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

iRadimed Corporation (NASDAQ:IRMD) CEO Roger Susi sold 5,000 shares of iRadimed stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of $74.82, for a total value of $374,100.00. Following the completion of the sale, the chief executive officer directly owned 2,332,500 shares in the company, valued at $174,517,650. This trade represents a 0.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

iRadimed Trading Up 0.5%

Shares of IRMD stock opened at $77.95 on Friday. iRadimed Corporation has a 12-month low of $46.86 and a 12-month high of $78.44. The stock’s 50-day moving average price is $72.25 and its 200-day moving average price is $62.47. The stock has a market capitalization of $991.52 million, a price-to-earnings ratio of 48.12 and a beta of 1.02.

iRadimed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Monday, August 18th were given a $0.17 dividend. The ex-dividend date was Monday, August 18th. This represents a $0.68 annualized dividend and a yield of 0.9%. iRadimed’s dividend payout ratio (DPR) is currently 41.98%.

Analysts Set New Price Targets

IRMD has been the subject of several recent research reports. Wall Street Zen upgraded iRadimed from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 18th. Weiss Ratings reiterated a “buy (b-)” rating on shares of iRadimed in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $72.00.

Institutional Trading of iRadimed

Large investors have recently modified their holdings of the company. Teacher Retirement System of Texas boosted its holdings in shares of 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. boosted its holdings in shares of iRadimed by 20.3% in the first quarter. Envestnet Asset Management Inc. now owns 70,473 shares of the medical equipment provider’s stock valued at $3,698,000 after purchasing an additional 11,892 shares during the period. Bank of New York Mellon Corp boosted its holdings 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 purchasing an additional 1,557 shares during the period. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 17,640 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of iRadimed in the first quarter valued at approximately $1,418,000. Hedge funds and other institutional investors own 92.34% of the company’s stock.

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.