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

StockNews.com lowered shares of Iradimed (NASDAQ:IRMD) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday morning.

Iradimed Stock Performance

IRMD stock opened at $55.40 on Thursday. Iradimed has a 1 year low of $40.18 and a 1 year high of $63.29. The firm has a market cap of $701.92 million, a P/E ratio of 37.95 and a beta of 0.82. The stock has a 50-day simple moving average of $57.16 and a 200-day simple moving average of $52.02.

Iradimed (NASDAQ:IRMD) last posted its earnings results on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.05). Iradimed had a net margin of 26.12% and a return on equity of 23.99%. On average, equities research analysts predict that Iradimed will post 1.52 EPS for the current year.

Insider Activity at Iradimed

In related news, CFO John Glenn sold 2,500 shares of the stock in a transaction dated Monday, December 2nd. The stock was 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 approximately $237,470.94. This represents a 36.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 37.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Iradimed by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 536,811 shares of the medical equipment provider’s stock valued at $29,525,000 after purchasing an additional 22,762 shares during the last quarter. Copeland Capital Management LLC lifted its holdings 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 buying an additional 53,138 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Iradimed by 17.9% during the 4th quarter. Geode Capital Management LLC now owns 222,772 shares of the medical equipment provider’s stock worth $12,255,000 after buying an additional 33,879 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Iradimed by 94.1% during the 4th quarter. Bank of New York Mellon Corp now owns 100,108 shares of the medical equipment provider’s stock worth $5,506,000 after buying an additional 48,534 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings 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 worth $3,351,000 after buying an additional 43,635 shares during the last quarter. Hedge funds and other 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.