iRadimed (NASDAQ:IRMD) Stock Rating Upgraded by Wall Street Zen

iRadimed (NASDAQ:IRMD) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of iRadimed in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $72.00.

iRadimed Trading Down 3.4%

Shares of IRMD stock opened at $73.43 on Friday. The company has a market capitalization of $934.03 million, a price-to-earnings ratio of 45.33 and a beta of 1.02. The firm has a 50-day moving average price of $71.82 and a 200 day moving average price of $61.90. iRadimed has a twelve month low of $46.86 and a twelve month high of $78.38.

Insider Transactions at iRadimed

In related news, Director Monty K. Allen sold 1,102 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $69.10, for a total value of $76,148.20. Following the completion of the sale, the director directly owned 19,898 shares in the company, valued at approximately $1,374,951.80. The trade was a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Roger E. Susi sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $72.59, for a total transaction of $362,950.00. Following the transaction, the chief executive officer directly owned 2,337,500 shares of the company’s stock, valued at $169,679,125. This trade represents a 0.21% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,102 shares of company stock valued at $1,861,298. Corporate insiders own 36.80% of the company’s stock.

Institutional Trading of iRadimed

A number of institutional investors and hedge funds have recently made changes to their positions in IRMD. Vanguard Group Inc. raised its position in shares of iRadimed by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 554,451 shares of the medical equipment provider’s stock worth $29,098,000 after buying an additional 17,640 shares during the period. Copeland Capital Management LLC raised its holdings in shares of iRadimed by 3.2% in the 1st quarter. Copeland Capital Management LLC now owns 490,544 shares of the medical equipment provider’s stock worth $25,744,000 after purchasing an additional 14,981 shares during the period. Geode Capital Management LLC raised its holdings in shares of iRadimed by 6.5% in the 2nd quarter. Geode Capital Management LLC now owns 261,386 shares of the medical equipment provider’s stock worth $15,630,000 after purchasing an additional 15,996 shares during the period. Ranger Investment Management L.P. lifted its stake in shares of iRadimed by 7.4% in the 2nd quarter. Ranger Investment Management L.P. now owns 214,840 shares of the medical equipment provider’s stock valued at $12,845,000 after purchasing an additional 14,730 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of iRadimed by 1.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 169,387 shares of the medical equipment provider’s stock worth $8,889,000 after purchasing an additional 1,821 shares during the period. 92.34% of the stock is currently owned by institutional investors and hedge funds.

About iRadimed

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.