Bank of New York Mellon Corp Makes New $7.25 Million Investment in iRadimed Corporation $IRMD

Key Points

• Bank of New York Mellon purchased 75,885 iRadimed shares worth approximately $7.25 million, giving it a 0.59% stake. Institutional investors collectively own 92.34% of the company.
• Analyst sentiment remains a “Moderate Buy”, with an average price target of $120, although Weiss Ratings and Wall Street Zen recently downgraded the stock to “Hold.”
• iRadimed exceeded quarterly earnings and revenue estimates, reporting $0.46 EPS and $20.47 million in revenue. The company also declared a quarterly dividend of $0.20 per share, equivalent to a 0.9% yield.

Bank of New York Mellon Corp bought a new stake in shares of iRadimed Corporation (NASDAQ:IRMD - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 75,885 shares of the medical equipment provider's stock, valued at approximately $7,252,000. Bank of New York Mellon Corp owned 0.59% of iRadimed as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. CWM LLC raised its position in shares of iRadimed by 19.5% in the 4th quarter. CWM LLC now owns 657 shares of the medical equipment provider's stock worth $64,000 after acquiring an additional 107 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in iRadimed by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,811 shares of the medical equipment provider's stock valued at $252,000 after purchasing an additional 234 shares in the last quarter. Quantinno Capital Management LP grew its stake in iRadimed by 12.5% in the first quarter. Quantinno Capital Management LP now owns 3,482 shares of the medical equipment provider's stock valued at $335,000 after purchasing an additional 387 shares during the last quarter. Farther Finance Advisors LLC grew its stake in iRadimed by 827.1% in the fourth quarter. Farther Finance Advisors LLC now owns 445 shares of the medical equipment provider's stock valued at $43,000 after purchasing an additional 397 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of iRadimed by 10.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,782 shares of the medical equipment provider's stock worth $466,000 after purchasing an additional 458 shares in the last quarter. Institutional investors own 92.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Weiss Ratings cut iRadimed from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, August 3rd. Wall Street Zen lowered iRadimed from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $120.00.

iRadimed Stock Performance

Shares of IRMD stock opened at $86.59 on Friday. iRadimed Corporation has a fifty-two week low of $67.84 and a fifty-two week high of $107.90. The firm has a market capitalization of $1.11 billion, a PE ratio of 48.37 and a beta of 0.89. The stock's 50-day simple moving average is $92.42 and its 200-day simple moving average is $93.72.

iRadimed (NASDAQ:IRMD - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The medical equipment provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. The business had revenue of $20.47 million for the quarter, compared to the consensus estimate of $20.35 million. iRadimed had a net margin of 26.70% and a return on equity of 23.45%. iRadimed has set its FY 2026 guidance at 2.090-2.240 EPS and its Q3 2026 guidance at 0.540-0.590 EPS. Sell-side analysts forecast that iRadimed Corporation will post 1.98 earnings per share for the current year.

iRadimed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, August 14th. iRadimed's dividend payout ratio (DPR) is currently 44.69%.

iRadimed Profile

iRadimed Corporation designs, develops and manufactures medical device solutions for MRI environments. The company's core product line consists of MRI-compatible infusion systems engineered to deliver precise fluid management during magnetic resonance imaging procedures. These devices are crafted to minimize electrical noise and interference, ensuring both patient safety and image clarity in diagnostic and interventional settings.

In addition to infusion pumps, iRadimed offers a range of complementary accessories and monitoring solutions tailored to MRI suites.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.