Iradimed (NASDAQ:IRMD) Sets New 1-Year High – Here’s Why

Iradimed Corporation (NASDAQ:IRMD)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $61.25 and last traded at $61.19, with a volume of 36819 shares changing hands. The stock had previously closed at $59.35.

Analyst Ratings Changes

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

Iradimed Stock Up 3.2 %

The stock has a fifty day moving average of $56.13 and a two-hundred day moving average of $51.36. The stock has a market cap of $775.78 million, a price-to-earnings ratio of 41.94 and a beta of 0.82.

Insider Activity

In other news, CFO John Glenn sold 2,500 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $54.18, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 37.10% of the company’s stock.

Institutional Investors Weigh In On Iradimed

Hedge funds and other institutional investors have recently modified their holdings of the stock. Copeland Capital Management LLC raised its stake in Iradimed by 12.6% during the fourth 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake in Iradimed by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 218,924 shares of the medical equipment provider’s stock worth $9,620,000 after purchasing an additional 2,079 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 worth $5,506,000 after purchasing an additional 48,534 shares during the period. 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 worth $3,351,000 after purchasing an additional 43,635 shares during the period. Finally, Oak Ridge Investments LLC bought a new position in shares of Iradimed in the 3rd quarter worth about $2,188,000. 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.