StockNews.com Downgrades Iradimed (NASDAQ:IRMD) to Buy

Iradimed (NASDAQ:IRMD) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

Iradimed Price Performance

NASDAQ:IRMD opened at $60.48 on Thursday. The firm has a 50-day moving average of $57.16 and a two-hundred day moving average of $52.02. The stock has a market cap of $766.28 million, a P/E ratio of 41.42 and a beta of 0.82. Iradimed has a 1-year low of $40.18 and a 1-year high of $63.29.

Insider Activity

In other 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 value of $135,450.00. Following 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 37.10% of the company’s stock.

Institutional Investors Weigh In On Iradimed

A number of institutional investors have recently modified their holdings of the stock. Shaker Investments LLC OH raised its stake in shares of Iradimed by 0.8% in the 4th quarter. Shaker Investments LLC OH now owns 29,894 shares of the medical equipment provider’s stock valued at $1,644,000 after purchasing an additional 233 shares in the last quarter. Bridge City Capital LLC raised its stake in Iradimed by 0.8% during the fourth quarter. Bridge City Capital LLC now owns 61,899 shares of the medical equipment provider’s stock worth $3,404,000 after acquiring an additional 462 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Iradimed by 1.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 24,779 shares of the medical equipment provider’s stock worth $1,246,000 after acquiring an additional 472 shares during the period. Huntington National Bank raised its stake in Iradimed by 51.3% during 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. Finally, US Bancorp DE raised its stake in Iradimed by 476.6% during the fourth quarter. US Bancorp DE now owns 617 shares of the medical equipment provider’s stock worth $34,000 after acquiring an additional 510 shares during the period. Institutional investors and hedge funds own 92.34% of the company’s stock.

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.