Iradimed (NASDAQ:IRMD) Stock Rating Upgraded by StockNews.com

Iradimed (NASDAQ:IRMD) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday.

Iradimed Stock Performance

IRMD stock opened at $59.85 on Tuesday. Iradimed has a one year low of $40.18 and a one year high of $61.24. The firm’s fifty day moving average is $55.75 and its 200 day moving average is $51.04. The firm has a market cap of $758.48 million, a PE ratio of 40.99 and a beta of 0.81.

Insider Activity at Iradimed

In related news, CFO John Glenn sold 2,500 shares of Iradimed stock in a transaction 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 sale, the chief financial officer now owns 4,383 shares of the company’s stock, valued at approximately $237,470.94. This trade represents a 36.32 % decrease in their position. 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 owned by company insiders.

Hedge Funds Weigh In On Iradimed

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Copeland Capital Management LLC raised its position in shares of 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 purchasing an additional 53,138 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Iradimed by 189.7% during 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 acquiring an additional 43,635 shares during the last quarter. Oak Ridge Investments LLC purchased a new position in shares of Iradimed in the third quarter valued at approximately $2,188,000. Eagle Asset Management Inc. acquired a new stake in shares of Iradimed in the third quarter worth approximately $1,239,000. Finally, Albert D Mason Inc. purchased a new stake in shares of Iradimed during the third quarter worth approximately $737,000. 92.34% of the stock is owned by hedge funds and other institutional investors.

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.