Voleon Capital Management LP Cuts Stake in iRadimed Corporation $IRMD

Key Points

• Voleon Capital Management LP reduced its stakes in iRadimed Corporation by 37.8%, holding 9,095 shares valued at $477,000, as revealed in its recent SEC filing.
• iRadimed's stock recently increased by 0.1%, with a market cap of $914.44 million and a price-to-earnings ratio of 44.38.
• The company announced a quarterly dividend of $0.17, resulting in a 0.9% dividend yield, with a payout ratio of 41.98%.

Voleon Capital Management LP trimmed its position in iRadimed Corporation (NASDAQ:IRMD - Free Report) by 37.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,095 shares of the medical equipment provider's stock after selling 5,521 shares during the quarter. Voleon Capital Management LP owned about 0.07% of iRadimed worth $477,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Teacher Retirement System of Texas boosted its holdings in iRadimed by 2.1% in the 1st quarter. Teacher Retirement System of Texas now owns 51,359 shares of the medical equipment provider's stock valued at $2,695,000 after purchasing an additional 1,072 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of iRadimed by 20.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 70,473 shares of the medical equipment provider's stock valued at $3,698,000 after acquiring an additional 11,892 shares during the period. Bank of America Corp DE raised its stake in shares of iRadimed by 8.1% in the 4th quarter. Bank of America Corp DE now owns 25,971 shares of the medical equipment provider's stock valued at $1,428,000 after acquiring an additional 1,949 shares during the period. Northern Trust Corp raised its stake in shares of iRadimed by 7.3% in the 4th quarter. Northern Trust Corp now owns 143,069 shares of the medical equipment provider's stock valued at $7,869,000 after acquiring an additional 9,722 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of iRadimed by 4.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,577 shares of the medical equipment provider's stock valued at $252,000 after acquiring an additional 204 shares during the period. 92.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 value of $76,148.20. Following the sale, the director directly owned 19,898 shares of the company's stock, valued at approximately $1,374,951.80. The trade was a 5.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 36.80% of the company's stock.

iRadimed Stock Performance

Shares of iRadimed stock traded down $3.00 on Friday, reaching $71.27. The company had a trading volume of 39,307 shares, compared to its average volume of 39,449. The firm's 50 day moving average price is $66.07 and its two-hundred day moving average price is $58.46. The firm has a market cap of $906.55 million, a PE ratio of 43.99 and a beta of 1.02. iRadimed Corporation has a 52-week low of $46.86 and a 52-week high of $74.43.

iRadimed Dividend Announcement

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

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.