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

Iradimed (NASDAQ:IRMDGet Free Report) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday.

Iradimed Stock Up 1.3 %

Shares of IRMD traded up $0.77 during trading hours on Tuesday, hitting $60.70. 23,632 shares of the company were exchanged, compared to its average volume of 37,849. Iradimed has a fifty-two week low of $40.18 and a fifty-two week high of $61.24. The company has a market cap of $769.07 million, a price-to-earnings ratio of 41.58 and a beta of 0.81. The firm’s fifty day moving average is $55.60 and its 200 day moving average is $50.98.

Insider Activity at Iradimed

In related news, CFO John Glenn sold 2,500 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were 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 owns 4,383 shares of the company’s stock, valued at $237,470.94. This represents a 36.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 37.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Copeland Capital Management LLC grew its position in Iradimed by 12.6% during the 4th quarter. Copeland Capital Management LLC now owns 475,563 shares of the medical equipment provider’s stock worth $26,156,000 after acquiring an additional 53,138 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Iradimed by 189.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 66,632 shares of the medical equipment provider’s stock valued at $3,351,000 after buying an additional 43,635 shares during the period. Oak Ridge Investments LLC bought a new position in Iradimed in the 3rd quarter valued at approximately $2,188,000. Eagle Asset Management Inc. acquired a new stake in Iradimed during the 3rd quarter worth approximately $1,239,000. Finally, Albert D Mason Inc. bought a new stake in Iradimed during the 3rd quarter worth approximately $737,000. 92.34% of the stock is currently owned by institutional investors and hedge funds.

About Iradimed

(Get Free Report)

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.

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