Sei Investments Co. Has $925,000 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 position in iRadimed Corporation (NASDAQ:IRMD - Free Report) by 38.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,624 shares of the medical equipment provider's stock after buying an additional 4,874 shares during the quarter. Sei Investments Co. owned approximately 0.14% of iRadimed worth $925,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of IRMD. First Horizon Advisors Inc. increased its position in shares of iRadimed by 78.7% during the 1st quarter. First Horizon Advisors Inc. now owns 513 shares of the medical equipment provider's stock worth $27,000 after purchasing an additional 226 shares in the last quarter. US Bancorp DE increased its position in shares of iRadimed by 132.7% during the 1st quarter. US Bancorp DE now owns 1,436 shares of the medical equipment provider's stock worth $75,000 after purchasing an additional 819 shares in the last quarter. State of Wyoming acquired a new stake in shares of iRadimed during the 4th quarter worth about $149,000. Sit Investment Associates Inc. acquired a new stake in shares of iRadimed during the 1st quarter worth about $181,000. Finally, Snowden Capital Advisors LLC acquired a new stake in shares of iRadimed during the 4th quarter worth about $229,000. 92.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

iRadimed Trading Up 1.5%

Shares of NASDAQ:IRMD traded up $1.06 during trading on Thursday, hitting $70.88. 5,039 shares of the company's stock were exchanged, compared to its average volume of 44,598. iRadimed Corporation has a 1-year low of $44.30 and a 1-year high of $73.47. The firm has a 50-day moving average price of $61.88 and a two-hundred day moving average price of $56.83. The firm has a market cap of $901.59 million, a P/E ratio of 43.75 and a beta of 0.94.

iRadimed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Monday, August 18th will be issued 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%.

Insider Transactions at iRadimed

In related 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 transaction, the director owned 19,898 shares in the company, valued at approximately $1,374,951.80. The trade was a 5.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.