Founder of Battered Medical Device Company Boosts Ownership Stake, High-Ranked Executive at FICO Sells Out Entire Stake, Plus Other Insider Trading

Board Member at Harris Corporation Purchases Some Shares

One member of Harris Corporation (NYSE:HRS)’s boardroom purchased some shares last week. James F. Albaugh, who was appointed to the company’s Board of Directors in late August 2016, bought 1,000 shares on Thursday at prices varying from $104.96 to $105.00 per share. Mr. Albaugh currently owns an aggregate of 1,725 shares following the recent purchase. It is highly likely that the Board member purchased the shares to meet the company’s stock ownership guidelines, as non-employee directors at Harris are expected to own at least $500,000 worth of shares within five years after election.

At the end of January, Harris Corporation (NYSE:HRS) agreed to sell its government IT services business to an affiliate of private equity investment firm Veritas Capital for $690 million in cash. The company said the business was anticipated to generate revenue of about $1.07 billion in the fiscal year ending June. The business provides IT and engineering-managed services to U.S. government agencies, including supporting NASA’s space communications network and deep space network programs. The announced divestiture, along with the recent sale of its CapRock business, represents one of the steps in the company’s efforts to optimize its business portfolio. The shares of Harris have gained 46% in the past year. Ken Griffin’s Citadel Advisors LLC owned 39,449 shares of Harris Corporation (NYSE:HRS) at year-end.

Founder of Battered Medical Device Company Boosts Equity Stake

The man at the helm of Iradimed Corp (NASDAQ:IRMD) boosted his equity stake last week as well. President and CEO Roger E. Susi, who founded Iradimed in 2004, snatched up 5,000 shares on Wednesday for $8.55 each and 5,000 shares on Thursday at $8.65 apiece, lifting his direct ownership stake to 20,000 shares. Mr. Susi also holds an indirect ownership stake of 5.80 million shares, which are held in three different trusts.

Iradimed Corp (NASDAQ:IRMD), a single-product medical device company that designs non-magnetic intravenous infusion pump systems which allow for the administration of medication to patients during magnetic resonance imaging (MRI) procedures, has seen the value of its shares plunge by 47% in the past year. In September 2014, the company was required by the FDA to stop selling its MRI compatible infusion pump systems, saying that modifications made to software on its previously-cleared infusion pumps were “significant” and required submission of new premarket notifications. Iradimed has yet to solve the issue with the warning letter received from the FDA several years ago. Cliff Asness’ AQR Capital Management had around 55,000 shares of Iradimed Corp (NASDAQ:IRMD) in its portfolio at the end of December.

Let’s head to the last page of the article, where we discuss fresh insider selling at two other firms.