StockNews.com Begins Coverage on IRadimed (NASDAQ:IRMD)

StockNews.com began coverage on shares of IRadimed (NASDAQ:IRMD – Get Rating) in a report published on Thursday morning. The brokerage issued a buy rating on the medical equipment provider’s stock.

Separately, MKM Partners lifted their price objective on IRadimed from $46.00 to $48.00 in a research report on Monday, February 6th.

IRadimed Price Performance

IRadimed stock traded down $0.88 during trading on Thursday, reaching $37.76. 60,951 shares of the company were exchanged, compared to its average volume of 41,319. IRadimed has a 52-week low of $26.00 and a 52-week high of $55.92. The company has a market capitalization of $475.40 million, a P/E ratio of 37.02 and a beta of 1.03. The stock’s 50 day simple moving average is $36.44 and its two-hundred day simple moving average is $31.84.

IRadimed (NASDAQ:IRMD – Get Rating) last announced 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. IRadimed had a return on equity of 18.81% and a net margin of 23.99%. The firm had revenue of $14.86 million for the quarter, compared to the consensus estimate of $14.93 million. As a group, equities analysts forecast that IRadimed will post 1.17 earnings per share for the current year.

IRadimed Increases Dividend

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

Insider Buying and Selling at IRadimed

In other IRadimed news, CEO Roger E. Susi sold 10,000 shares of IRadimed stock in a transaction on Monday, March 13th. The stock was sold at an average price of $37.81, for a total value of $378,100.00. Following the sale, the chief executive officer now owns 572,950 shares in the company, valued at $21,663,239.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other IRadimed news, CEO Roger E. Susi sold 5,484 shares of IRadimed stock in a transaction on Monday, March 6th. The stock was sold at an average price of $38.52, for a total value of $211,243.68. Following the sale, the chief executive officer now owns 587,466 shares in the company, valued at $22,629,190.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Roger E. Susi sold 10,000 shares of the business’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $37.81, for a total value of $378,100.00. Following the completion of the sale, the chief executive officer now owns 572,950 shares in the company, valued at approximately $21,663,239.50. The disclosure for this sale can be found here. Insiders have sold 45,247 shares of company stock worth $1,680,787 over the last quarter. 43.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On IRadimed

Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its holdings in shares of IRadimed by 51.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,131 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 384 shares during the period. Advisor Group Holdings Inc. raised its holdings in shares of IRadimed by 82.3% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,167 shares of the medical equipment provider’s stock valued at $98,000 after buying an additional 978 shares during the period. BNP Paribas Arbitrage SNC raised its holdings in shares of IRadimed by 107.3% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 3,615 shares of the medical equipment provider’s stock valued at $109,000 after buying an additional 1,871 shares during the period. Quantbot Technologies LP purchased a new stake in shares of IRadimed in the 1st quarter valued at $118,000. Finally, Bank of America Corp DE grew its stake in IRadimed by 142.9% during the 4th quarter. Bank of America Corp DE now owns 5,001 shares of the medical equipment provider’s stock worth $141,000 after purchasing an additional 2,942 shares in the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

About IRadimed

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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.