Envestnet Asset Management Inc. Boosts Stock Position in iRadimed Corporation (NASDAQ:IRMD)

Envestnet Asset Management Inc. boosted its holdings in shares of iRadimed Corporation (NASDAQ:IRMD - Free Report) by 20.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,473 shares of the medical equipment provider's stock after purchasing an additional 11,892 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.55% of iRadimed worth $3,698,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of iRadimed by 4.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,577 shares of the medical equipment provider's stock worth $252,000 after purchasing an additional 204 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of iRadimed by 78.7% in the first quarter. First Horizon Advisors Inc. now owns 513 shares of the medical equipment provider's stock worth $27,000 after purchasing an additional 226 shares in the last quarter. Albert D Mason Inc. grew its stake in shares of iRadimed by 2.0% in the first quarter. Albert D Mason Inc. now owns 17,269 shares of the medical equipment provider's stock worth $906,000 after purchasing an additional 333 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of iRadimed by 9.6% in the fourth quarter. Bessemer Group Inc. now owns 4,143 shares of the medical equipment provider's stock worth $228,000 after purchasing an additional 362 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of iRadimed by 2.3% in the fourth quarter. BNP Paribas Financial Markets now owns 21,138 shares of the medical equipment provider's stock valued at $1,163,000 after buying an additional 477 shares during the period. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised iRadimed from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 6th.

iRadimed Stock Down 0.5%

Shares of IRMD stock opened at $56.32 on Friday. The stock has a 50-day simple moving average of $57.96 and a 200 day simple moving average of $55.78. iRadimed Corporation has a fifty-two week low of $42.34 and a fifty-two week high of $63.29. The stock has a market capitalization of $716.39 million, a P/E ratio of 36.34 and a beta of 0.91.

iRadimed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Tuesday, May 20th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.68 annualized dividend and a yield of 1.21%. iRadimed's dividend payout ratio is currently 43.87%.

iRadimed 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.

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