Oak Ridge Investments LLC Sells 2,042 Shares of iRadimed Corporation $IRMD

Oak Ridge Investments LLC reduced its holdings in shares of iRadimed Corporation (NASDAQ:IRMD) by 4.9% during the second quarter, HoldingsChannel reports. The firm owned 39,795 shares of the medical equipment provider’s stock after selling 2,042 shares during the period. Oak Ridge Investments LLC’s holdings in iRadimed were worth $2,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Horizon Advisors Inc. lifted its holdings in iRadimed by 78.7% in the first quarter. First Horizon Advisors Inc. now owns 513 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 226 shares during the period. US Bancorp DE lifted its holdings in iRadimed by 132.7% in 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 position in iRadimed in the first quarter valued at about $78,000. Comerica Bank lifted its holdings in iRadimed by 21.4% in the first quarter. Comerica Bank now owns 2,288 shares of the medical equipment provider’s stock valued at $120,000 after acquiring an additional 404 shares during the period. Finally, State of Wyoming lifted its holdings in iRadimed by 11.3% in the first quarter. State of Wyoming now owns 3,013 shares of the medical equipment provider’s stock valued at $158,000 after acquiring an additional 307 shares during the period. 92.34% of the stock is owned by institutional investors.

iRadimed Stock Down 5.0%

NASDAQ IRMD opened at $71.68 on Friday. The stock’s 50-day moving average price is $71.45 and its 200-day moving average price is $61.11. iRadimed Corporation has a 52 week low of $46.86 and a 52 week high of $78.38. The company has a market capitalization of $911.77 million, a P/E ratio of 44.25 and a beta of 1.02.

iRadimed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Monday, August 18th were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.68 annualized dividend and a dividend yield of 0.9%. iRadimed’s dividend payout ratio (DPR) is 41.98%.

Insider Activity

In other news, CEO Roger E. Susi sold 5,000 shares of the firm’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.72, for a total value of $358,600.00. Following the transaction, the chief executive officer owned 2,342,500 shares of the company’s stock, valued at $168,004,100. This trade represents a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Monty K. Allen sold 1,102 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $69.10, for a total value of $76,148.20. Following the completion of the transaction, the director directly owned 19,898 shares in the company, valued at $1,374,951.80. This trade represents a 5.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,102 shares of company stock worth $1,498,348 in the last ninety days. Corporate insiders own 36.80% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of iRadimed in a report on Wednesday. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, iRadimed currently has a consensus rating of “Buy” and a consensus target price of $72.00.

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.