average is $55.90 and its 200-day moving average is $51.10.

Insider Buying and Selling

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

Hedge Funds Weigh In On Iradimed

A number of institutional investors have recently modified their holdings of IRMD. American Century Companies Inc. grew its stake in shares of Iradimed by 21.6% during the second quarter. American Century Companies Inc. now owns 10,405 shares of the medical equipment provider’s stock valued at $457,000 after purchasing an additional 1,850 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Iradimed by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 218,924 shares of the medical equipment provider’s stock valued at $9,620,000 after buying an additional 2,079 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Iradimed by 14.7% in the 2nd quarter. Hsbc Holdings PLC now owns 9,344 shares of the medical equipment provider’s stock valued at $410,000 after buying an additional 1,195 shares during the period. Sei Investments Co. raised its position in shares of Iradimed by 59.5% during the second quarter. Sei Investments Co. now owns 10,447 shares of the medical equipment provider’s stock worth $459,000 after acquiring an additional 3,896 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Iradimed during the second quarter valued at $463,000. 92.34% of the stock is owned by institutional investors.

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.