Iradimed Corporation (NASDAQ:IRMD) Sees Large Increase in Short Interest

Iradimed Corporation (NASDAQ:IRMD) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 124,100 shares, an increase of 18.2% from the December 31st total of 105,000 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average daily volume of 39,400 shares, the short-interest ratio is presently 3.1 days.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Iradimed from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 28th.

Insider Buying and Selling

In other news, CFO John Glenn sold 2,500 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 4,383 shares of the company’s stock, valued at $237,470.94. This trade represents a 36.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 37.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Iradimed

A number of institutional investors and hedge funds have recently modified their holdings of the stock. American Century Companies Inc. grew its holdings in shares of Iradimed by 21.6% during the second quarter. American Century Companies Inc. now owns 10,405 shares of the medical equipment provider’s stock worth $457,000 after buying an additional 1,850 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Iradimed by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 218,924 shares of the medical equipment provider’s stock valued at $9,620,000 after purchasing an additional 2,079 shares in the last quarter. Sei Investments Co. lifted its position in Iradimed by 59.5% during the second quarter. Sei Investments Co. now owns 10,447 shares of the medical equipment provider’s stock worth $459,000 after buying an additional 3,896 shares in the last quarter. Marshall Wace LLP acquired a new position in Iradimed during the second quarter worth $463,000. Finally, Squarepoint Ops LLC grew its holdings in Iradimed by 75.0% in the 2nd quarter. Squarepoint Ops LLC now owns 21,795 shares of the medical equipment provider’s stock valued at $958,000 after buying an additional 9,343 shares in the last quarter. Hedge funds and other institutional investors own 92.34% of the company’s stock.

Iradimed Price Performance

NASDAQ IRMD traded down $1.10 on Friday, hitting $59.21. The company had a trading volume of 30,727 shares, compared to its average volume of 33,916. The company’s fifty day moving average price is $56.02 and its 200-day moving average price is $51.26. The company has a market capitalization of $750.37 million, a PE ratio of 40.56 and a beta of 0.81. Iradimed has a 12-month low of $40.18 and a 12-month high of $61.24.

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.