Raymond James Financial Inc. Acquires New Stake in Iradimed Corporation (NASDAQ:IRMD)

Raymond James Financial Inc. acquired a new stake in Iradimed Corporation (NASDAQ:IRMD - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 42,170 shares of the medical equipment provider's stock, valued at approximately $2,319,000. Raymond James Financial Inc. owned about 0.33% of Iradimed at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. acquired a new position in Iradimed during the fourth quarter valued at $254,000. Aristides Capital LLC boosted its stake in shares of Iradimed by 62.0% in the fourth quarter. Aristides Capital LLC now owns 29,925 shares of the medical equipment provider's stock worth $1,646,000 after buying an additional 11,452 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Iradimed by 5.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 58,581 shares of the medical equipment provider's stock worth $3,222,000 after buying an additional 2,909 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Iradimed by 41.1% during the fourth quarter. Wells Fargo & Company MN now owns 4,362 shares of the medical equipment provider's stock worth $240,000 after acquiring an additional 1,270 shares during the period. Finally, Huntington National Bank raised its position in Iradimed by 34.0% during the fourth quarter. Huntington National Bank now owns 1,993 shares of the medical equipment provider's stock valued at $110,000 after acquiring an additional 506 shares in the last quarter. Institutional investors and hedge funds own 92.34% of the company's stock.

Iradimed Price Performance

NASDAQ IRMD traded down $0.02 during trading hours on Monday, reaching $53.46. The company's stock had a trading volume of 3,347 shares, compared to its average volume of 43,606. The firm has a market capitalization of $679.68 million, a price-to-earnings ratio of 35.64 and a beta of 0.91. The company's 50-day moving average is $52.33 and its two-hundred day moving average is $54.37. Iradimed Corporation has a 1-year low of $41.60 and a 1-year high of $63.29.

Iradimed (NASDAQ:IRMD - Get Free Report) last announced its earnings results on Monday, May 5th. The medical equipment provider reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.06). Iradimed had a return on equity of 24.12% and a net margin of 26.26%. Equities analysts forecast that Iradimed Corporation will post 1.66 EPS for the current fiscal year.

Iradimed Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $0.17 dividend. This is a positive change from Iradimed's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.68 annualized dividend and a dividend yield of 1.27%. Iradimed's dividend payout ratio (DPR) is 45.33%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Roth Mkm reaffirmed a "buy" rating and set a $72.00 price objective (up previously from $60.00) on shares of Iradimed in a research note on Friday, February 14th. StockNews.com upgraded shares of Iradimed from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 25th.

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.