iRadimed Corporation $IRMD Shares Sold by Rhumbline Advisers

Key Points

• Rhumbline Advisers has reduced its stake in iRadimed Corporation by 28.8%, selling 5,549 shares to hold 13,703 shares valued at $719,000.
• During the first quarter, other institutional investors also increased their positions in iRadimed, including First Horizon Advisors, which raised its stake by 78.7%.
• iRadimed recently declared a quarterly dividend of $0.17 per share, translating to an annual yield of 1.0% and a payout ratio of 41.98%.

Rhumbline Advisers cut its holdings in iRadimed Corporation (NASDAQ:IRMD - Free Report) by 28.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,703 shares of the medical equipment provider's stock after selling 5,549 shares during the quarter. Rhumbline Advisers owned 0.11% of iRadimed worth $719,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in IRMD. Strs Ohio bought a new position in shares of iRadimed during the 1st quarter valued at approximately $530,000. Ellsworth Advisors LLC purchased a new stake in shares of iRadimed during the first quarter valued at $629,000. Acadian Asset Management LLC lifted its holdings in iRadimed by 10.9% during the 1st quarter. Acadian Asset Management LLC now owns 156,319 shares of the medical equipment provider's stock valued at $8,197,000 after buying an additional 15,329 shares in the last quarter. Jane Street Group LLC bought a new position in shares of iRadimed during the 1st quarter worth $369,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of iRadimed by 1.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 169,387 shares of the medical equipment provider's stock worth $8,889,000 after purchasing an additional 1,821 shares during the last quarter. 92.34% of the stock is currently owned by institutional investors.

iRadimed Price Performance

iRadimed stock traded up $0.19 during midday trading on Monday, reaching $70.71. The company's stock had a trading volume of 56,480 shares, compared to its average volume of 42,599. iRadimed Corporation has a 52-week low of $46.86 and a 52-week high of $74.43. The stock has a market capitalization of $899.43 million, a P/E ratio of 43.65 and a beta of 1.01. The stock's 50-day simple moving average is $67.56 and its 200-day simple moving average is $59.28.

iRadimed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Monday, August 18th were given a $0.17 dividend. The ex-dividend date was Monday, August 18th. This represents a $0.68 dividend on an annualized basis and a yield of 1.0%. iRadimed's payout ratio is currently 41.98%.

Insider Activity

In other iRadimed news, Director Monty K. Allen sold 1,102 shares of the company's 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 sale, the director owned 19,898 shares in the company, valued at $1,374,951.80. This represents a 5.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Roger E. Susi sold 5,000 shares of the company's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $71.27, for a total transaction of $356,350.00. Following the completion of the transaction, the chief executive officer owned 2,357,500 shares of the company's stock, valued at $168,019,025. This represents a 0.21% decrease in their position. The disclosure for this sale can be found here. Insiders own 36.80% of the company's stock.

iRadimed 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.