IRadimed Co. (NASDAQ:IRMD) CEO Sells $378,100.00 in Stock

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

IRadimed Price Performance

Shares of IRadimed stock opened at $37.76 on Friday. IRadimed Co. has a fifty-two week low of $26.00 and a fifty-two week high of $55.92. The firm has a fifty day moving average price of $36.44 and a two-hundred day moving average price of $31.85. The company has a market cap of $475.40 million, a PE ratio of 37.02 and a beta of 1.03.

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

IRadimed Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages have weighed in on IRMD. StockNews.com began coverage on shares of IRadimed in a report on Thursday. They issued a “buy” rating for the company. MKM Partners increased their price target on shares of IRadimed from $46.00 to $48.00 in a report on Monday, February 6th.

Hedge Funds Weigh In On IRadimed

A number of hedge funds and other institutional investors have recently made changes to their positions in IRMD. Resource Consulting Group Inc. bought a new position in shares of IRadimed during the 3rd quarter worth about $3,848,000. Bares Capital Management Inc. lifted its holdings in shares of IRadimed by 73.3% during the 3rd quarter. Bares Capital Management Inc. now owns 224,002 shares of the medical equipment provider’s stock worth $6,734,000 after acquiring an additional 94,762 shares during the period. Soleus Capital Management L.P. lifted its holdings in shares of IRadimed by 8.8% during the 4th quarter. Soleus Capital Management L.P. now owns 745,004 shares of the medical equipment provider’s stock worth $21,076,000 after acquiring an additional 60,314 shares during the period. RK Capital Management LLC lifted its holdings in shares of IRadimed by 17.4% during the 3rd quarter. RK Capital Management LLC now owns 351,841 shares of the medical equipment provider’s stock worth $10,576,000 after acquiring an additional 52,041 shares during the period. Finally, Millennium Management LLC increased its position in shares of IRadimed by 274.7% during the 4th quarter. Millennium Management LLC now owns 59,344 shares of the medical equipment provider’s stock worth $1,679,000 after purchasing an additional 43,507 shares in the last quarter. 50.03% of the stock is owned by institutional investors.

IRadimed Company Profile

(Get Rating)

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.