iRadimed (NASDAQ:IRMD) Stock Rating Upgraded by Zacks Research

iRadimed (NASDAQ:IRMD) was upgraded by investment analysts at Zacks Research to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other analysts have also commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of iRadimed in a research note on Friday, October 31st. Roth Capital set a $90.00 target price on shares of iRadimed in a research report on Friday, October 31st. Lake Street Capital restated a “buy” rating and set a $100.00 target price on shares of iRadimed in a research report on Monday. Finally, Wall Street Zen lowered shares of iRadimed from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 26th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, iRadimed presently has an average rating of “Moderate Buy” and a consensus target price of $87.33.

iRadimed Stock Down 2.1%

Shares of IRMD stock opened at $84.96 on Tuesday. iRadimed has a fifty-two week low of $47.48 and a fifty-two week high of $87.88. The stock has a market cap of $1.08 billion, a P/E ratio of 52.44 and a beta of 1.04. The business has a fifty day simple moving average of $73.89 and a 200-day simple moving average of $64.46.

Insider Activity at iRadimed

In related news, CEO Roger E. Susi sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $82.64, for a total transaction of $413,200.00. Following the sale, the chief executive officer directly owned 2,322,500 shares in the company, valued at approximately $191,931,400. This trade represents a 0.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 40,000 shares of company stock worth $2,960,900. Company insiders own 36.80% of the company’s stock.

Institutional Investors Weigh In On iRadimed

Several hedge funds and other institutional investors have recently bought and sold shares of the business. State of Wyoming purchased a new stake in iRadimed during the 3rd quarter worth approximately $72,000. Principal Financial Group Inc. bought a new position in iRadimed during the 3rd quarter worth $422,000. Summit Global Investments grew its stake in iRadimed by 2.7% during the 3rd quarter. Summit Global Investments now owns 7,139 shares of the medical equipment provider’s stock worth $508,000 after buying an additional 188 shares during the last quarter. Riverwater Partners LLC bought a new position in iRadimed during the 3rd quarter worth $218,000. Finally, State of Alaska Department of Revenue bought a new position in shares of iRadimed in the third quarter worth $47,000. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

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.