Lazard Asset Management LLC Buys 8,773 Shares of Iradimed Corporation (NASDAQ:IRMD)

Lazard Asset Management LLC raised its holdings in Iradimed Corporation (NASDAQ:IRMD - Free Report) by 35.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,292 shares of the medical equipment provider's stock after buying an additional 8,773 shares during the quarter. Lazard Asset Management LLC owned about 0.26% of Iradimed worth $1,831,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in IRMD. R Squared Ltd bought a new stake in shares of Iradimed in the 4th quarter worth approximately $30,000. US Bancorp DE grew its position in shares of Iradimed by 476.6% in the 4th quarter. US Bancorp DE now owns 617 shares of the medical equipment provider's stock worth $34,000 after buying an additional 510 shares during the last quarter. Huntington National Bank grew its position in shares of Iradimed by 34.0% in the 4th 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 in the 4th quarter worth approximately $217,000. Finally, Bessemer Group Inc. grew its position in shares of Iradimed by 9.6% in the 4th 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 currently owned by institutional investors.

Iradimed Stock Performance

Shares of NASDAQ IRMD traded down $1.19 during mid-day trading on Friday, hitting $51.09. 27,862 shares of the stock traded hands, compared to its average volume of 42,668. Iradimed Corporation has a 52 week low of $41.69 and a 52 week high of $63.29. The company has a market cap of $649.61 million, a price-to-earnings ratio of 34.06 and a beta of 0.91. The stock has a fifty day moving average price of $52.24 and a 200-day moving average price of $54.48.

Iradimed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Tuesday, May 20th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Tuesday, May 20th. Iradimed's dividend payout ratio is currently 43.87%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IRMD. Roth Mkm reiterated a "buy" rating and issued a $72.00 price objective (up from $60.00) on shares of Iradimed in a research report on Friday, February 14th. Wall Street Zen upgraded Iradimed from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 6th.

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.