Iradimed (NASDAQ:IRMD) Hits New 12-Month High - Should You Buy?

Iradimed Corporation (NASDAQ:IRMD - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $61.02 and last traded at $60.97, with a volume of 7779 shares traded. The stock had previously closed at $59.93.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Iradimed from a "buy" rating to a "strong-buy" rating in a research report on Tuesday.

Iradimed Stock Down 1.5 %

The company has a market capitalization of $752.90 million, a PE ratio of 40.70 and a beta of 0.81. The business has a 50 day simple moving average of $55.90 and a 200 day simple moving average of $51.10.

Insider Transactions at Iradimed

In related news, CFO John Glenn sold 2,500 shares of the business's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $54.18, for a total value of $135,450.00. Following the sale, the chief financial officer now owns 4,383 shares in the company, valued at approximately $237,470.94. The trade was a 36.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 37.10% of the company's stock.

Hedge Funds Weigh In On Iradimed

Several large investors have recently bought and sold shares of IRMD. Copeland Capital Management LLC boosted its holdings in Iradimed by 12.6% in the fourth quarter. Copeland Capital Management LLC now owns 475,563 shares of the medical equipment provider's stock valued at $26,156,000 after purchasing an additional 53,138 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Iradimed by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 218,924 shares of the medical equipment provider's stock valued at $9,620,000 after buying an additional 2,079 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Iradimed by 189.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 66,632 shares of the medical equipment provider's stock worth $3,351,000 after acquiring an additional 43,635 shares in the last quarter. Oak Ridge Investments LLC purchased a new position in shares of Iradimed during the third quarter worth about $2,188,000. Finally, Algert Global LLC increased its position in shares of Iradimed by 16.4% during the third quarter. Algert Global LLC now owns 31,158 shares of the medical equipment provider's stock worth $1,567,000 after purchasing an additional 4,384 shares in the last quarter. Hedge funds and other institutional investors own 92.34% of the company's stock.

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.