iRadimed Corporation $IRMD Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its stake in iRadimed Corporation (NASDAQ:IRMD) by 33.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,649 shares of the medical equipment provider’s stock after selling 11,361 shares during the period. Los Angeles Capital Management LLC’s holdings in iRadimed were worth $1,354,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IRMD. Spire Wealth Management acquired a new stake in shares of iRadimed in the 2nd quarter worth approximately $60,000. US Bancorp DE increased its stake in shares of iRadimed by 132.7% during the first quarter. US Bancorp DE now owns 1,436 shares of the medical equipment provider’s stock valued at $75,000 after acquiring an additional 819 shares during the period. Quantbot Technologies LP bought a new stake in iRadimed during the first quarter worth approximately $78,000. Comerica Bank raised its holdings in iRadimed by 21.4% during the first quarter. Comerica Bank now owns 2,288 shares of the medical equipment provider’s stock worth $120,000 after purchasing an additional 404 shares in the last quarter. Finally, State of Wyoming raised its position in iRadimed by 11.3% in the first quarter. State of Wyoming now owns 3,013 shares of the medical equipment provider’s stock worth $158,000 after acquiring an additional 307 shares in the last quarter. 92.34% of the stock is currently owned by institutional investors.

iRadimed Trading Up 2.1%

NASDAQ IRMD opened at $86.43 on Thursday. iRadimed Corporation has a 1 year low of $47.48 and a 1 year high of $87.88. The company has a market cap of $1.10 billion, a PE ratio of 53.35 and a beta of 1.04. The stock’s 50-day moving average price is $75.21 and its two-hundred day moving average price is $65.60.

iRadimed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, November 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.8%. iRadimed’s payout ratio is currently 41.21%.

Insider Activity at iRadimed

In related news, CEO Roger E. Susi sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $82.64, for a total value of $413,200.00. Following the completion of the transaction, the chief executive officer owned 2,322,500 shares of the company’s stock, valued at approximately $191,931,400. This trade represents a 0.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 40,000 shares of company stock valued at $2,960,900. 36.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

IRMD has been the subject of several research reports. Zacks Research upgraded shares of iRadimed to a “hold” rating in a research report on Tuesday, November 4th. Roth Capital set a $90.00 target price on shares of iRadimed in a research note on Friday, October 31st. Wall Street Zen cut shares of iRadimed from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 26th. Weiss Ratings restated a “buy (b)” rating on shares of iRadimed in a research report on Friday, October 31st. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $100.00 price target on shares of iRadimed in a report on Monday, November 3rd. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, iRadimed presently has an average rating of “Moderate Buy” and a consensus price target of $87.33.

iRadimed 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.