Roger Susi Sells 5,000 Shares of iRadimed (NASDAQ:IRMD) Stock

iRadimed Corporation (NASDAQ:IRMD) CEO Roger Susi sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $70.19, for a total transaction of $350,950.00. Following the completion of the sale, the chief executive officer directly owned 2,347,500 shares in the company, valued at $164,771,025. This trade represents a 0.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

iRadimed Price Performance

Shares of IRMD opened at $71.24 on Friday. iRadimed Corporation has a 1-year low of $46.86 and a 1-year high of $74.43. The stock has a market cap of $905.82 million, a price-to-earnings ratio of 43.98 and a beta of 1.02. The firm has a 50 day simple moving average of $70.00 and a 200-day simple moving average of $60.32.

iRadimed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Monday, August 18th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, August 18th. iRadimed’s payout ratio is 41.98%.

Institutional Investors Weigh In On iRadimed

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its stake in shares of iRadimed by 766.6% in the 2nd quarter. Osaic Holdings Inc. now owns 3,813 shares of the medical equipment provider’s stock valued at $228,000 after purchasing an additional 3,373 shares in the last quarter. Ranger Investment Management L.P. grew its stake in iRadimed by 7.4% during the second quarter. Ranger Investment Management L.P. now owns 214,840 shares of the medical equipment provider’s stock worth $12,845,000 after buying an additional 14,730 shares during the period. Tower Research Capital LLC TRC increased its position in shares of iRadimed by 191.1% in the second quarter. Tower Research Capital LLC TRC now owns 754 shares of the medical equipment provider’s stock worth $45,000 after acquiring an additional 495 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of iRadimed by 5.2% in the 2nd quarter. Lazard Asset Management LLC now owns 41,110 shares of the medical equipment provider’s stock valued at $2,457,000 after acquiring an additional 2,036 shares during the period. Finally, Brevan Howard Capital Management LP acquired a new position in shares of iRadimed during the 2nd quarter valued at $260,000. 92.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of iRadimed in a research note on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, iRadimed currently has an average rating of “Buy” and a consensus target price of $72.00.

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.