iRadimed Corporation (NASDAQ:IRMD) to Issue Quarterly Dividend of $0.17

iRadimed Corporation (NASDAQ:IRMD) declared a quarterly dividend on Monday, November 3rd. Shareholders of record on Friday, November 14th will be paid a dividend of 0.17 per share by the medical equipment provider on Tuesday, November 25th. This represents a c) annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, November 14th.

iRadimed has a payout ratio of 34.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect iRadimed to earn $2.00 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 34.0%.

iRadimed Trading Up 9.5%

Shares of NASDAQ IRMD traded up $7.30 during trading hours on Monday, reaching $84.11. The stock had a trading volume of 152,068 shares, compared to its average volume of 47,647. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 51.92 and a beta of 1.02. The business’s fifty day moving average price is $73.14 and its two-hundred day moving average price is $63.84. iRadimed has a 52-week low of $47.48 and a 52-week high of $85.00.

Insider Transactions at iRadimed

In related news, CEO Roger E. Susi sold 5,000 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $77.69, for a total value of $388,450.00. Following the completion of the transaction, the chief executive officer directly owned 2,327,500 shares of the company’s stock, valued at approximately $180,823,475. This represents a 0.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Monty K. Allen sold 1,102 shares of the stock in a transaction on Wednesday, August 6th. The shares were 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 of the company’s stock, valued at approximately $1,374,951.80. This represents a 5.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 36,102 shares of company stock worth $2,623,848 over the last ninety days. 36.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On iRadimed

Institutional investors have recently modified their holdings of the business. First Horizon Advisors Inc. boosted its stake in shares of iRadimed by 78.7% in the 1st quarter. First Horizon Advisors Inc. now owns 513 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 226 shares during the period. CWM LLC boosted its stake in iRadimed by 62.2% in the third quarter. CWM LLC now owns 550 shares of the medical equipment provider’s stock valued at $39,000 after acquiring an additional 211 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in iRadimed during the third quarter worth approximately $47,000. Tower Research Capital LLC TRC increased its position in iRadimed by 191.1% during the second quarter. Tower Research Capital LLC TRC now owns 754 shares of the medical equipment provider’s stock worth $45,000 after buying an additional 495 shares during the period. Finally, Spire Wealth Management acquired a new stake in shares of iRadimed during the second quarter worth about $60,000. Institutional investors and hedge funds own 92.34% of the company’s stock.

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.