WINTER SPRINGS, FL—Glenn John, Chief Financial Officer of Iradimed Corp (NASDAQ:IRMD), recently sold 2,500 shares of the company's common stock. The sale, executed on December 2, 2024, was conducted at a weighted average price of $54.1797 per share, resulting in a total transaction value of $135,449. Following this transaction, John retains ownership of 4,383 shares in the company. The transaction comes as Iradimed, with a market capitalization of $686 million, trades near its 52-week high of $57.95, reflecting the company's strong performance with a ~30% return over the past year.
The shares were sold in multiple trades at prices ranging from $54.00 to $54.22, as noted in the transaction's footnote. Iradimed Corp, based in Winter Springs, Florida, specializes in the production of surgical and medical instruments and apparatus. According to InvestingPro analysis, the company maintains excellent financial health with strong profitability metrics, including a 77% gross margin. InvestingPro's comprehensive analysis indicates the stock is currently trading above its Fair Value, with 13 additional key insights available to subscribers.
In other recent news, IRadimed Corporation reported a record-breaking revenue for the third quarter of 2024, with an 11% increase to $18.3 million compared to the same period last year. This increase led to a gross profit margin of 77.4% and earnings of $0.40 per diluted share. The company provided updates on its new pump awaiting FDA clearance, expected by Q2 2025, and the construction of its new headquarters, which is progressing as planned.
IRadimed's revenue forecast for Q4 2024 is between $18.8 million and $19.2 million. The full-year GAAP diluted EPS guidance has been raised to $1.49 to $1.52, up from $1.37 to $1.47. The company is shifting its product focus from older pumps to monitors in preparation for the new pump launch.
In recent developments, the company plans to adjust the sales team's compensation to boost monitor sales and manage growth from the new pump expected in Q4 2026. Expansion of sales territories and personnel is also in the pipeline in anticipation of the new pump launch. These are among the recent key highlights from IRadimed Corporation.
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