Iradimed Corp (NASDAQ:IRMD) shares rose 13.4% during trading on Friday . The company traded as high as $23.30 and last traded at $23.04, approximately 110,000 shares changed hands during mid-day trading. An increase of 60% from the average daily volume of 68,639 shares. The stock had previously closed at $20.31.
IRMD has been the topic of a number of recent research reports. ValuEngine upgraded Iradimed from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. Zacks Investment Research lowered Iradimed from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd.
The stock has a market capitalization of $253.55 million, a P/E ratio of 53.58 and a beta of 1.67. The company has a debt-to-equity ratio of 0.06, a quick ratio of 9.39 and a current ratio of 10.29. The stock has a 50-day simple moving average of $20.37 and a 200 day simple moving average of $22.65.
In other news, insider Louis S. Waldman sold 25,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $22.71, for a total value of $567,750.00. Following the transaction, the insider now directly owns 2,005 shares in the company, valued at approximately $45,533.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brent Johnson sold 5,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $22.83, for a total value of $114,150.00. Following the completion of the transaction, the vice president now owns 3,368 shares in the company, valued at $76,891.44. The disclosure for this sale can be found here. Insiders sold a total of 71,400 shares of company stock worth $1,569,574 over the last quarter. Corporate insiders own 56.80% of the company’s stock.
Large investors have recently bought and sold shares of the company. HM Payson & Co. bought a new position in shares of Iradimed in the 2nd quarter worth $89,000. Victory Capital Management Inc. bought a new position in shares of Iradimed in the 1st quarter worth $212,000. Charles Schwab Investment Management Inc. boosted its position in shares of Iradimed by 34.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 10,500 shares of the medical equipment provider’s stock worth $215,000 after purchasing an additional 2,666 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Iradimed in the 1st quarter worth $241,000. Finally, Morgan Stanley boosted its position in shares of Iradimed by 14.3% in the 2nd quarter. Morgan Stanley now owns 13,118 shares of the medical equipment provider’s stock worth $268,000 after purchasing an additional 1,637 shares during the last quarter. Institutional investors and hedge funds own 30.63% of the company’s stock.
About Iradimed (NASDAQ:IRMD)
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; and MRI compatible patient vital signs monitoring system.
Further Reading: Overbought
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