Sei Investments Co. Has $925,000 Stock Position in iRadimed Corporation $IRMD

Key Points

• Sei Investments Co. has increased its holdings in iRadimed Corporation by 38.2%, acquiring an additional 4,874 shares for a total of 17,624 shares valued at $925,000.
• iRadimed Corporation's market capitalization stands at $895.23 million, with the stock recently trading at around $70.38.
• The company is set to pay a quarterly dividend of $0.17 on August 28th, with an ex-dividend date of August 18th.

Sei Investments Co. boosted its stake in iRadimed Corporation (NASDAQ:IRMD - Free Report) by 38.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,624 shares of the medical equipment provider's stock after purchasing an additional 4,874 shares during the quarter. Sei Investments Co. owned about 0.14% of iRadimed worth $925,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new position in iRadimed during the fourth quarter valued at approximately $2,319,000. Geode Capital Management LLC grew its position in iRadimed by 17.9% in the 4th quarter. Geode Capital Management LLC now owns 222,772 shares of the medical equipment provider's stock valued at $12,255,000 after buying an additional 33,879 shares in the last quarter. Uniplan Investment Counsel Inc. bought a new position in iRadimed in the 4th quarter valued at about $1,790,000. Nuveen LLC acquired a new stake in iRadimed in the 1st quarter valued at about $1,418,000. Finally, Vanguard Group Inc. lifted its holdings in iRadimed by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 554,451 shares of the medical equipment provider's stock valued at $29,098,000 after acquiring an additional 17,640 shares during the last quarter. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other iRadimed news, Director Monty K. Allen sold 1,102 shares of iRadimed stock in a transaction 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 sale, the director 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 at this link. 36.80% of the stock is owned by corporate insiders.

iRadimed Stock Down 0.6%

IRMD traded down $0.3850 during trading on Wednesday, reaching $69.6150. 14,880 shares of the company's stock were exchanged, compared to its average volume of 44,684. iRadimed Corporation has a fifty-two week low of $43.71 and a fifty-two week high of $73.47. The business has a 50 day moving average price of $61.69 and a 200 day moving average price of $56.74. The company has a market capitalization of $885.50 million, a P/E ratio of 42.97 and a beta of 0.94.

iRadimed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Monday, August 18th will be paid a dividend of $0.17 per share. The ex-dividend date is 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%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of iRadimed from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, iRadimed presently has an average rating of "Buy" and a consensus target price of $72.00.

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.