KLP Kapitalforvaltning AS Sells 5,200 Shares of iRadimed Corporation $IRMD

Key Points

• KLP Kapitalforvaltning AS has reduced its position in iRadimed Corporation by 31%, selling 5,200 shares to hold 11,600 shares worth approximately $694,000.
• iRadimed announced a quarterly dividend of $0.17 per share, with an annualized payout of $0.68, resulting in a 0.9% dividend yield.
• Analysts maintain a consensus rating of "Buy" for iRadimed, with an average target price of $72.00.

KLP Kapitalforvaltning AS reduced its position in iRadimed Corporation (NASDAQ:IRMD - Free Report) by 31.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,600 shares of the medical equipment provider's stock after selling 5,200 shares during the quarter. KLP Kapitalforvaltning AS owned about 0.09% of iRadimed worth $694,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. First Horizon Advisors Inc. grew 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 buying an additional 226 shares in the last quarter. US Bancorp DE lifted its holdings in iRadimed by 132.7% in the 1st 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 purchased a new stake in iRadimed in the 1st quarter worth approximately $78,000. Comerica Bank increased its position in iRadimed by 21.4% during the 1st quarter. Comerica Bank now owns 2,288 shares of the medical equipment provider's stock valued at $120,000 after purchasing an additional 404 shares during the period. Finally, State of Wyoming lifted its holdings in iRadimed by 11.3% in the first quarter. State of Wyoming now owns 3,013 shares of the medical equipment provider's stock worth $158,000 after buying an additional 307 shares during the period. Institutional investors own 92.34% of the company's stock.

iRadimed Price Performance

Shares of IRMD opened at $76.05 on Friday. The business has a fifty day moving average of $71.75 and a 200 day moving average of $61.63. iRadimed Corporation has a one year low of $46.86 and a one year high of $78.38. The firm has a market capitalization of $967.36 million, a P/E ratio of 46.94 and a beta of 1.02.

iRadimed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Monday, August 18th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.9%. iRadimed's payout ratio is presently 41.98%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of iRadimed in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, iRadimed has a consensus rating of "Buy" and an average target price of $72.00.

Insider Activity

In other news, Director Monty K. Allen sold 1,102 shares of the firm's stock in a transaction dated 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 owned 19,898 shares of the company's stock, valued at $1,374,951.80. This trade represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Roger E. Susi sold 5,000 shares of the company's stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $72.59, for a total transaction of $362,950.00. Following the completion of the transaction, the chief executive officer owned 2,337,500 shares of the company's stock, valued at approximately $169,679,125. The trade was a 0.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,102 shares of company stock worth $1,861,298 in the last ninety days. Corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.