Weiss Ratings Reaffirms “Buy (B)” Rating for iRadimed (NASDAQ:IRMD)

iRadimed (NASDAQ:IRMD)‘s stock had its “buy (b)” rating reissued by research analysts at Weiss Ratings in a note issued to investors on Friday,Weiss Ratings reports.

Several other research analysts have also weighed in on IRMD. Wall Street Zen lowered shares of iRadimed from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 26th. Roth Capital set a $90.00 target price on shares of iRadimed in a research report on Friday. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $81.00.

iRadimed Trading Up 0.5%

Shares of IRMD opened at $76.81 on Friday. The firm’s 50-day moving average is $73.14 and its two-hundred day moving average is $63.75. iRadimed has a twelve month low of $46.86 and a twelve month high of $80.64. The firm has a market capitalization of $976.64 million, a P/E ratio of 47.41 and a beta of 1.02.

Insider Activity at iRadimed

In other news, Director Monty K. Allen sold 1,102 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $69.10, for a total value of $76,148.20. Following the sale, the director directly owned 19,898 shares in the company, valued at $1,374,951.80. This represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Roger E. Susi sold 5,000 shares of the stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $77.69, for a total transaction of $388,450.00. Following the completion of the sale, the chief executive officer owned 2,327,500 shares in the company, valued at $180,823,475. This represents a 0.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 36,102 shares of company stock worth $2,623,848 over the last quarter. Company insiders own 36.80% of the company’s stock.

Hedge Funds Weigh In On iRadimed

Institutional investors and hedge funds have recently modified their holdings of the company. First Horizon Advisors Inc. lifted its stake in shares of iRadimed by 78.7% during the first quarter. First Horizon Advisors Inc. now owns 513 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 226 shares during the period. CWM LLC lifted its stake in shares of iRadimed by 62.2% during the third quarter. CWM LLC now owns 550 shares of the medical equipment provider’s stock valued at $39,000 after buying an additional 211 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of iRadimed by 191.1% during the second quarter. Tower Research Capital LLC TRC now owns 754 shares of the medical equipment provider’s stock valued at $45,000 after buying an additional 495 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of iRadimed during the third quarter valued at approximately $47,000. Finally, Spire Wealth Management purchased a new position in shares of iRadimed during the second quarter valued at approximately $60,000. 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.