Granahan Investment Management LLC Cuts Stake in iRadimed Corporation $IRMD

Key Points

• Granahan Investment Management LLC reduced its stake in iRadimed Corporation by 32.3%, selling 4,086 shares, and now holds approximately 8,559 shares valued at $449,000.
• iRadimed recently announced a quarterly dividend of $0.17 per share, reflecting an annualized dividend of $0.68 with a yield of 0.9%.
• The company's stock price opened at $71.99 and has seen a twelve-month high of $74.00 and a low of $44.58.

Granahan Investment Management LLC trimmed its holdings in iRadimed Corporation (NASDAQ:IRMD - Free Report) by 32.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,559 shares of the medical equipment provider's stock after selling 4,086 shares during the quarter. Granahan Investment Management LLC owned about 0.07% of iRadimed worth $449,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of IRMD. First Horizon Advisors Inc. boosted its holdings in shares of 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 buying an additional 226 shares in the last quarter. US Bancorp DE increased its position in 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 buying an additional 819 shares during the period. Quantbot Technologies LP acquired a new position in iRadimed during the first quarter worth approximately $78,000. Comerica Bank boosted its holdings in shares of iRadimed by 21.4% in the first quarter. Comerica Bank now owns 2,288 shares of the medical equipment provider's stock valued at $120,000 after acquiring an additional 404 shares during the period. Finally, State of Wyoming acquired a new stake in shares of iRadimed in the fourth quarter valued at approximately $149,000. Institutional investors and hedge funds own 92.34% of the company's stock.

iRadimed Price Performance

Shares of IRMD stock traded up $2.04 during trading hours on Thursday, hitting $73.56. The stock had a trading volume of 15,802 shares, compared to its average volume of 44,132. The firm has a market capitalization of $935.67 million, a PE ratio of 45.35 and a beta of 1.02. iRadimed Corporation has a twelve month low of $46.70 and a twelve month high of $74.00. The stock's 50 day moving average is $65.63 and its 200 day moving average is $58.21.

iRadimed Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, August 18th. iRadimed's dividend payout ratio is presently 41.98%.

Insider Buying and Selling at iRadimed

In other news, Director Monty K. Allen sold 1,102 shares of the 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 completion of the sale, the director directly owned 19,898 shares of the company's stock, valued at approximately $1,374,951.80. This represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 36.80% of the company's stock.

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.