Zacks Investment Research lowered shares of Iradimed (NASDAQ:IRMD) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “iRadimed Corporation engages in developing, manufacturing, marketing, and distributing magnetic resonance imaging (MRI) compatible products. It offers non-magnetic intravenous (IV) infusion pump systems, IV tubing sets, IV poles, wireless remote displays/controls under the mRidium name; side car pump modules; dose error reduction systems; Masimo SET SpO2 monitoring products; and MRI Pulse oximeters, and MRI oximeter remotes and displays under the iMagox name used during MRI procedures. iRadimed Corporation is headquartered in Winter Park, Florida. “
IRMD opened at $15.30 on Wednesday. The firm has a market capitalization of $158.54, a PE ratio of 166.11 and a beta of 1.42. Iradimed has a 12-month low of $8.00 and a 12-month high of $15.85.
In other news, insider Louis S. Waldman sold 30,000 shares of the company’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $13.83, for a total value of $414,900.00. Following the transaction, the insider now directly owns 5,221 shares of the company’s stock, valued at $72,206.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 60.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of IRMD. Macquarie Group Ltd. increased its stake in shares of Iradimed by 643.1% in the fourth quarter. Macquarie Group Ltd. now owns 8,204 shares of the medical equipment provider’s stock worth $124,000 after acquiring an additional 7,100 shares during the last quarter. Ranger Investment Management L.P. acquired a new position in shares of Iradimed in the fourth quarter worth $238,000. Cadence Capital Management LLC acquired a new position in shares of Iradimed in the fourth quarter worth $320,000. Deutsche Bank AG increased its stake in shares of Iradimed by 820.3% in the fourth quarter. Deutsche Bank AG now owns 23,100 shares of the medical equipment provider’s stock worth $349,000 after acquiring an additional 20,590 shares during the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new position in shares of Iradimed in the fourth quarter worth $396,000. 16.34% of the stock is currently owned by institutional investors and hedge funds.
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IRADIMED CORPORATION (IRADIMED) develops, manufactures, markets and distributes Magnetic Resonance Imaging (MRI) compatible products, and provides non-magnetic intravenous (IV) infusion pump systems. The Company operates through development, manufacture and sale of MRI compatible products and IV infusion pump systems for use by hospitals and acute care facilities during MRI procedures segment.
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