iRadimed (NASDAQ:IRMD) Given Buy (B-) Rating at Weiss Ratings

Key Points

• iRadimed's stock (NASDAQ:IRMD) has received a reaffirmed buy (B-) rating from Weiss Ratings.
• The stock is currently priced at $76.87 with a market capitalization of $977.79 million and a P/E ratio of 47.45.
• Insider transactions revealed that CEO Roger E. Susi sold 5,000 shares, reducing his ownership by 0.21%, while insiders currently own 36.80% of the company's stock.

iRadimed (NASDAQ:IRMD - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

iRadimed Price Performance

Shares of NASDAQ IRMD opened at $76.87 on Wednesday. The stock has a market capitalization of $977.79 million, a P/E ratio of 47.45 and a beta of 1.02. iRadimed has a 1-year low of $46.86 and a 1-year high of $77.88. The business has a fifty day moving average price of $71.00 and a 200 day moving average price of $60.77.

Insider Transactions at iRadimed

In other iRadimed news, CEO Roger E. Susi sold 5,000 shares of the stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.72, for a total value of $358,600.00. Following the completion of the sale, the chief executive officer directly owned 2,342,500 shares in the company, valued at approximately $168,004,100. This trade represents a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Monty K. Allen sold 1,102 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $69.10, for a total value of $76,148.20. Following the completion of the sale, the director owned 19,898 shares of the company's stock, valued at approximately $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. Over the last quarter, insiders sold 21,102 shares of company stock valued at $1,498,348. 36.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On iRadimed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IRMD. First Horizon Advisors Inc. raised its stake in iRadimed by 78.7% in 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 last quarter. Tower Research Capital LLC TRC increased its holdings in shares of iRadimed by 191.1% in the second quarter. Tower Research Capital LLC TRC now owns 754 shares of the medical equipment provider's stock valued at $45,000 after purchasing an additional 495 shares during the period. Spire Wealth Management acquired a new position in shares of iRadimed in the second quarter valued at about $60,000. US Bancorp DE increased its holdings in shares of iRadimed by 132.7% in the first quarter. US Bancorp DE now owns 1,436 shares of the medical equipment provider's stock valued at $75,000 after purchasing an additional 819 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of iRadimed in the first quarter valued at about $78,000. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

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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