Iradimed (NASDAQ:IRMD) Reaches New 1-Year High – Time to Buy?

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

Analysts Set New Price Targets

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

Iradimed Price Performance

The stock has a market capitalization of $764.13 million, a PE ratio of 41.31 and a beta of 0.81. The firm has a fifty day moving average price of $55.90 and a two-hundred day moving average price of $51.10.

Insider Buying and Selling at Iradimed

In other Iradimed news, CFO John Glenn sold 2,500 shares of Iradimed stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $54.18, for a total transaction of $135,450.00. Following the completion of the transaction, the chief financial officer now owns 4,383 shares in the company, valued at approximately $237,470.94. This trade represents a 36.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 37.10% of the company’s stock.

Institutional Investors Weigh In On Iradimed

A number of institutional investors have recently modified their holdings of IRMD. Charles Schwab Investment Management Inc. boosted its holdings in Iradimed by 189.7% in 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 buying an additional 43,635 shares during the last quarter. Eagle Asset Management Inc. acquired a new position in shares of Iradimed during the 3rd quarter worth approximately $1,239,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Iradimed by 14.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,122 shares of the medical equipment provider’s stock worth $1,012,000 after purchasing an additional 2,538 shares during the last quarter. Barclays PLC boosted its holdings in shares of Iradimed by 113.9% during the 3rd quarter. Barclays PLC now owns 23,774 shares of the medical equipment provider’s stock worth $1,196,000 after purchasing an additional 12,657 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Iradimed by 70.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,226 shares of the medical equipment provider’s stock worth $1,470,000 after purchasing an additional 12,051 shares during the last quarter. 92.34% of the stock is currently owned by institutional investors and hedge funds.

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.