Iradimed (NASDAQ:IRMD) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Iradimed (NASDAQ:IRMD) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday.

Iradimed Price Performance

IRMD opened at $60.70 on Tuesday. The company has a 50 day simple moving average of $55.60 and a two-hundred day simple moving average of $50.98. The firm has a market cap of $769.07 million, a P/E ratio of 41.58 and a beta of 0.81. Iradimed has a 1-year low of $40.18 and a 1-year high of $61.24.

Insider Buying and Selling at Iradimed

In other Iradimed news, CFO John Glenn sold 2,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 4,383 shares in the company, valued at $237,470.94. This represents a 36.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 37.10% of the company’s stock.

Institutional Investors Weigh In On Iradimed

Several institutional investors and hedge funds have recently modified their holdings of IRMD. R Squared Ltd purchased a new position in Iradimed during the fourth quarter valued at $30,000. Huntington National Bank lifted its stake in Iradimed by 51.3% in the 3rd quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider’s stock worth $75,000 after purchasing an additional 504 shares in the last quarter. Gladius Capital Management LP boosted its holdings in shares of Iradimed by 126.6% during the 3rd quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider’s stock valued at $87,000 after purchasing an additional 965 shares during the last quarter. Quantbot Technologies LP grew its position 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 purchasing an additional 1,052 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Iradimed in the third quarter worth about $126,000. Institutional investors own 92.34% of the company’s stock.

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.