Iradimed (NASDAQ:IRMD) Sets New 52-Week High - Still a Buy?

Iradimed Corporation (NASDAQ:IRMD - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $61.25 and last traded at $61.19, with a volume of 36819 shares traded. The stock had previously closed at $59.35.

Wall Street Analysts Forecast Growth

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

Iradimed Trading Down 2.0 %

The stock has a market cap of $762.10 million, a P/E ratio of 41.20 and a beta of 0.82. The company has a 50 day simple moving average of $56.77 and a 200 day simple moving average of $51.72.

Insider Activity

In other news, CFO John Glenn sold 2,500 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $54.18, for a total value of $135,450.00. Following the sale, the chief financial officer now directly owns 4,383 shares of the company's stock, valued at approximately $237,470.94. This represents a 36.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 37.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IRMD. R Squared Ltd bought a new stake in shares of Iradimed during the 4th quarter worth about $30,000. US Bancorp DE boosted its holdings in shares of Iradimed by 476.6% during the fourth quarter. US Bancorp DE now owns 617 shares of the medical equipment provider's stock worth $34,000 after acquiring an additional 510 shares during the period. Huntington National Bank increased its stake in shares of Iradimed by 51.3% during the third quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider's stock worth $75,000 after purchasing an additional 504 shares during the period. Gladius Capital Management LP lifted its holdings in Iradimed by 126.6% during the 3rd quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider's stock worth $87,000 after purchasing an additional 965 shares during the last quarter. Finally, Quantbot Technologies LP boosted its stake in Iradimed by 83.0% in the 3rd quarter. Quantbot Technologies LP now owns 2,320 shares of the medical equipment provider's stock valued at $117,000 after purchasing an additional 1,052 shares during the period. 92.34% of the stock is currently owned by 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.