AlphaQuest LLC Reduces Holdings in iRadimed Corporation $IRMD

AlphaQuest LLC lowered its position in shares of iRadimed Corporation (NASDAQ:IRMD) by 58.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,008 shares of the medical equipment provider’s stock after selling 4,230 shares during the period. AlphaQuest LLC’s holdings in iRadimed were worth $180,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. raised its stake in shares of iRadimed by 78.7% during the first quarter. First Horizon Advisors Inc. now owns 513 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 226 shares during the period. US Bancorp DE grew its position 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 worth $75,000 after buying an additional 819 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of iRadimed during the first quarter worth approximately $78,000. Comerica Bank grew its position in shares of 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 buying an additional 404 shares in the last quarter. Finally, State of Wyoming grew its position in shares of iRadimed by 11.3% during the first quarter. State of Wyoming now owns 3,013 shares of the medical equipment provider’s stock worth $158,000 after buying an additional 307 shares in the last quarter. Hedge funds and other institutional investors own 92.34% of the company’s stock.

Insiders Place Their Bets

In other iRadimed news, Director Monty K. Allen sold 1,102 shares of iRadimed stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $69.10, for a total value of $76,148.20. Following the completion of the transaction, the director owned 19,898 shares of the company’s stock, valued at $1,374,951.80. The trade was a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Roger E. Susi sold 5,000 shares of iRadimed stock in a transaction on Monday, October 27th. The stock was sold at an average price of $77.69, for a total transaction of $388,450.00. Following the completion of the transaction, the chief executive officer directly owned 2,327,500 shares of the company’s stock, valued at approximately $180,823,475. This represents a 0.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 36,102 shares of company stock valued at $2,623,848. 36.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on IRMD shares. Roth Capital set a $90.00 price target on shares of iRadimed in a research report on Friday. Lake Street Capital reaffirmed a “buy” rating and set a $100.00 price target on shares of iRadimed in a research report on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of iRadimed in a research report on Friday. Finally, Wall Street Zen cut shares of iRadimed from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 26th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $87.33.

iRadimed Price Performance

iRadimed stock opened at $84.11 on Tuesday. The company has a market cap of $1.07 billion, a PE ratio of 51.92 and a beta of 1.02. The company has a fifty day moving average price of $73.39 and a two-hundred day moving average price of $64.07. iRadimed Corporation has a 12 month low of $47.48 and a 12 month high of $85.00.

iRadimed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Friday, November 14th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, November 14th. iRadimed’s payout ratio is currently 41.98%.

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.