iRadimed Corporation $IRMD Stock Position Reduced by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its position in iRadimed Corporation (NASDAQ:IRMD) by 33.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,649 shares of the medical equipment provider’s stock after selling 11,361 shares during the quarter. Los Angeles Capital Management LLC owned 0.18% of iRadimed worth $1,354,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. boosted its holdings in iRadimed by 20.3% in the first quarter. Envestnet Asset Management Inc. now owns 70,473 shares of the medical equipment provider’s stock worth $3,698,000 after purchasing an additional 11,892 shares during the period. Vanguard Group Inc. lifted its position in shares of iRadimed by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 554,451 shares of the medical equipment provider’s stock worth $29,098,000 after buying an additional 17,640 shares during the last quarter. Nuveen LLC bought a new position in shares of iRadimed in the 1st quarter worth about $1,418,000. Bank of New York Mellon Corp boosted its holdings in shares of iRadimed by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 101,665 shares of the medical equipment provider’s stock valued at $5,335,000 after buying an additional 1,557 shares during the period. Finally, American Century Companies Inc. grew its position in shares of iRadimed by 13.8% during the 1st quarter. American Century Companies Inc. now owns 18,284 shares of the medical equipment provider’s stock valued at $960,000 after buying an additional 2,213 shares during the last quarter. 92.34% of the stock is owned by institutional investors and hedge funds.

iRadimed Stock Up 2.1%

iRadimed stock opened at $86.43 on Thursday. iRadimed Corporation has a 52-week low of $47.48 and a 52-week high of $87.88. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 53.35 and a beta of 1.04. The firm has a 50-day moving average price of $75.21 and a two-hundred day moving average price of $65.60.

iRadimed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Friday, November 14th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, November 14th. This represents a $0.68 annualized dividend and a dividend yield of 0.8%. iRadimed’s payout ratio is currently 41.21%.

Insider Transactions at iRadimed

In related news, CEO Roger E. Susi sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $82.64, for a total value of $413,200.00. Following the sale, the chief executive officer directly owned 2,322,500 shares in the company, valued at $191,931,400. This trade represents a 0.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 40,000 shares of company stock valued at $2,960,900. Corporate insiders own 36.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on IRMD shares. Wall Street Zen lowered shares of iRadimed from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of iRadimed in a report on Friday, October 31st. Roth Capital set a $90.00 price target on iRadimed in a research report on Friday, October 31st. Lake Street Capital restated a “buy” rating and set a $100.00 price objective on shares of iRadimed in a research report on Monday, November 3rd. Finally, Zacks Research upgraded iRadimed to a “hold” rating in a research note on Tuesday, November 4th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $87.33.

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.