Oak Ridge Investments LLC Trims Position in iRadimed Corporation $IRMD

Oak Ridge Investments LLC cut its holdings in shares of iRadimed Corporation (NASDAQ:IRMD) by 4.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 39,795 shares of the medical equipment provider’s stock after selling 2,042 shares during the period. Oak Ridge Investments LLC owned 0.31% of iRadimed worth $2,379,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IRMD. SG Americas Securities LLC grew its stake in iRadimed by 8.8% in the first quarter. SG Americas Securities LLC now owns 7,177 shares of the medical equipment provider’s stock worth $377,000 after purchasing an additional 582 shares during the period. Prosperity Wealth Management Inc. purchased a new stake in iRadimed in the first quarter worth $346,000. Copeland Capital Management LLC grew its stake 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 purchasing an additional 14,981 shares during the period. First Horizon Advisors Inc. grew its stake in iRadimed by 78.7% in the first quarter. First Horizon Advisors Inc. now owns 513 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 226 shares during the period. Finally, Teacher Retirement System of Texas grew 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 worth $2,695,000 after purchasing an additional 1,072 shares during the period. 92.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of iRadimed in a research note on Wednesday. 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 price target of $72.00.

iRadimed Trading Down 5.0%

NASDAQ IRMD opened at $71.68 on Friday. iRadimed Corporation has a 12 month low of $46.86 and a 12 month high of $78.38. The stock has a market cap of $911.77 million, a P/E ratio of 44.25 and a beta of 1.02. The stock’s fifty day moving average price is $71.45 and its 200-day moving average price is $61.11.

iRadimed Announces Dividend

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

Insiders Place Their Bets

In other news, Director Monty K. Allen sold 1,102 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $69.10, for a total transaction of $76,148.20. Following the transaction, the director directly owned 19,898 shares of the company’s stock, valued at $1,374,951.80. This represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Roger E. Susi sold 5,000 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.72, for a total value of $358,600.00. Following the transaction, 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 disclosure for this sale can be found here. Over the last three months, insiders sold 21,102 shares of company stock worth $1,498,348. Insiders own 36.80% of the company’s stock.

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.