Roger E. Susi Sells 10,000 Shares of IRadimed Co. (NASDAQ:IRMD) Stock

IRadimed Co. (NASDAQ:IRMD – Get Rating) CEO Roger E. Susi sold 10,000 shares of the company’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $37.81, for a total value of $378,100.00. Following the completion of the transaction, the chief executive officer now owns 572,950 shares in the company, valued at $21,663,239.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

IRadimed Trading Up 1.7 %

Shares of IRadimed stock opened at $38.64 on Friday. The firm has a market capitalization of $486.48 million, a PE ratio of 37.88 and a beta of 1.03. The business’s 50-day moving average price is $36.28 and its 200-day moving average price is $31.83. IRadimed Co. has a 12 month low of $26.00 and a 12 month high of $55.92.

IRadimed (NASDAQ:IRMD – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The medical equipment provider reported $0.29 EPS for the quarter, meeting the consensus estimate of $0.29. The firm had revenue of $14.86 million for the quarter, compared to analyst estimates of $14.93 million. IRadimed had a return on equity of 18.81% and a net margin of 23.99%. As a group, analysts predict that IRadimed Co. will post 1.17 earnings per share for the current fiscal year.

IRadimed Increases Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, February 21st. Stockholders of record on Monday, February 13th were given a dividend of $1.05 per share. The ex-dividend date was Friday, February 10th. This is a positive change from IRadimed’s previous dividend of $1.00. This represents a dividend yield of 2.54%.

Hedge Funds Weigh In On IRadimed

Several institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its position in IRadimed by 51.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,131 shares of the medical equipment provider’s stock worth $34,000 after acquiring an additional 384 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in IRadimed by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,349 shares of the medical equipment provider’s stock worth $547,000 after acquiring an additional 484 shares during the last quarter. Alliancebernstein L.P. grew its position in IRadimed by 4.7% during the 4th quarter. Alliancebernstein L.P. now owns 13,300 shares of the medical equipment provider’s stock worth $376,000 after acquiring an additional 600 shares during the last quarter. Cim LLC grew its position in IRadimed by 7.6% during the 3rd quarter. Cim LLC now owns 9,054 shares of the medical equipment provider’s stock worth $251,000 after acquiring an additional 638 shares during the last quarter. Finally, Rhumbline Advisers grew its position in IRadimed by 14.4% during the 1st quarter. Rhumbline Advisers now owns 5,925 shares of the medical equipment provider’s stock worth $266,000 after acquiring an additional 747 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on IRMD. MKM Partners upped their target price on IRadimed from $46.00 to $48.00 in a research note on Monday, February 6th. StockNews.com initiated coverage on IRadimed in a research note on Thursday. They issued a “buy” rating on the stock.

IRadimed Company Profile

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IRadimed Corp. engages in the development, manufacture, marketing, and distribution of Magnetic Resonance Imaging (MRI) compatible medical devices. It also provides non-magnetic Intravenous (IV) 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.