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 note published on Tuesday.

Iradimed Stock Performance

IRMD opened at $60.70 on Tuesday. The company’s 50-day simple moving average is $55.60 and its two-hundred day simple moving average is $50.98. The stock has a market capitalization of $769.07 million, a P/E ratio of 41.58 and a beta of 0.81. Iradimed has a 52-week low of $40.18 and a 52-week high of $61.24.

Insider Buying and Selling

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

Institutional Investors Weigh In On Iradimed

A number of large investors have recently made changes to their positions in the company. R Squared Ltd purchased a new position in shares of Iradimed in the fourth quarter worth approximately $30,000. Huntington National Bank raised its position in Iradimed by 51.3% in the third quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider’s stock worth $75,000 after acquiring an additional 504 shares during the period. Gladius Capital Management LP boosted its stake 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 worth $87,000 after acquiring an additional 965 shares during the last quarter. Quantbot Technologies LP grew its position in shares of Iradimed by 83.0% during the 3rd quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider’s stock valued at $117,000 after acquiring an additional 1,052 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Iradimed during the 3rd quarter valued at $126,000. 92.34% of the stock is currently 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.