Iradimed Corp (NASDAQ:IRMD) VP Francis X. Casey sold 55,000 shares of the company’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $29.30, for a total transaction of $1,611,500.00. Following the transaction, the vice president now owns 98,779 shares of the company’s stock, valued at $2,894,224.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

NASDAQ IRMD traded up $2.70 on Monday, reaching $30.95. The company had a trading volume of 115,200 shares, compared to its average volume of 44,612. The company has a market capitalization of $325.21 million, a price-to-earnings ratio of 386.88 and a beta of 1.49. Iradimed Corp has a fifty-two week low of $9.40 and a fifty-two week high of $31.30.

Iradimed (NASDAQ:IRMD) last posted its quarterly earnings data on Tuesday, July 31st. The medical equipment provider reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.04. The business had revenue of $7.38 million during the quarter, compared to the consensus estimate of $7.26 million. Iradimed had a return on equity of 8.99% and a net margin of 9.57%. sell-side analysts anticipate that Iradimed Corp will post 0.37 earnings per share for the current year.

IRMD has been the subject of several research analyst reports. BidaskClub upgraded shares of Iradimed from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 12th. Roth Capital upped their price target on shares of Iradimed from $21.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Finally, TheStreet upgraded shares of Iradimed from a “c+” rating to a “b-” rating in a report on Monday, August 27th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $21.67.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC acquired a new stake in Iradimed in the first quarter valued at $162,000. Bank of America Corp DE increased its holdings in Iradimed by 3,722.5% in the second 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. Northern Trust Corp increased its holdings in Iradimed by 27.9% in the first 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. Bank of New York Mellon Corp increased its holdings in Iradimed by 46.4% in the second 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. Finally, EAM Investors LLC increased its holdings in Iradimed by 25.0% in the second quarter. EAM Investors LLC now owns 36,774 shares of the medical equipment provider’s stock valued at $763,000 after purchasing an additional 7,348 shares during the period. Institutional investors and hedge funds own 19.86% of the company’s stock.

About Iradimed

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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