AlphaQuest LLC Boosts Stake in iRadimed Corporation $IRMD

Key Points

• AlphaQuest LLC increased its holdings in iRadimed Corporation by 119.2%, acquiring an additional 3,936 shares to reach a total of 7,238 shares valued at approximately $380,000.
• iRadimed announced a quarterly dividend of $0.17 per share, with a dividend yield of 0.9%, reinforcing its commitment to returning value to shareholders.
• Analysts have upgraded iRadimed's stock rating from "buy" to "strong-buy", reflecting positive growth forecasts and a consensus price target of $72.00.

AlphaQuest LLC lifted its position in shares of iRadimed Corporation (NASDAQ:IRMD - Free Report) by 119.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,238 shares of the medical equipment provider's stock after purchasing an additional 3,936 shares during the quarter. AlphaQuest LLC owned about 0.06% of iRadimed worth $380,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of iRadimed by 4.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,577 shares of the medical equipment provider's stock worth $252,000 after purchasing an additional 204 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of iRadimed by 78.7% in the first quarter. First Horizon Advisors Inc. now owns 513 shares of the medical equipment provider's stock worth $27,000 after buying an additional 226 shares during the last quarter. Martingale Asset Management L P increased its holdings in iRadimed by 2.4% during the first quarter. Martingale Asset Management L P now owns 12,831 shares of the medical equipment provider's stock valued at $673,000 after buying an additional 300 shares during the last quarter. Albert D Mason Inc. boosted its stake in shares of iRadimed by 2.0% during the 1st quarter. Albert D Mason Inc. now owns 17,269 shares of the medical equipment provider's stock worth $906,000 after acquiring an additional 333 shares during the last quarter. Finally, HighTower Advisors LLC grew its position in shares of iRadimed by 0.6% during the 1st quarter. HighTower Advisors LLC now owns 60,361 shares of the medical equipment provider's stock valued at $3,168,000 after acquiring an additional 361 shares during the period. Hedge funds and other institutional investors own 92.34% of the company's stock.

Wall Street Analysts Forecast Growth

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

iRadimed Trading Down 1.1%

iRadimed stock traded down $0.81 during mid-day trading on Tuesday, hitting $71.63. The stock had a trading volume of 26,659 shares, compared to its average volume of 50,881. The firm's 50 day moving average is $64.31 and its 200 day moving average is $57.59. The firm has a market capitalization of $911.13 million, a P/E ratio of 44.22 and a beta of 1.02. iRadimed Corporation has a one year low of $44.58 and a one year high of $74.00.

iRadimed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Monday, August 18th were given a dividend of $0.17 per share. The ex-dividend date was 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%.

Insider Transactions at iRadimed

In related news, Director Monty K. Allen sold 1,102 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $69.10, for a total value of $76,148.20. Following the transaction, the director directly owned 19,898 shares of the company's stock, valued at approximately $1,374,951.80. The trade was a 5.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 36.80% of the company's stock.

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.