Roubaix Capital LLC Buys Shares of 48,126 iRadimed Corporation $IRMD

Key Points

• Roubaix Capital LLC acquired 48,126 shares of iRadimed Corporation in the first quarter, valued at approximately $2.5 million, increasing its ownership to 0.38% of the company.
• The company has announced a quarterly dividend of $0.17 per share, with a payment date set for August 28th, representing an annualized yield of 1.0%.
• iRadimed's stock has seen significant institutional interest, with institutional investors owning 92.34% of the company's stock as of the latest reporting period.

Roubaix Capital LLC acquired a new position in shares of iRadimed Corporation (NASDAQ:IRMD - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 48,126 shares of the medical equipment provider's stock, valued at approximately $2,526,000. Roubaix Capital LLC owned about 0.38% of iRadimed at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of IRMD. First Horizon Advisors Inc. raised its holdings in iRadimed by 78.7% in the 1st quarter. First Horizon Advisors Inc. now owns 513 shares of the medical equipment provider's stock valued at $27,000 after acquiring an additional 226 shares during the period. US Bancorp DE increased its holdings in shares of iRadimed by 132.7% during the first quarter. US Bancorp DE now owns 1,436 shares of the medical equipment provider's stock worth $75,000 after purchasing an additional 819 shares during the period. State of Wyoming bought a new position in shares of iRadimed during the fourth quarter worth approximately $149,000. Sit Investment Associates Inc. bought a new position in shares of iRadimed during the first quarter worth approximately $181,000. Finally, Snowden Capital Advisors LLC bought a new position in shares of iRadimed during the fourth quarter worth approximately $229,000. 92.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Monty K. Allen sold 1,102 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $69.10, for a total transaction of $76,148.20. Following the sale, the director owned 19,898 shares in the company, valued at approximately $1,374,951.80. This trade represents a 5.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 36.80% of the company's stock.

iRadimed Stock Performance

Shares of NASDAQ IRMD traded up $1.5810 during trading hours on Friday, hitting $72.1110. 23,512 shares of the stock were exchanged, compared to its average volume of 44,612. The company has a market cap of $917.25 million, a PE ratio of 44.74 and a beta of 0.94. The company's fifty day simple moving average is $62.10 and its two-hundred day simple moving average is $56.90. iRadimed Corporation has a 1-year low of $44.58 and a 1-year high of $73.47.

iRadimed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Monday, August 18th will be given a dividend of $0.17 per share. The ex-dividend date is Monday, August 18th. This represents a $0.68 annualized dividend and a dividend yield of 0.9%. iRadimed's dividend payout ratio (DPR) is currently 41.98%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of iRadimed from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 6th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $72.00.

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.