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

Key Points

• CEO Roger Susi sold 5,000 shares of iRadimed at an average price of $72.59, totaling approximately $362,950, which slightly decreased his ownership to 2,337,500 shares.
• iRadimed's stock rose by 1.1% to $73.24 after trading, with a market capitalization of $931.61 million and a P/E ratio of 45.21.
• The company recently announced a quarterly dividend of $0.17, resulting in 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 on Monday, October 13th. The shares were sold at an average price of $72.59, for a total value of $362,950.00. Following the transaction, the chief executive officer directly owned 2,337,500 shares in the company, valued at $169,679,125. The trade was a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

iRadimed Stock Up 1.1%

IRMD stock traded up $0.83 during trading on Tuesday, reaching $73.24. The company's stock had a trading volume of 34,778 shares, compared to its average volume of 45,924. iRadimed Corporation has a 1 year low of $46.86 and a 1 year high of $78.38. The company has a market capitalization of $931.61 million, a P/E ratio of 45.21 and a beta of 1.02. The company's fifty day moving average is $71.48 and its 200-day moving average is $61.30.

iRadimed Dividend Announcement

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

Institutional Investors Weigh In On iRadimed

Hedge funds and other institutional investors have recently modified their holdings of the company. Teacher Retirement System of Texas increased its stake in iRadimed by 2.1% in the first 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 period. Envestnet Asset Management Inc. raised its position in iRadimed by 20.3% during the first quarter. Envestnet Asset Management Inc. now owns 70,473 shares of the medical equipment provider's stock worth $3,698,000 after acquiring an additional 11,892 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of iRadimed by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 101,665 shares of the medical equipment provider's stock valued at $5,335,000 after buying an additional 1,557 shares during the last quarter. Vanguard Group Inc. raised its position in shares of iRadimed by 3.3% in the first quarter. Vanguard Group Inc. now owns 554,451 shares of the medical equipment provider's stock valued at $29,098,000 after buying an additional 17,640 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in iRadimed in the first quarter valued at approximately $1,418,000. 92.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "buy (b-)" rating on shares of iRadimed in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, 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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