Insider Selling: iRadimed (NASDAQ:IRMD) CEO Sells 5,000 Shares of Stock

iRadimed Corporation (NASDAQ:IRMD) CEO Roger Susi sold 5,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $70.19, for a total value of $350,950.00. Following the completion of the transaction, the chief executive officer directly owned 2,347,500 shares of the company’s stock, valued at approximately $164,771,025. The trade was a 0.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

iRadimed Trading Up 0.2%

Shares of IRMD opened at $71.24 on Friday. iRadimed Corporation has a 1 year low of $46.86 and a 1 year high of $74.43. The stock has a 50 day simple moving average of $70.00 and a 200-day simple moving average of $60.37. The stock has a market cap of $906.17 million, a PE ratio of 43.98 and a beta of 1.02.

iRadimed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Monday, August 18th were given a dividend of $0.17 per share. The ex-dividend date was Monday, August 18th. This represents a $0.68 dividend on an annualized basis and a yield of 1.0%. iRadimed’s dividend payout ratio is 41.98%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of iRadimed in a research report on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $72.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IRMD. Roubaix Capital LLC bought a new position in shares of iRadimed in the 1st quarter worth $2,526,000. SG Americas Securities LLC boosted its position in shares of iRadimed by 408.8% in the 2nd quarter. SG Americas Securities LLC now owns 36,516 shares of the medical equipment provider’s stock worth $2,183,000 after purchasing an additional 29,339 shares during the last quarter. Nuveen LLC bought a new position in shares of iRadimed in the 1st quarter worth $1,418,000. Johnson Investment Counsel Inc. bought a new position in shares of iRadimed in the 2nd quarter worth $1,534,000. Finally, Vanguard Group Inc. boosted its position in shares of iRadimed by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 554,451 shares of the medical equipment provider’s stock worth $29,098,000 after purchasing an additional 17,640 shares during the last quarter. 92.34% of the stock is currently owned by institutional investors.

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.