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

Key Points

• Roger Susi, CEO of iRadimed, sold 5,000 shares of the company for a total of $358,600, resulting in a 0.21% decrease in his ownership, leaving him with approximately 2.34 million shares valued at about $168 million.
• iRadimed's stock price experienced a 3.6% increase, reaching $74.37, with a market cap of $945.61 million and a P/E ratio of 45.91.
• The company declared a quarterly dividend of $0.17 per share, representing an annualized yield of 0.9%, with a dividend payout ratio of 41.98%.

iRadimed Corporation (NASDAQ:IRMD - Get Free Report) CEO Roger Susi sold 5,000 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.72, for a total transaction of $358,600.00. Following the completion of the sale, the chief executive officer directly owned 2,342,500 shares in the company, valued at approximately $168,004,100. The trade was a 0.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

iRadimed Stock Up 3.6%

Shares of NASDAQ:IRMD traded up $2.61 during trading on Tuesday, reaching $74.37. The stock had a trading volume of 76,531 shares, compared to its average volume of 45,358. The business has a fifty day moving average price of $70.29 and a 200-day moving average price of $60.56. The stock has a market cap of $945.61 million, a P/E ratio of 45.91 and a beta of 1.02. iRadimed Corporation has a fifty-two week low of $46.86 and a fifty-two week high of $75.14.

iRadimed Announces Dividend

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

Institutional Trading of iRadimed

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in iRadimed by 3.3% in the first quarter. Vanguard Group Inc. now owns 554,451 shares of the medical equipment provider's stock worth $29,098,000 after purchasing an additional 17,640 shares during the period. Copeland Capital Management LLC raised its position in iRadimed by 3.2% in the first quarter. Copeland Capital Management LLC now owns 490,544 shares of the medical equipment provider's stock worth $25,744,000 after acquiring an additional 14,981 shares in the last quarter. Geode Capital Management LLC lifted its holdings in iRadimed by 6.5% in the 2nd quarter. Geode Capital Management LLC now owns 261,386 shares of the medical equipment provider's stock valued at $15,630,000 after acquiring an additional 15,996 shares during the last quarter. Ranger Investment Management L.P. boosted its position in shares of iRadimed by 7.4% during the 2nd quarter. Ranger Investment Management L.P. now owns 214,840 shares of the medical equipment provider's stock valued at $12,845,000 after purchasing an additional 14,730 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of iRadimed by 1.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 169,387 shares of the medical equipment provider's stock worth $8,889,000 after purchasing an additional 1,821 shares during the last quarter. 92.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "buy (b-)" rating on shares of iRadimed in a report on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target 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.

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