Iradimed (NASDAQ:IRMD) Downgraded to "Buy" Rating by StockNews.com

Iradimed (NASDAQ:IRMD - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research note issued on Thursday.

Iradimed Price Performance

IRMD stock traded down $0.17 during trading on Thursday, reaching $55.23. 51,661 shares of the company were exchanged, compared to its average volume of 36,478. The company has a 50-day moving average of $57.20 and a two-hundred day moving average of $52.18. The company has a market capitalization of $699.76 million, a price-to-earnings ratio of 37.83 and a beta of 0.82. Iradimed has a twelve month low of $40.18 and a twelve month high of $63.29.

Iradimed (NASDAQ:IRMD - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The medical equipment provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.05). The company had revenue of $19.39 million for the quarter, compared to analyst estimates of $19.09 million. Iradimed had a return on equity of 23.99% and a net margin of 26.12%. On average, analysts forecast that Iradimed will post 1.52 EPS for the current year.

Insider Buying and Selling at Iradimed

In other Iradimed news, CFO John Glenn sold 2,500 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $54.18, for a total value of $135,450.00. Following the completion of the transaction, the chief financial officer now directly owns 4,383 shares in the company, valued at approximately $237,470.94. This represents a 36.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 37.10% of the company's stock.

Hedge Funds Weigh In On Iradimed

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. R Squared Ltd bought a new stake in shares of Iradimed in the 4th quarter valued at $30,000. US Bancorp DE boosted its stake in shares of Iradimed by 476.6% in the 4th quarter. US Bancorp DE now owns 617 shares of the medical equipment provider's stock valued at $34,000 after purchasing an additional 510 shares during the last quarter. Huntington National Bank boosted its stake in shares of Iradimed by 51.3% in the 3rd quarter. Huntington National Bank now owns 1,487 shares of the medical equipment provider's stock valued at $75,000 after purchasing an additional 504 shares during the last quarter. Gladius Capital Management LP boosted its stake in shares of Iradimed by 126.6% in the 3rd quarter. Gladius Capital Management LP now owns 1,727 shares of the medical equipment provider's stock valued at $87,000 after purchasing an additional 965 shares during the last quarter. Finally, Quantbot Technologies LP boosted its stake in shares of 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 last quarter. 92.34% of the stock is currently owned by institutional investors and hedge funds.

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.