iRadimed (NASDAQ:IRMD) Stock Rating Upgraded by Wall Street Zen

Key Points

• iRadimed's stock was upgraded from a "buy" to a "strong-buy" rating by Wall Street Zen, highlighting increased analyst confidence in the company's prospects.
• The stock has an average price target of $72.00 and has shown significant price movement with a 1-year range between $46.86 and $78.38.
• Recent insider trading activity includes sales from Director Monty K. Allen and CEO Roger E. Susi, indicating a 5.25% and 0.21% decrease in their respective holdings.

iRadimed (NASDAQ:IRMD - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Saturday.

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

iRadimed Price Performance

NASDAQ IRMD opened at $73.43 on Friday. The stock's fifty day moving average price is $71.82 and its 200 day moving average price is $61.77. iRadimed has a 1 year low of $46.86 and a 1 year high of $78.38. The company has a market cap of $934.03 million, a price-to-earnings ratio of 45.33 and a beta of 1.02.

Insider Buying and Selling at iRadimed

In other iRadimed news, Director Monty K. Allen sold 1,102 shares of the company'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 sale, the director directly owned 19,898 shares of the company's stock, valued at approximately $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 can be accessed through this link. Also, CEO Roger E. Susi sold 5,000 shares of the company's stock in a transaction on Monday, October 13th. The shares were sold at an average price of $72.59, for a total transaction of $362,950.00. Following the completion of the sale, the chief executive officer directly owned 2,337,500 shares in the company, valued at approximately $169,679,125. The trade was a 0.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,102 shares of company stock worth $1,861,298. 36.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On iRadimed

Several hedge funds have recently modified their holdings of the company. Shaker Investments LLC OH boosted its stake in shares of iRadimed by 18.9% during the 3rd quarter. Shaker Investments LLC OH now owns 63,199 shares of the medical equipment provider's stock worth $4,497,000 after acquiring an additional 10,056 shares in the last quarter. CWM LLC boosted its stake in shares of iRadimed by 62.2% during the 3rd quarter. CWM LLC now owns 550 shares of the medical equipment provider's stock worth $39,000 after acquiring an additional 211 shares in the last quarter. Albert D Mason Inc. boosted its stake in shares of iRadimed by 5.6% during the 3rd quarter. Albert D Mason Inc. now owns 17,021 shares of the medical equipment provider's stock worth $1,211,000 after acquiring an additional 898 shares in the last quarter. Osaic Holdings Inc. boosted its stake in shares of iRadimed by 766.6% during the 2nd quarter. Osaic Holdings Inc. now owns 3,813 shares of the medical equipment provider's stock worth $228,000 after acquiring an additional 3,373 shares in the last quarter. Finally, Ranger Investment Management L.P. boosted its stake in shares of iRadimed by 7.4% during the 2nd 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. 92.34% of the stock is 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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