Iradimed Corporation (NASDAQ:IRMD) Shares Sold by Kings Path Partners LLC

Kings Path Partners LLC lessened its stake in Iradimed Corporation (NASDAQ:IRMD - Free Report) by 49.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,365 shares of the medical equipment provider's stock after selling 12,205 shares during the quarter. Kings Path Partners LLC owned approximately 0.10% of Iradimed worth $649,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Iradimed by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 536,811 shares of the medical equipment provider's stock valued at $29,525,000 after buying an additional 22,762 shares during the last quarter. Copeland Capital Management LLC increased its stake in Iradimed by 12.6% during the 4th quarter. Copeland Capital Management LLC now owns 475,563 shares of the medical equipment provider's stock worth $26,156,000 after buying an additional 53,138 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Iradimed by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 227,257 shares of the medical equipment provider's stock valued at $12,499,000 after buying an additional 7,606 shares in the last quarter. Geode Capital Management LLC boosted its stake in Iradimed by 17.9% during the 4th quarter. Geode Capital Management LLC now owns 222,772 shares of the medical equipment provider's stock worth $12,255,000 after purchasing an additional 33,879 shares during the period. Finally, Northern Trust Corp boosted its stake in Iradimed by 7.3% during the 4th quarter. Northern Trust Corp now owns 143,069 shares of the medical equipment provider's stock worth $7,869,000 after purchasing an additional 9,722 shares during the period. Hedge funds and other institutional investors own 92.34% of the company's stock.

Analysts Set New Price Targets

IRMD has been the topic of several analyst reports. Roth Mkm reaffirmed 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.

Iradimed Stock Up 0.2%

Shares of IRMD traded up $0.12 during mid-day trading on Tuesday, hitting $57.91. The company had a trading volume of 4,797 shares, compared to its average volume of 43,071. The business's 50-day simple moving average is $52.50 and its 200-day simple moving average is $54.44. Iradimed Corporation has a 1-year low of $41.69 and a 1-year high of $63.29. The stock has a market cap of $736.33 million, a PE ratio of 38.61 and a beta of 0.91.

Iradimed Announces Dividend

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

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.