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

iRadimed Corporation (NASDAQ:IRMD) CEO Roger Susi sold 5,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $82.64, for a total transaction of $413,200.00. Following the transaction, the chief executive officer owned 2,322,500 shares in the company, valued at $191,931,400. 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 3.1%

NASDAQ:IRMD traded up $2.63 during mid-day trading on Tuesday, hitting $86.74. 230,777 shares of the stock traded hands, compared to its average volume of 48,422. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 53.54 and a beta of 1.02. The firm’s 50 day moving average is $73.39 and its two-hundred day moving average is $64.07. iRadimed Corporation has a 52 week low of $47.48 and a 52 week high of $87.88.

iRadimed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Friday, November 14th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, November 14th. iRadimed’s dividend payout ratio is currently 41.98%.

Hedge Funds Weigh In On iRadimed

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State of Wyoming purchased a new stake in iRadimed during the third quarter valued at approximately $72,000. Principal Financial Group Inc. purchased a new stake in iRadimed during the third quarter valued at approximately $422,000. Summit Global Investments lifted its position in iRadimed by 2.7% during the third quarter. Summit Global Investments now owns 7,139 shares of the medical equipment provider’s stock valued at $508,000 after acquiring an additional 188 shares during the last quarter. Riverwater Partners LLC purchased a new stake in iRadimed during the third quarter valued at approximately $218,000. Finally, State of Alaska Department of Revenue purchased a new stake in iRadimed during the third quarter valued at approximately $47,000. 92.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IRMD has been the topic of a number of research analyst reports. Lake Street Capital restated a “buy” rating and issued a $100.00 target price on shares of iRadimed in a research note on Monday. Weiss Ratings restated a “buy (b)” rating on shares of iRadimed in a research note on Friday. Roth Capital set a $90.00 target price on shares of iRadimed in a research note on Friday. Finally, Wall Street Zen downgraded shares of iRadimed from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 26th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $87.33.

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.