Iradimed (NASDAQ:IRMD) Downgraded to “Buy” Rating by StockNews.com

StockNews.com cut shares of Iradimed (NASDAQ:IRMD) from a strong-buy rating to a buy rating in a report issued on Wednesday.

Iradimed Price Performance

Shares of NASDAQ:IRMD opened at $62.67 on Wednesday. Iradimed has a one year low of $40.18 and a one year high of $63.29. The company has a market cap of $794.03 million, a price-to-earnings ratio of 42.92 and a beta of 0.82. The firm has a 50 day simple moving average of $56.49 and a 200 day simple moving average of $51.55.

Insider Activity at Iradimed

In other Iradimed news, CFO John Glenn sold 2,500 shares of the company’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 value of $135,450.00. Following the completion of the transaction, the chief financial officer now directly 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 legal filing with the SEC, which can be accessed through this link. 37.10% of the stock is currently owned by company insiders.

Institutional Trading of Iradimed

Institutional investors have recently modified their holdings of the business. Copeland Capital Management LLC grew its position in shares of Iradimed by 12.6% in the 4th quarter. Copeland Capital Management LLC now owns 475,563 shares of the medical equipment provider’s stock valued at $26,156,000 after buying an additional 53,138 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Iradimed by 94.1% in the fourth quarter. Bank of New York Mellon Corp now owns 100,108 shares of the medical equipment provider’s stock valued at $5,506,000 after acquiring an additional 48,534 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Iradimed by 189.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 66,632 shares of the medical equipment provider’s stock valued at $3,351,000 after purchasing an additional 43,635 shares during the period. Oak Ridge Investments LLC acquired a new stake in Iradimed during the 3rd quarter valued at approximately $2,188,000. Finally, Eagle Asset Management Inc. acquired a new position in shares of Iradimed in the 3rd quarter worth approximately $1,239,000. Institutional investors own 92.34% of the company’s stock.

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.