Algert Global LLC Sells 4,784 Shares of iRadimed Corporation $IRMD

Key Points

• Algert Global LLC reduced its stake in iRadimed Corporation by 15.0%, leaving it with approximately 0.21% of the company valued at $1.42 million after selling 4,784 shares.
• Analysts have raised iRadimed's shares from a "buy" rating to a "strong-buy" rating, with a consensus price target of $72.00.
• iRadimed is set to pay a $0.17 quarterly dividend on August 28, with an annualized yield of 0.9% and a payout ratio of 41.98%.

Algert Global LLC trimmed its holdings in shares of iRadimed Corporation (NASDAQ:IRMD - Free Report) by 15.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,067 shares of the medical equipment provider's stock after selling 4,784 shares during the period. Algert Global LLC owned about 0.21% of iRadimed worth $1,420,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of iRadimed by 4.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,577 shares of the medical equipment provider's stock valued at $252,000 after acquiring an additional 204 shares during the last quarter. First Horizon Advisors Inc. increased its stake in iRadimed by 78.7% in the 1st quarter. First Horizon Advisors Inc. now owns 513 shares of the medical equipment provider's stock worth $27,000 after purchasing an additional 226 shares during the period. Albert D Mason Inc. increased its stake in iRadimed by 2.0% in the 1st quarter. Albert D Mason Inc. now owns 17,269 shares of the medical equipment provider's stock worth $906,000 after purchasing an additional 333 shares during the period. HighTower Advisors LLC lifted its position in iRadimed by 0.6% in the first quarter. HighTower Advisors LLC now owns 60,361 shares of the medical equipment provider's stock valued at $3,168,000 after purchasing an additional 361 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of iRadimed by 2.3% during the fourth quarter. BNP Paribas Financial Markets now owns 21,138 shares of the medical equipment provider's stock valued at $1,163,000 after purchasing an additional 477 shares during the period. Hedge funds and other institutional investors own 92.34% of the company's stock.

Insider Transactions at iRadimed

In other iRadimed news, Director Monty K. Allen sold 1,102 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $69.10, for a total value of $76,148.20. Following the completion of the sale, the director directly owned 19,898 shares in the company, valued at $1,374,951.80. This trade represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 36.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

iRadimed Price Performance

iRadimed stock traded down $0.58 during mid-day trading on Thursday, reaching $73.28. 5,408 shares of the company traded hands, compared to its average volume of 44,880. iRadimed Corporation has a 52-week low of $44.58 and a 52-week high of $74.00. The firm has a market capitalization of $932.06 million, a price-to-earnings ratio of 45.20 and a beta of 0.94. The firm's 50 day moving average price is $63.25 and its 200 day moving average price is $57.22.

iRadimed Announces Dividend

The business 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 payout ratio is currently 41.98%.

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.