Iradimed (IRMD) Raised to Strong-Buy at BidaskClub
BidaskClub upgraded shares of Iradimed (NASDAQ:IRMD) from a buy rating to a strong-buy rating in a research note issued to investors on Wednesday morning.
Several other research analysts also recently commented on the company. Roth Capital lifted their target price on Iradimed from $21.00 to $26.00 and gave the stock a buy rating in a report on Wednesday, August 1st. TheStreet raised Iradimed from a c+ rating to a b- rating in a research note on Monday, August 27th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $21.67.
Shares of IRMD opened at $28.25 on Wednesday. The stock has a market cap of $325.21 million, a price-to-earnings ratio of 353.13 and a beta of 1.49. Iradimed has a 12 month low of $9.40 and a 12 month high of $31.14.
In other news, VP Steven M. Nardi sold 7,662 shares of the business’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $23.80, for a total value of $182,355.60. Following the transaction, the vice president now directly owns 5,162 shares of the company’s stock, valued at approximately $122,855.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher K. Scott sold 96,250 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $26.05, for a total value of $2,507,312.50. Following the completion of the transaction, the chief financial officer now directly owns 32,398 shares in the company, valued at $843,967.90. The disclosure for this sale can be found here. Insiders sold a total of 176,556 shares of company stock worth $4,598,341 over the last three months. 61.20% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC acquired a new position in shares of Iradimed in the 1st quarter valued at about $162,000. Bank of America Corp DE lifted its stake in shares of Iradimed by 3,722.5% in the 2nd quarter. Bank of America Corp DE now owns 14,793 shares of the medical equipment provider’s stock valued at $307,000 after purchasing an additional 14,406 shares during the period. Deutsche Bank AG lifted its stake in shares of Iradimed by 820.3% in the 4th quarter. Deutsche Bank AG now owns 23,100 shares of the medical equipment provider’s stock valued at $349,000 after purchasing an additional 20,590 shares during the period. Northern Trust Corp lifted its stake in shares of Iradimed by 27.9% in the 1st quarter. Northern Trust Corp now owns 26,791 shares of the medical equipment provider’s stock valued at $386,000 after purchasing an additional 5,850 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Iradimed by 46.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 22,588 shares of the medical equipment provider’s stock valued at $469,000 after purchasing an additional 7,156 shares during the period. 19.86% of the stock is currently owned by institutional investors.
IRadimed Corporation develops, manufactures, markets, and distributes magnetic resonance imaging (MRI) compatible medical devices, and related accessories and services in the United States and internationally. It offers MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets under the MRidium name; and MRI compatible patient vital signs monitoring system under the IRadimed name.
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