Insider Buying: iRadimed Corp. (IRMD) CEO Purchases 5,000 Shares of Stock
iRadimed Corp. (NASDAQ:IRMD) CEO Roger E. Susi bought 5,000 shares of iRadimed Corp. stock in a transaction dated Tuesday, November 15th. The stock was acquired at an average cost of $10.46 per share, for a total transaction of $52,300.00. Following the completion of the acquisition, the chief executive officer now directly owns 5,000 shares in the company, valued at $52,300. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
iRadimed Corp. (NASDAQ:IRMD) traded up 2.82% on Wednesday, reaching $10.95. The company’s stock had a trading volume of 69,751 shares. The firm’s 50 day moving average is $10.84 and its 200-day moving average is $16.75. The firm has a market cap of $117.29 million, a P/E ratio of 16.15 and a beta of 1.66. iRadimed Corp. has a 12 month low of $8.95 and a 12 month high of $33.18.
iRadimed Corp. (NASDAQ:IRMD) last issued its quarterly earnings data on Friday, October 28th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.03. The firm earned $7.70 million during the quarter, compared to the consensus estimate of $7.50 million. iRadimed Corp. had a net margin of 24.02% and a return on equity of 28.25%. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the business posted $0.19 earnings per share. On average, equities research analysts anticipate that iRadimed Corp. will post $0.63 EPS for the current year.
Large investors have recently modified their holdings of the company. Grandeur Peak Global Advisors LLC bought a new stake in shares of iRadimed Corp. during the third quarter valued at about $1,817,000. Morgan Stanley increased its stake in shares of iRadimed Corp. by 37.0% in the third quarter. Morgan Stanley now owns 18,814 shares of the company’s stock valued at $319,000 after buying an additional 5,082 shares during the period. Spark Investment Management LLC increased its stake in shares of iRadimed Corp. by 102.9% in the third quarter. Spark Investment Management LLC now owns 71,000 shares of the company’s stock valued at $1,206,000 after buying an additional 36,000 shares during the period. Ameriprise Financial Inc. increased its stake in shares of iRadimed Corp. by 9.0% in the third quarter. Ameriprise Financial Inc. now owns 65,200 shares of the company’s stock valued at $1,108,000 after buying an additional 5,370 shares during the period. Finally, Wasatch Advisors Inc. increased its stake in shares of iRadimed Corp. by 15.5% in the third quarter. Wasatch Advisors Inc. now owns 97,000 shares of the company’s stock valued at $1,648,000 after buying an additional 13,000 shares during the period. Hedge funds and other institutional investors own 24.28% of the company’s stock.
Several research analysts have recently commented on IRMD shares. Roth Capital downgraded iRadimed Corp. from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $28.00 to $11.50 in a report on Wednesday, October 5th. Zacks Investment Research downgraded iRadimed Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, October 11th.
iRadimed Corp. Company Profile
IRADIMED CORPORATION (IRADIMED) develops, manufactures, markets and distributes Magnetic Resonance Imaging (MRI) compatible products, and provides non-magnetic intravenous (IV) infusion pump systems. The Company operates through development, manufacture and sale of MRI compatible products and IV infusion pump systems for use by hospitals and acute care facilities during MRI procedures segment.
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