Millennium Management LLC Sells 36,176 Shares of Iradimed Corporation (NASDAQ:IRMD)

Millennium Management LLC reduced its holdings in shares of Iradimed Corporation (NASDAQ:IRMD - Free Report) by 45.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 44,051 shares of the medical equipment provider's stock after selling 36,176 shares during the period. Millennium Management LLC owned about 0.35% of Iradimed worth $2,423,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

IRMD has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Iradimed from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Roth Mkm reissued a "buy" rating and issued a $72.00 price objective (up previously from $60.00) on shares of Iradimed in a research note on Friday, February 14th.

Iradimed Trading Up 3.5%

Shares of Iradimed stock traded up $2.00 during trading on Tuesday, hitting $59.79. 51,625 shares of the stock traded hands, compared to its average volume of 43,251. The stock's fifty day simple moving average is $52.50 and its 200 day simple moving average is $54.44. The firm has a market cap of $760.23 million, a P/E ratio of 39.86 and a beta of 0.91. Iradimed Corporation has a 52-week low of $41.69 and a 52-week high of $63.29.

Iradimed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 20th were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, May 20th. This represents a $0.68 annualized dividend and a yield of 1.14%. Iradimed's dividend payout ratio (DPR) is presently 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.