Man Group plc Sells 10,006 Shares of Iradimed Corporation (NASDAQ:IRMD)

Man Group plc cut its stake in Iradimed Corporation (NASDAQ:IRMD - Free Report) by 72.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,772 shares of the medical equipment provider's stock after selling 10,006 shares during the period. Man Group plc's holdings in Iradimed were worth $207,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. R Squared Ltd bought a new position in shares of Iradimed in the fourth quarter worth about $30,000. US Bancorp DE raised its stake in shares of Iradimed by 476.6% in the fourth quarter. US Bancorp DE now owns 617 shares of the medical equipment provider's stock worth $34,000 after acquiring an additional 510 shares during the last quarter. Huntington National Bank raised its stake in shares of Iradimed by 34.0% during the fourth quarter. Huntington National Bank now owns 1,993 shares of the medical equipment provider's stock worth $110,000 after buying an additional 506 shares during the last quarter. Avantax Advisory Services Inc. bought a new stake in shares of Iradimed during the fourth quarter worth approximately $217,000. Finally, Bessemer Group Inc. raised its stake in shares of Iradimed by 9.6% during the fourth quarter. Bessemer Group Inc. now owns 4,143 shares of the medical equipment provider's stock worth $228,000 after buying an additional 362 shares during the last quarter. 92.34% of the stock is owned by institutional investors.

Iradimed Trading Down 0.1%

Shares of IRMD traded down $0.04 on Friday, reaching $58.10. 59,181 shares of the company's stock were exchanged, compared to its average volume of 43,040. The stock has a market capitalization of $738.74 million, a P/E ratio of 38.73 and a beta of 0.91. The business has a 50 day moving average price of $52.40 and a two-hundred day moving average price of $54.41. Iradimed Corporation has a 12 month low of $41.69 and a 12 month high of $63.29.

Iradimed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 20th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.17%. The ex-dividend date was Tuesday, May 20th. Iradimed's payout ratio is presently 43.87%.

Analyst Ratings Changes

A number of research firms recently weighed in on IRMD. Roth Mkm reissued a "buy" rating and set a $72.00 price target (up from $60.00) on shares of Iradimed in a research note on Friday, February 14th. Wall Street Zen raised shares of Iradimed from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 6th.

About Iradimed

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.