iRadimed Corporation $IRMD Stake Cut by Liontrust Investment Partners LLP

Key Points

• Liontrust Investment Partners LLP reduced its holdings in iRadimed Corporation by 41.6%, now owning 40,421 shares valued at $2.12 million.
• iRadimed recently announced a quarterly dividend of $0.17, reflecting an annualized yield of 1.0%, with the ex-dividend date set for August 18th.
• Wall Street Zen upgraded iRadimed's rating from "buy" to "strong-buy" in a recent research report.

Liontrust Investment Partners LLP trimmed its holdings in shares of iRadimed Corporation (NASDAQ:IRMD - Free Report) by 41.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,421 shares of the medical equipment provider's stock after selling 28,783 shares during the period. Liontrust Investment Partners LLP owned about 0.32% of iRadimed worth $2,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Sei Investments Co. lifted its holdings in shares of iRadimed by 38.2% during the 1st quarter. Sei Investments Co. now owns 17,624 shares of the medical equipment provider's stock valued at $925,000 after purchasing an additional 4,874 shares during the last quarter. Sit Investment Associates Inc. purchased a new stake in iRadimed in the first quarter valued at about $181,000. HighTower Advisors LLC raised its position in shares of iRadimed by 0.6% in the 1st 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. Nuveen LLC acquired a new position in iRadimed during the 1st quarter valued at approximately $1,418,000. Finally, Vanguard Group Inc. raised its holdings in shares of iRadimed by 3.3% in the first quarter. Vanguard Group Inc. now owns 554,451 shares of the medical equipment provider's stock worth $29,098,000 after buying an additional 17,640 shares during the last quarter. 92.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Monty K. Allen sold 1,102 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $69.10, for a total transaction of $76,148.20. Following the transaction, the director directly owned 19,898 shares in the company, 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 filing with the SEC, which can be accessed through this hyperlink. 36.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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 data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $72.00.

iRadimed Stock Performance

IRMD traded up $1.06 during trading on Thursday, hitting $70.88. The stock had a trading volume of 5,039 shares, compared to its average volume of 44,598. The company's 50-day moving average price is $61.88 and its 200 day moving average price is $56.83. iRadimed Corporation has a twelve month low of $44.30 and a twelve month high of $73.47. The firm has a market capitalization of $901.59 million, a P/E ratio of 43.75 and a beta of 0.94.

iRadimed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Monday, August 18th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, August 18th. iRadimed's dividend payout ratio is currently 41.98%.

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.