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

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

Iradimed Stock Down 1.1 %

Shares of NASDAQ IRMD opened at $60.48 on Thursday. Iradimed has a 52-week low of $40.18 and a 52-week high of $63.29. The firm has a fifty day moving average of $57.16 and a 200-day moving average of $52.02. The stock has a market capitalization of $766.28 million, a PE ratio of 41.42 and a beta of 0.82.

Insider Activity

In related news, CFO John Glenn sold 2,500 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 37.10% of the company’s stock.

Institutional Trading of Iradimed

A number of institutional investors have recently added to or reduced their stakes in IRMD. SG Americas Securities LLC purchased a new stake in Iradimed during the 3rd quarter worth $147,000. Allspring Global Investments Holdings LLC boosted its position in Iradimed by 14.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,122 shares of the medical equipment provider’s stock worth $1,012,000 after purchasing an additional 2,538 shares during the period. Copeland Capital Management LLC boosted its position in Iradimed by 0.3% during the 3rd quarter. Copeland Capital Management LLC now owns 422,425 shares of the medical equipment provider’s stock worth $21,244,000 after purchasing an additional 1,433 shares during the period. Albert D Mason Inc. purchased a new position in Iradimed in the 3rd quarter valued at about $737,000. Finally, Semanteon Capital Management LP purchased a new position in Iradimed in the 3rd quarter valued at about $331,000. 92.34% of the stock is owned by hedge funds and other 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.