Iradimed (NASDAQ:IRMD) Lowered to Buy Rating by StockNews.com

StockNews.com downgraded shares of Iradimed (NASDAQ:IRMD) from a strong-buy rating to a buy rating in a report released on Wednesday.

Iradimed Trading Down 2.0 %

Shares of Iradimed stock opened at $60.15 on Wednesday. The firm has a fifty day simple moving average of $56.64 and a 200-day simple moving average of $51.62. The stock has a market capitalization of $762.10 million, a price-to-earnings ratio of 41.20 and a beta of 0.82. Iradimed has a 1-year low of $40.18 and a 1-year high of $63.29.

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 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 transaction, the chief financial officer now owns 4,383 shares of the company’s stock, valued at approximately $237,470.94. This represents a 36.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 37.10% of the company’s stock.

Institutional Investors Weigh In On Iradimed

Institutional investors and hedge funds have recently made changes to their positions in the company. Sei Investments Co. increased its position in Iradimed by 59.5% in the second quarter. Sei Investments Co. now owns 10,447 shares of the medical equipment provider’s stock worth $459,000 after purchasing an additional 3,896 shares during the period. Marshall Wace LLP bought a new stake in shares of Iradimed during the second quarter worth approximately $463,000. AQR Capital Management LLC bought a new stake in shares of Iradimed during the second quarter worth approximately $371,000. SG Americas Securities LLC acquired a new position in Iradimed in the third quarter valued at approximately $147,000. Finally, Kings Path Partners LLC boosted its stake in Iradimed by 2.3% in the third quarter. Kings Path Partners LLC now owns 24,570 shares of the medical equipment provider’s stock valued at $1,236,000 after acquiring an additional 562 shares during the last quarter. 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.