iRadimed (NASDAQ:IRMD) Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of iRadimed (NASDAQ:IRMD) from a strong-buy rating to a buy rating in a report issued on Sunday morning.

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of iRadimed in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $72.00.

iRadimed Trading Up 2.7%

Shares of IRMD stock opened at $79.79 on Friday. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 49.25 and a beta of 1.02. iRadimed has a 12-month low of $46.86 and a 12-month high of $80.64. The stock’s 50-day moving average price is $72.76 and its 200-day moving average price is $63.24.

iRadimed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders 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 0.9%. iRadimed’s dividend payout ratio is 41.98%.

Insider Activity at iRadimed

In related news, Director Monty K. Allen sold 1,102 shares of the firm’s stock in a transaction on 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Roger E. Susi sold 5,000 shares of iRadimed stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $74.82, for a total transaction of $374,100.00. Following the transaction, the chief executive officer directly owned 2,332,500 shares of the company’s stock, valued at $174,517,650. The trade was a 0.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 31,102 shares of company stock valued at $2,235,398 over the last ninety days. Corporate insiders own 36.80% of the company’s stock.

Hedge Funds Weigh In On iRadimed

Large investors have recently made changes to their positions in the company. Jump Financial LLC grew its holdings in iRadimed by 4.9% during the 1st quarter. Jump Financial LLC now owns 4,300 shares of the medical equipment provider’s stock valued at $226,000 after purchasing an additional 200 shares during the last quarter. CWM LLC grew its stake in shares of iRadimed by 62.2% during the third quarter. CWM LLC now owns 550 shares of the medical equipment provider’s stock valued at $39,000 after buying an additional 211 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of iRadimed by 78.7% in the first quarter. First Horizon Advisors Inc. now owns 513 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 226 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of iRadimed by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,811 shares of the medical equipment provider’s stock worth $252,000 after acquiring an additional 234 shares during the last quarter. Finally, Martingale Asset Management L P boosted its holdings in iRadimed by 2.4% during the 1st quarter. Martingale Asset Management L P now owns 12,831 shares of the medical equipment provider’s stock valued at $673,000 after acquiring an additional 300 shares during the period. 92.34% of the stock is owned by hedge funds and other institutional investors.

iRadimed Company 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.