iRadimed (NASDAQ:IRMD) CEO Roger Susi Sells 5,000 Shares

Key Points

• iRadimed Corporation's CEO, Roger Susi, sold 5,000 shares at an average price of $74.82, a transaction totaling $374,100, reducing his ownership by 0.21% to 2,332,500 shares.
• The company announced a quarterly dividend of $0.17, resulting in an annualized dividend of $0.68 and a yield of 0.9%, with a payout ratio of 41.98%.
• Wall Street analysts have forecasted growth for iRadimed, with ratings upgraded to "strong-buy" and an average target price of $72.00.

iRadimed Corporation (NASDAQ:IRMD - Get Free Report) CEO Roger Susi sold 5,000 shares of iRadimed stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $74.82, for a total transaction of $374,100.00. Following the completion of the sale, the chief executive officer directly owned 2,332,500 shares of the company's stock, valued at approximately $174,517,650. The trade was a 0.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

iRadimed Stock Performance

IRMD traded up $2.09 during mid-day trading on Wednesday, reaching $77.58. 83,265 shares of the stock were exchanged, compared to its average volume of 45,998. The company has a 50 day moving average price of $71.97 and a two-hundred day moving average price of $62.16. The stock has a market capitalization of $986.43 million, a PE ratio of 47.89 and a beta of 1.02. iRadimed Corporation has a 1 year low of $46.86 and a 1 year high of $78.38.

iRadimed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Monday, August 18th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Monday, August 18th. iRadimed's payout ratio is currently 41.98%.

Hedge Funds Weigh In On iRadimed

Institutional investors and hedge funds have recently modified their holdings of the stock. First Horizon Advisors Inc. increased its holdings 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 acquiring an additional 226 shares in the last quarter. CWM LLC increased its holdings in shares of iRadimed by 62.2% during the third quarter. CWM LLC now owns 550 shares of the medical equipment provider's stock valued at $39,000 after acquiring an additional 211 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of iRadimed by 191.1% during the second quarter. Tower Research Capital LLC TRC now owns 754 shares of the medical equipment provider's stock valued at $45,000 after acquiring an additional 495 shares in the last quarter. Spire Wealth Management bought a new position in shares of iRadimed during the second quarter valued at $60,000. Finally, US Bancorp DE increased its holdings in shares of iRadimed by 132.7% during the first quarter. US Bancorp DE now owns 1,436 shares of the medical equipment provider's stock valued at $75,000 after acquiring an additional 819 shares in the last quarter. 92.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IRMD. Wall Street Zen upgraded iRadimed from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of iRadimed in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, iRadimed has a consensus rating of "Buy" and an average target price of $72.00.

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.

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