Nuveen LLC Makes New $1.42 Million Investment in iRadimed Corporation $IRMD

Key Points

• Nuveen LLC acquired a new stake in iRadimed Corporation, purchasing 27,015 shares valued at approximately $1.4 million, which represents 0.21% ownership of the company.
• iRadimed recently declared a $0.17 quarterly dividend, resulting in an annualized dividend yield of 0.9% and a payout ratio of 41.98%.
• Wall Street analysts have upgraded iRadimed from a "buy" to a "strong-buy" rating, with an average target price set at $72.00.

Nuveen LLC bought a new stake in iRadimed Corporation (NASDAQ:IRMD - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 27,015 shares of the medical equipment provider's stock, valued at approximately $1,418,000. Nuveen LLC owned 0.21% of iRadimed as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of IRMD. First Horizon Advisors Inc. grew its holdings in iRadimed by 78.7% in the first quarter. First Horizon Advisors Inc. now owns 513 shares of the medical equipment provider's stock valued at $27,000 after purchasing an additional 226 shares during the period. US Bancorp DE grew its holdings in iRadimed by 132.7% in the first quarter. US Bancorp DE now owns 1,436 shares of the medical equipment provider's stock valued at $75,000 after purchasing an additional 819 shares during the period. State of Wyoming purchased a new stake in iRadimed in the fourth quarter valued at approximately $149,000. Snowden Capital Advisors LLC purchased a new stake in iRadimed in the fourth quarter valued at approximately $229,000. Finally, Avantax Advisory Services Inc. grew its holdings in iRadimed by 15.2% in the first quarter. Avantax Advisory Services Inc. now owns 4,546 shares of the medical equipment provider's stock valued at $239,000 after purchasing an additional 599 shares during the period. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

iRadimed Stock Performance

iRadimed stock traded down $0.15 during trading on Friday, reaching $71.99. The company had a trading volume of 22,289 shares, compared to its average volume of 45,894. iRadimed Corporation has a 12-month low of $44.58 and a 12-month high of $74.00. The stock's 50 day moving average price is $64.97 and its two-hundred day moving average price is $57.90. The firm has a market capitalization of $915.71 million, a price-to-earnings ratio of 44.44 and a beta of 1.02.

iRadimed Dividend Announcement

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

Insider Transactions at iRadimed

In other iRadimed news, Director Monty K. Allen sold 1,102 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $69.10, for a total transaction 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. The trade was 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. 36.80% of the stock is currently owned by corporate insiders.

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.