iRadimed (NASDAQ:IRMD) Cut to Buy at Wall Street Zen

iRadimed (NASDAQ:IRMD - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Sunday.

Separately, Weiss Ratings reiterated a "buy (b-)" rating on shares of iRadimed in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $72.00.

iRadimed Trading Up 0.7%

iRadimed stock opened at $78.47 on Friday. The stock has a market cap of $998.14 million, a P/E ratio of 48.44 and a beta of 1.02. The stock has a 50 day moving average of $72.42 and a 200-day moving average of $62.77. iRadimed has a 52 week low of $46.86 and a 52 week high of $79.14.

Insiders Place Their Bets

In other news, CEO Roger E. Susi sold 5,000 shares of the firm's stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $74.82, for a total transaction of $374,100.00. Following the transaction, the chief executive officer directly owned 2,332,500 shares of the company's stock, valued at approximately $174,517,650. This trade represents a 0.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Monty K. Allen sold 1,102 shares of the firm's stock in a transaction 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 transaction, the director directly owned 19,898 shares in the company, valued at $1,374,951.80. This trade represents a 5.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,102 shares of company stock worth $2,235,398 over the last three months. Corporate insiders own 36.80% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IRMD. Vanguard Group Inc. raised its position in iRadimed by 3.3% in the first quarter. Vanguard Group Inc. now owns 554,451 shares of the medical equipment provider's stock worth $29,098,000 after acquiring an additional 17,640 shares in the last quarter. Geode Capital Management LLC raised its position in iRadimed by 6.5% in the second quarter. Geode Capital Management LLC now owns 261,386 shares of the medical equipment provider's stock worth $15,630,000 after acquiring an additional 15,996 shares in the last quarter. Ranger Investment Management L.P. raised its position in iRadimed by 7.4% in the second quarter. Ranger Investment Management L.P. now owns 214,840 shares of the medical equipment provider's stock worth $12,845,000 after acquiring an additional 14,730 shares in the last quarter. Goldman Sachs Group Inc. raised its position in iRadimed by 1.1% in the first quarter. Goldman Sachs Group Inc. now owns 169,387 shares of the medical equipment provider's stock worth $8,889,000 after acquiring an additional 1,821 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in iRadimed by 10.9% in the first quarter. Acadian Asset Management LLC now owns 156,319 shares of the medical equipment provider's stock worth $8,197,000 after acquiring an additional 15,329 shares in the last quarter. 92.34% of the stock is owned by institutional investors and hedge funds.

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.

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