iRadimed (NASDAQ:IRMD) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of iRadimed (NASDAQ:IRMD) to a hold rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

A number of other equities analysts also recently commented on IRMD. Weiss Ratings reaffirmed a “buy (b)” rating on shares of iRadimed in a research note on Friday, October 31st. Wall Street Zen lowered shares of iRadimed from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 26th. Roth Capital set a $90.00 price objective on iRadimed in a research report on Friday, October 31st. Finally, Lake Street Capital restated a “buy” rating and issued a $100.00 target price on shares of iRadimed in a research report on Monday. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.33.

iRadimed Stock Performance

Shares of NASDAQ IRMD opened at $84.96 on Tuesday. The firm has a market cap of $1.08 billion, a PE ratio of 52.44 and a beta of 1.04. iRadimed has a one year low of $47.48 and a one year high of $87.88. The firm has a fifty day moving average of $73.89 and a 200 day moving average of $64.46.

iRadimed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.68 dividend on an annualized basis and a yield of 0.8%. iRadimed’s dividend payout ratio (DPR) is presently 41.21%.

Insider Activity

In other news, CEO Roger E. Susi sold 5,000 shares of iRadimed stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $82.64, for a total transaction of $413,200.00. Following the sale, the chief executive officer owned 2,322,500 shares in the company, valued at approximately $191,931,400. The trade was a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 40,000 shares of company stock worth $2,960,900 over the last 90 days. Company insiders own 36.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State of Wyoming acquired a new position in shares of iRadimed during the third quarter worth about $72,000. Principal Financial Group Inc. purchased a new position in shares of iRadimed during the 3rd quarter worth approximately $422,000. Summit Global Investments raised its stake in shares of iRadimed by 2.7% during the 3rd quarter. Summit Global Investments now owns 7,139 shares of the medical equipment provider’s stock worth $508,000 after buying an additional 188 shares in the last quarter. Riverwater Partners LLC acquired a new stake in shares of iRadimed in the 3rd quarter valued at approximately $218,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of iRadimed in the third quarter valued at approximately $47,000. 92.34% of the stock is currently 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.