iRadimed Corporation (NASDAQ:IRMD) Director Monty K. Allen Sells 1,102 Shares

Key Points

• iRadimed Corporation's Director Monty K. Allen sold 1,102 shares on August 6th for approximately $76,148.20, reducing his ownership by 5.25%.
• The company announced a quarterly dividend of $0.17 per share, with an annual yield of 1.0%, payable on August 28th.
• Analysts have upgraded iRadimed from a "buy" to a "strong-buy" rating, indicating increased investor confidence in the stock.

iRadimed Corporation (NASDAQ:IRMD - Get Free Report) Director Monty K. Allen sold 1,102 shares of the firm'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 $1,374,951.80. The trade was a 5.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

iRadimed Trading Up 1.1%

iRadimed stock traded up $0.75 during mid-day trading on Wednesday, reaching $70.32. The company's stock had a trading volume of 56,629 shares, compared to its average volume of 48,075. The firm has a market cap of $894.47 million, a price-to-earnings ratio of 43.41 and a beta of 0.94. iRadimed Corporation has a twelve month low of $43.17 and a twelve month high of $71.91. The business has a 50 day moving average price of $59.37 and a 200-day moving average price of $56.01.

iRadimed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Monday, August 18th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, August 18th. iRadimed's dividend payout ratio (DPR) is presently 41.98%.

Analysts Set New Price Targets

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.

Institutional Investors Weigh In On iRadimed

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jump Financial LLC raised its stake in shares of iRadimed by 4.9% during the first quarter. Jump Financial LLC now owns 4,300 shares of the medical equipment provider's stock valued at $226,000 after purchasing an additional 200 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of iRadimed by 4.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,577 shares of the medical equipment provider's stock valued at $252,000 after purchasing an additional 204 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of iRadimed by 78.7% during 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 in the last quarter. Martingale Asset Management L P raised its stake in shares of iRadimed by 2.4% during the first quarter. Martingale Asset Management L P now owns 12,831 shares of the medical equipment provider's stock valued at $673,000 after purchasing an additional 300 shares in the last quarter. Finally, State of Wyoming raised its stake in shares of iRadimed by 11.3% during the first quarter. State of Wyoming now owns 3,013 shares of the medical equipment provider's stock valued at $158,000 after purchasing an additional 307 shares in the last quarter. 92.34% of the stock is currently owned by institutional investors.

About iRadimed

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.