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

Iradimed Corporation (NASDAQ:IRMD)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $61.02 and last traded at $60.97, with a volume of 7779 shares changing hands. The stock had previously closed at $59.93.

Analysts Set New Price Targets

Separately, StockNews.com raised Iradimed from a “buy” rating to a “strong-buy” rating in a report on Tuesday.

Iradimed Stock Performance

The firm has a 50-day moving average of $55.90 and a 200-day moving average of $51.10. The firm has a market capitalization of $764.13 million, a P/E ratio of 41.31 and a beta of 0.81.

Insider Activity at Iradimed

In other news, CFO John Glenn sold 2,500 shares of the business’s stock in a transaction on 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 in the company, valued at $237,470.94. The trade was a 36.32 % decrease in their ownership of the stock. The transaction 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 Inflows and Outflows

Several hedge funds have recently modified their holdings of IRMD. R Squared Ltd bought a new stake in shares of Iradimed in the fourth quarter worth $30,000. Huntington National Bank boosted its stake in shares of Iradimed by 51.3% in the third quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider’s stock worth $75,000 after acquiring an additional 504 shares during the period. Gladius Capital Management LP lifted its position in shares of Iradimed by 126.6% in the third quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider’s stock worth $87,000 after buying an additional 965 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of Iradimed by 83.0% in the third quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider’s stock worth $117,000 after buying an additional 1,052 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Iradimed in the third quarter worth about $126,000. Hedge funds and other institutional investors own 92.34% of the company’s stock.

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.